At the end of a meeting of the European Political Community on Monday in Yerevan, Armenia, President Emmanuel Macron affirmed that Europeans will have to "respond" in the event of "excessive" oil profits linked to the situation in the Middle East.

Published on: 05/04/2026 - 3:52 p.m. Modified on: 05/04/2026 - 5:03 p.m.

Europeans will have to "respond" in the event of "excessive" oil profits or "slightly predatory behavior", affirmed Emmanuel Macron following a summit in Armenia on Monday May 4.

The French president, however, considered that there were, at this stage, no "producers anywhere" who were raising the price of energy "on purpose".

“There is above all a geopolitical context through this blockade” of the Strait of Hormuz, he underlined, calling for a “peaceful reopening” of this strategic route through which 20% of global hydrocarbon production passes.

The profits made by TotalEnergies thanks to the war in the Middle East have reignited the political debate on the advisability of a specific tax for these exceptional profits.

See also Oil superprofits: the debate on taxation relaunched

Defense cooperation

Following a summit of the European Political Community (EPC) in Yerevan, the French president begins a two-day state visit to Armenia.

It will be placed under a "triple sign": the "deepening" of the bilateral relationship, the "approaching of Armenia with the EU", marked by a European Union (EU)-Armenia summit on Tuesday, and the "dynamic of peace between Armenia and Azerbaijan", underlines the Élysée.

Also read “They are stealing the elections”: in Armenia, a new Russia-EU duel

The peace agreement between these two countries, which disputed the enclave of Nagorno-Karabakh, opens a "new era of regional cooperation which can put the Caucasus even more in the middle of a crossroads of roads and energy and commercial interconnections between Europe and Asia", notes the French presidency.

Emmanuel Macron and the Armenian Prime Minister, Nikol Pashinian, must sign a strategic partnership agreement, which notably provides for a strengthening of cooperation in defense matters.

With AFP

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