The G7 countries have expressed deep concern over the rising oil prices due to the ongoing war between the US and Iran and demanded US administration to end US-Iran war to protect the world economy.
In emergency meeting of the G7, the group has urged US to stop Iran war and open the strait of Harmuz to save global economy. They decided to bring 400 million barrels of oil to the market to keep prices under control. US President Donald Trump has informed the G7 leaders that Iran is close to defeat and the war will end soon. On the other hand, the new Supreme Leader of Iran has threatened the US with a “catastrophic end”.
The Pakistani government has set up an emergency helpline for its citizens in Iran and efforts have been intensified for the safe return of Pakistanis via Zahedan.
The G7 group of world powers has completed emergency consultations on the global energy crisis caused by the ongoing dispute between Iran and the United States. According to media News, the G7 leaders (including France and Germany) have urged the United States to take diplomatic measures to immediately restore sea lanes, especially the Strait of Hormuz.
The price of crude oil has reached $120 per barrel, after which the G7 has decided to draw oil from its emergency reserves. France and Italy have started direct contacts with Iran to save the region from further destruction.
Read also:Situation in the Strait of Hormuz shakes global oil market
