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UN chief slams big oil firms over ‘immoral’ profits

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Secretary-general of the United Nations, António Guterres berated oil and gas companies for making “excessive” profits from the current energy crisis caused by the Russia-Ukraine war.

The UN chief said the excessive profit made people around the world suffer from increased prices.

Guterres spoke on Wednesday at the launch of the third brief by the Global Crisis Response Group on Food, Energy and Finance.

He described the profits as “immoral” and urged governments to “tax these excessive profits” and use the funds to support the most vulnerable people.

Guterres said, ” It is immoral for oil and gas companies to be making record profits from this energy crisis on the backs of the poorest people and communities and at a massive cost to the climate,”

“The combined profits of the largest energy companies in the first quarter of this year are close to $100 billion.”

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