Macron to host G7 leaders call on Iran crisis, energy prices
Sign up now: Get ST's newsletters delivered to your inbox
French President Emmanuel Macron during a national defense council meeting at the Elysee Palace, in Paris, on March 10.
PHOTO: REUTERS
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Follow our live coverage here.
PARIS - French President Emmanuel Macron will convene a call with leaders of the Group of Seven (G-7) on March 11 to discuss the Iran crisis and rising energy prices, the French president’s office said.
The talks come as G-7 governments weigh how to respond to a sharp rise in oil prices triggered by the US-Israeli war on Iran.
G-7 energy ministers stopped short of agreeing on a release of strategic oil reserves on March 10 and instead asked the International Energy Agency to assess the situation before acting.
Benchmark oil prices surged to almost four-year highs on March 9 but prices plummeted 11 per cent on March 10 after US President Donald Trump predicted the war in the Middle East could end soon.
US officials are also weighing steps to keep oil flowing through the Strait of Hormuz, including providing naval escorts for commercial vessels and backstopping war risk insurance for tankers, as Washington seeks to reassure shippers and prevent further disruption to global energy supplies.
The G-7 comprises the United States, Canada, Japan, Italy, Britain, Germany and France.
France is the current G-7 chair. REUTERS
