G7 Statement: "Ready to Release Oil Reserves When Necessary"

2026-03-09 15:16:57

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The finance ministers of the G7 countries stated that they are prepared to take all necessary measures to support global energy supply, including releasing strategic oil reserves. In a statement, the organization said, “We will continue to closely monitor the situation and developments in the energy markets, and will hold meetings to exchange information as needed, coordinating within the G7 and with international partners. We are ready at any time to take necessary measures, including releasing reserves, to support global energy supply.” The G7 finance ministers held a video conference on Monday to discuss the Middle East conflict, its impact on regional stability, the global economy, and financial markets, as well as the importance of ensuring the safety of trade routes. Leaders from the International Monetary Fund, World Bank Group, Organisation for Economic Co-operation and Development, and International Energy Agency also participated in the discussion. (Jin10)

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