G7 warns prolonged Middle East war risks global economic damage

Finance leaders from the G7 have warned of the urgent need to contain the economic fallout of a prolonged war in the Middle East, stressing the importance of moving towards a lasting peace.

Meeting on the sidelines of IMF and World Bank spring gatherings in Washington, ministers and central bank governors discussed the conflict as a key concern.

They said limiting disruption to the global economy remains a priority, alongside stabilising markets and energy flows.

The talks also covered securing supply chains for critical minerals and continuing support for Ukraine amid Russia’s ongoing war, according to a statement from France, which holds the G7 presidency.