Europe

Published on 27/03/2026 – 15:39 GMT+1•Updated 15:45 European Union finance ministers are considering capping oil prices or taxing windfall profits as they weigh a coordinated response to rising energy costs, amid surging natural gas and oil prices driven by the war in Iran. Analysts warn that further price spikes could echo the 2022 energy crisis. EU officials insist the bloc is better prepared than in 2022, when Russia’s invasion of Ukraine triggered severe energy shortages. They point to increased domestic clean energy production and stronger infrastructure. However, uncertainty remains high due to the unpredictable duration of the conflict. Officials also…

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