Iran war: The G7 will meet this Wednesday afternoon via videoconference to discuss the "economic consequences" of the conflict

French President Emmanuel Macron will hold a meeting of G7 heads of state and government on Wednesday, March 11, at 3 p.m. to discuss "the economic consequences" of the war in Iran, particularly the "energy situation" and "measures to mitigate them," the Élysée Palace announced on Tuesday.

"This will be the first discussion on this issue among G7 members. Economic coordination is a key issue for an effective and useful response to the situation," added the Élysée, as France holds the G7 presidency this year. industrialized.

Towards a use of strategic reserves?

Emmanuel Macron mentioned on Monday the possibility of G7 countries using their strategic oil reserves to mitigate the rise in oil prices caused by the war in Iran and its spread to neighboring hydrocarbon-producing countries.

After several days of soaring prices, reaching nearly $120 a barrel on Monday, they finally fell on Tuesday following statements by Donald Trump claiming that the war with Iran is "virtually" over.

The announcement of an "extraordinary meeting" convened by the International Energy Agency (IEA) on Tuesday in Paris to assess whether it was necessary to draw on strategic stocks The hydrocarbon sector also reassured investors.