France announces plans to organise a G7 finance ministers’ meeting focused on the Middle East situation.

France will convene a meeting of G7 finance ministers and central bank governors to address the Middle East crisis, Economy and Finance Minister Roland Lescure announced on Wednesday.

Speaking to Franceinfo radio, Lescure said he had discussed the initiative with several counterparts, including US Treasury Secretary Scott Bessent, and that they agreed to hold the meeting early next week.

He explained that the delay would allow time to observe how the conflict and financial markets evolve. The gathering will bring together finance ministers and central bank governors for what he described as an exchange of views.

France currently holds the rotating presidency of the Group of Seven, whose members are Canada, Germany, Italy, Japan, the United Kingdom and the United States. The first finance ministers’ meeting under France’s presidency took place on January 27.

According to Lescure, the upcoming talks will focus on assessing developments on the ground, including feedback from businesses and economists across affected regions. The aim is to evaluate the broader situation and determine whether coordinated action may be required.

He emphasised the importance of collaboration, noting that although the conflict is geographically contained, it carries global economic implications.

Recent hostilities in the Middle East have unsettled financial markets, triggering notable declines across major indices. Since the start of the week, France’s CAC 40 has dropped by more than five percent, Germany’s DAX has fallen by nearly six percent, and London’s FTSE 100 has shed close to four percent.

Investor concerns have centred on rising energy prices and potential supply disruptions through the Strait of Hormuz, a critical route for roughly one-fifth of global seaborne oil and liquefied natural gas shipments.

Iran’s Revolutionary Guards claimed control of the waterway, warning that vessels could face risks, while US President Donald Trump stated that the US Navy stood ready to escort tankers through the passage.

French authorities are closely monitoring the potential impact on domestic fuel prices. Junior Energy Minister and government spokesperson Maud Bregeon said a modest short-term rise of a few centimes was expected, though she stressed there was no threat to fuel supplies due to existing reserves and diversified import sources.

When asked about possible government measures to cushion any price increases, Bregeon said it was premature to discuss such steps, adding that priority should be given to restoring secure passage through the Strait of Hormuz.

Lescure added that checks would be carried out to ensure that any increases in fuel prices remain justified and proportionate.