Ireland: EU ministers meet in Dublin to review bloc's economy, weigh windfall tax amid surging oil, gas prices.

Shotlist Frankfurt, Germany - Date Unknown (CCTV - No access Chinese mainland) 1. European Union flags Frankfurt, Germany - April 17, 2025 (CCTV - No access Chinese mainland) 2. Various of euro sign sculpture Vienna, Austria - Nov 22, 2024 (CGTN - No access Chinese mainland) 3. Various of plant of Gas Connect Austria, facilities Helsinki, Finland - 2022 (CGTN - No access Chinese mainland) 4. Various of truck moving on road, gas flare 5. Storage facilities London, UK - 2025 (CCTV - No access Chinese mainland) 6. Various of burning gas stove 7. Energy meter Munich, Germany - March 11, 2026 (CGTN - No access Chinese mainland) 8. Various of people refueling vehicles Berlin, Germany - Date Unknown (CCTV - No access Chinese mainland) 9. Vehicle, facilities at gas station 10. Traffic Rome, Italy - October 2021 (CCTV - No access Chinese mainland) 11. Various of street views, traffic Frankfurt, Germany - Sept 13, 2018 (CCTV - No access Chinese mainland) 12. Various of European Central Bank (ECB) headquarters, sign Storyline Eurozone finance ministers gathered in the Irish capital Dublin on Friday to review the bloc's latest economic outlook and discuss the possibility of imposing an oil and gas windfall tax following the surging oil and gas prices sparked by the U.S.-Israeli war against Iran. Kyriakos Pierrakakis, president of the Eurogroup, said after the meeting that new developments in the Middle East have once again pushed up oil and gas prices, with a direct impact on European households and businesses. He said Europe must accelerate its push for energy independence, which is closely tied to the continent's economy, competitiveness, and security, and is now more urgent than ever. Global oil prices have stayed high recently, with Brent crude futures closing above 100 U.S. dollars per barrel for multiple consecutive trading days since September 9. The International Energy Agency said on Friday that the renewed escalation of conflict in the Middle East has further disrupted oil exports from the region, driving international benchmark prices higher again in recent weeks. Higher energy prices are once again putting Europe at risk of rising inflation. European Central Bank (ECB) President Christine Lagarde said in Dublin that interest rates would not move in lockstep with energy prices. Energy costs and their impact on prices can also spill over into other factors such as economic growth and consumption, she said, adding that the ECB would take all of these into account when setting monetary policy. She noted that the ECB is currently taking a prudent approach to the situation. On fiscal policy, some EU member states have called for a windfall tax on energy companies' excess profits from rising oil and gas prices. German Finance Minister Lars Klingbeil hoped that the European Commission would put forward a relevant proposal no later than the next meeting of the Economic and Financial Affairs Council in October. However, the European Commission is currently taking a cautious stance on establishing an EU-wide windfall tax. Valdis Dombrovskis, the European Commissioner for economy and productivity, said member states can decide for themselves whether to tax excess profits of energy companies, and that the commission has not proposed a unified EU-level tax scheme at this stage.