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G7 ministers set to tackle financial fallout of Mideast war
G7 ministers convened via videoconference to address surging oil and gas prices and supply-chain disruptions caused by the Middle East conflict, marking a first in 50 years.
- On Monday, G-7 finance, energy, and central bank ministers are holding talks to address the economic consequences of the Middle East war as oil and gas prices continue to soar.
- The United States and Israel launched strikes on Iran in late February, prompting Tehran to target crude-exporting nations and halt shipments through the Strait of Hormuz, tightening global energy supplies.
- Activists report the US-Israeli campaign has killed more than 3,000 people in Iran, while Lebanese officials state more than 1,000 have been killed since Israel began attacking territory on March 2.
- French Finance Minister Roland Lescure told a news conference on Friday that this G-7 format marks a first in 50 years, noting "There are already differences in the responses largely linked to differences in exposure to the crisis."
- Following a meeting last week, G-7 foreign ministers deemed it an "absolute necessity" for Iran to re-establish free passage through the Strait of Hormuz, as governments scramble to mitigate supply difficulties and soaring energy costs.
26 Articles
26 Articles
G7 ministers set to tackle oil‑price surge, financial fallout of Mideast war
PARIS, March 30 — Ministers from the G7 will hold talks today to unpack the economic consequences of the war in the Middle East, the French government said, as oil and gas prices continue to soar.The United States and Israel launched strikes on Iran in late February and Tehran has hit back by targeting crude-exporting countries in the region and halting shipments through the Gulf.The squeeze on supply has pushed oil and natural gas prices higher…
France is holding a meeting on Monday of the Group of Seven (G7) of finance ministers, energy ministers, central banks and directors of other international organizations to address the current situation generated by the war in Iran and its impact on the Middle East and the global economy, according to EFE. This is the "first time in 50 years" that this configuration of a G7 meeting takes place, with the joint participation of all these monetary …
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