G7 leaders agreed that Middle East tensions do not justify lifting sanctions on Russia, French President Emmanuel Macron said after hosting a leaders’ call on Wednesday.
The discussion followed market instability linked to the U.S.-Israeli war with Iran, which has raised concerns over global oil supply disruptions.
Macron said leaders remained united in maintaining pressure on Moscow despite volatility affecting energy markets and increasing uncertainty worldwide.
He added that the International Energy Agency decided to release 400 million barrels of oil, the largest coordinated release in its history.
France’s share of the emergency release will amount to 14.5 million barrels, aimed at helping stabilise energy markets and easing supply pressures.
