CSB News USA

CSB News USA · 4:01 PM

In a joint statement, finance chiefs from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States reaffirmed their commitment to maintaining stable energy markets and urged countries to avoid arbitrary export restrictions

Reopening the Strait of Hormuz is “imperative,” G7 finance ministers said on Tuesday, highlighting the enormous economic risks tied to disruptions in one of the world’s most critical energy corridors. In a joint statement, finance chiefs from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States reaffirmed their commitment to maintaining stable energy markets and urged countries to avoid arbitrary export restrictions. The G7 stressed that keeping the Strait of Hormuz open and ensuring energy market stability are priorities not only for the Middle East, but for the broader global economy, as Donald Trump continues efforts to push Iran toward peace and restore safe navigation through the waterway. The ministers said it was “imperative” to guarantee the return of free and secure transit through the Strait of Hormuz and to ease pressure on global supplies of energy, food and fertilizer. Trump said Monday that he had paused a planned strike against Iran after Tehran submitted a peace proposal to Washington, adding that there was now a “very…

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