EU Seeks to Raise $140 Billion Clawing Back Energy Profits

Updated Sept. 14, 2022 5:25 pm ET

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BRUSSELS—The European Union outlined a plan to redistribute about $140 billion from energy companies to consumers and businesses in a bid to cushion the blow of high prices stoked by Russia’s punishing assault on the continent’s economy.

The plan is among the broadest defensive maneuvers that Brussels has orchestrated so far in response to economic pain Russia has inflicted on Europe in the standoff. Western powers have levied an array of sanctions against Russia to punish and deter Moscow amid its invasion of Ukraine.

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This article was written by and originally published on www.wsj.com