Since Russia invaded Ukraine, governments have spent much more on defense and weapons. That is good news for the defense industry. But windfall taxes are not on the agenda.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have reaped the benefits of high oil and gas prices. It's a move many countries are considering - although the UK's new Prime Minister Liz Truss has ruled it out.