G-7 finance ministers vow cooperation to face ‘heightened risks’
G-7 finance ministers met in Paris to discuss multilateral cooperation in addressing global economic risks heightened by the ongoing Middle East war. The final communique emphasized the need for coordinated responses to complex challenges affecting economic stability. Tensions between the US and its allies were evident, particularly regarding sanctions on Russian oil and the impact of the conflict on energy and food supply chains.
- ▪The G-7 finance ministers reaffirmed their commitment to multilateral cooperation to address global economic risks.
- ▪Discussions highlighted the need for coordinated responses to challenges posed by the Middle East war.
- ▪Concerns were raised over the US's temporary extension of sanctions on Russian oil, which unsettled European allies.
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G-7 finance ministers vow cooperation to face ‘heightened risks’Sign up now: Get ST's newsletters delivered to your inboxFrench Finance Minister Roland Lescure said the final communique reaffirmed “our commitment to multilateral cooperation in addressing risks to the global economy”.PHOTO: EPAPublished May 19, 2026, 10:16 PMUpdated May 19, 2026, 10:16 PMPARIS - Leading global economies on May 19 vowed multilateral cooperation to address mounting challenges to economic stability due to the Middle East war, after talks in Paris which underscored tensions between the US and its allies.The meeting of the G-7 finance ministers came as economies grapple with the fallout from the US-Israeli war on Iran, while European nations fret over the tariff blitz from the US administration under US…
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