TEHRAN- Italian Economy Minister Giancarlo Giorgetti said Wednesday the situation with energy spikes due to the Iran was worsening everywhere and he was confident that soon other countries would endorse a letter from Italy and five other EU members urging the Irish duty presidency to adopt a common approach to the conflict in West Asia and the supply chain problems, also via a tax on excessive energy windfall profits, Italian News Agency ANSA reported.

"I spoke with my European colleagues this morning; the situation is worsening" regarding rising energy costs driven by the war in Iran, Giorgetti told a press conference following a cabinet meeting that extended a cut in diesel duty in Italy.

Referring to the letter sent to Brussels on August 22 by Giorgetti and his counterparts from Germany, Austria, Poland, Portugal, and Spain—calling on the Irish presidency for a "common approach" to the West Asia conflict and supply issues, including the potential use of a tax on energy windfall profits—the minister added that, ahead of the upcoming Ecofin meeting, "we started as a group of five, but others will quickly join." "One can be optimistic about the EU, but very cautiously so," he added.

MA