Iran's Strait of Hormuz blockade has Europe looking to tax its way out of an energy crisis

Apr 4, 2026 - 18:00
Iran's Strait of Hormuz blockade has Europe looking to tax its way out of an energy crisis
The finance ministers of Spain and four other European countries are urging the European Union to impose a bloc-wide windfall tax on energy companies, concerned that surging oil and gas prices driven by the war in Iran will fuel inflation and strain households.