EU MPs Call for Redistribution of Norway’s Energy Profits Amid Crisis

(MENAFN) According to reports, members of the European Parliament are urging Norway to redistribute part of its increased oil and gas revenues, arguing that profits driven by the ongoing Middle East tensions should help support Ukraine and ease pressure on European consumers.

As stated by reports, the proposals come as energy markets remain volatile due to the conflict and a fragile ceasefire in the region, which has pushed up global energy prices and boosted Norway’s export income, according to a Norwegian broadcaster.

Reports indicate that Swedish MEP Karin Karlsbro said countries with strong financial capacity should increase their support for Ukraine, adding that Norway now has a “new opportunity” given its rising revenues from energy exports and overall strong economic position.

She also noted that expectations for Norway are particularly high due to its wealth and the scale of its recent gains in the energy sector.

As stated by reports, separate proposals within the European Parliament are also calling for stronger measures targeting energy companies. German MEP Rasmus Andresen from the Greens group suggested increasing taxes on oil and gas firms operating in Europe.

He argued that households across Europe are facing high energy bills and proposed a levy of 20–25% on energy companies, with the revenue redirected directly to consumers to help ease financial pressure.

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