G7 finance ministers meet in paris to address hormuz crisis and global economic risks

French Economy and Finance Minister Roland Lescure said the gathering aims to demonstrate that multilateral cooperation remains effective, as ministers confront what he described as major challenges linked to the war in the Middle East and unsustainable global imbalances, News.Az reports, citing The National News.

Economy ministers from several Middle Eastern countries, including the UAE, Syria and Qatar, as well as Ukraine, were also invited to the talks as part of what the French presidency described as a gesture of dialogue and solidarity with states directly affected by ongoing crises. The discussions are expected to continue ahead of a G7 leaders’ summit scheduled next month in Evian.

The crisis in the Strait of Hormuz has disrupted global energy markets after Iran reportedly took control of large parts of the strategic waterway, through which a significant share of global oil shipments normally passes. Around 1,500 vessels are said to be stranded, contributing to supply disruptions and rising oil prices, which have triggered economic strain in several countries.

US President Donald Trump has issued new warnings to Tehran as diplomatic efforts stall, while G7 members are also expected to discuss sanctions and measures targeting Iran’s financial networks. European officials said reopening the strait remains a priority, alongside efforts to stabilise energy flows and strengthen supply chain resilience.

The G7, which includes the United States, Canada, the United Kingdom, Japan, Germany, Italy and France, was founded in 1975 and today accounts for around 30 per cent of global GDP. Officials acknowledged divisions among members on how to respond to global challenges, including disagreements over international trade and security policy.