Among the proposals is a cap on revenues of power companies making huge profits during the bloc's energy crisis.
The big picture:
Von der Leyen unveiled a series of proposals to aid consumers and businesses grappling with high gas and power costs. Among the proposals is a cap on revenues of power companies making huge profits during the bloc's energy crisis that could yield $140 billion to "cushion the blow," she saidShe also said major oil, gas and coal companies "have to pay a fair share" via a "crisis contribution."
"In these times it is wrong to receive extraordinary record revenues and profits benefiting from war and on the back of our consumers. In these times, profits must be shared and channeled to those who need it most," she added.have prompted some politicians in the bloc, particularly those from the far-right, to argue the measures against Russia should be eased,"This is the price for Putin's trail of death and destruction.
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