Italy Targets Big Energy Firms Amid Crisis

Italy plans to reduce excise duties on fuel to mitigate rising prices and intends to increase taxes on companies profiting from the energy crisis, as announced by Prime Minister Giorgia Meloni.

Italy is poised to implement measures to lower excise duties in an effort to alleviate escalating fuel prices, according to Prime Minister Giorgia Meloni.

The Italian government is also prepared to levy higher taxes on companies that have unfairly benefited from the ongoing energy crisis, Meloni announced on Wednesday.

Speaking before the Italian Senate, Meloni emphasized the government's commitment to curbing speculation related to the crisis by targeting excessive profits made by responsible firms.

(With inputs from agencies.)