G7 not yet planning to use strategic oil reserves due to war in Iran
Kyiv • UNN
G7 countries have decided not to use oil reserves to stabilize prices for now. France confirmed its readiness for coordinated steps if necessary.
The Group of Seven largest industrialized nations has decided not to use strategic reserves yet to counter the impact of the war with Iran on oil prices. This was reported by the Associated Press, writes UNN.
Details
"We are not at that stage yet," said French Finance Minister Roland Lescure after chairing a meeting of his G7 counterparts.
He also told reporters in Brussels that G7 countries are ready to take necessary and coordinated steps to stabilize markets, including using strategic reserves if needed.
Recall
European gas rose by 30%, and coal reached its highest level since November 2024. The blockade of supplies from Iran and Qatar threatens a global shortage.