The finance ministers of the Group of Seven (G-7) countries will hold an urgent meeting to discuss tensions in global energy markets.
“Elchi” reports that the Financial Times newspaper published this information, citing high-ranking sources from the G-7.
According to the information, the meeting will be held at 16:30 Baku time. The Executive Director of the International Energy Agency (IEA), Fatih Birol, will also participate in the meeting.
The main agenda of the meeting will be to reduce the impact of the war with Iran on energy markets and to ensure the security of global energy supply. Within the framework of the discussions, the issue of releasing strategic oil reserves to the market with IEA coordination will be considered.
According to the information, three G-7 countries, including the US, have already stated their support for the initiative to release reserves to the market.
According to analysts, this step aims to prevent the risk of stagflation in the global economy and to reduce the intensifying inflationary pressure amid rising energy prices.