ExxonMobil sues the EU for imposing a tax on excess profits

The American energy corporation ExxonMobil has filed a lawsuit against the European Union because of the imposition of a tax on excess profits of oil companies, the Financial Times writes on Wednesday. According to the material of the publication, the company believes that the European Union has exceeded its legal authority by deciding to introduce this fee. As noted, the lawsuit was filed on Wednesday by the German and Dutch divisions of ExxonMobil to the European Court of General Jurisdiction in Luxembourg. The company disputes that the EU has the authority to impose such a tax, noting that this right usually belongs to individual countries. According to ExxonMobil spokesman Casey Norton, quoted by the newspaper, the tax is “counterproductive” measure. The company believes that such a move “will undermine investor confidence and push them away from further investment,” as well as increase the region’s dependence on energy imports.