Exxon sues EU over excess profit tax – economic policy

Brussels/Irving (Texas) – The energy company Exxon has sued the EU over the new tax on excess profits. The European Union has thus exceeded its powers, a spokesman for the US group criticized on Wednesday. The tax is counterproductive, makes investments unattractive and undermines investor confidence. Exxon will include the tax in its considerations for future billion-dollar investments in European energy supply.