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G7 statement: "Ready at any time" to release oil reserves if necessary
According to Jinshi reports, the G7 finance ministers stated that they are prepared to take all necessary measures to support global energy supply, including releasing strategic oil reserves.
The organization stated in a declaration: "We will continue to closely monitor the situation and the developments in the energy markets, and will convene meetings to exchange information as necessary, coordinating both within the G7 and with international partners. We are ready to take necessary measures, including supporting global energy supply through the release of reserves."
The G7 finance ministers held a video conference on Monday to discuss the Middle East conflict, its impact on regional stability, the global economic situation, and financial markets, as well as the importance of ensuring the security of trade routes. Leaders from the International Monetary Fund, the World Bank Group, the Organisation for Economic Co-operation and Development, and the International Energy Agency also participated in the discussion.
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