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Euronews
Euronews
Liam Gilliver

Fossil fuel giants are ‘cashing in’ on the Iran war. Is it time for a tax on windfall profits?

Iran Oil G7 European Union Europe 350org

Fossil fuel giants have been accused of “cashing in” on escalating conflict in the Middle East, as global oil prices remain volatile.

Before the war on Iran, Brent crude – which is used as the worldwide benchmark for oil prices – traded in the range of $60-$70 (€52 - €60) per barrel.

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