Hosted by French President Emmanuel Macron, the summit right after the US and Iran announced an agreement to end the war will be signed soon, putting the focus on the deal implementation and its implications for global energy markets and regional security.
Macron said G7 leaders would discuss “the consequences of this agreement, support for Lebanon, the lasting reopening of Hormuz and of course the concluding of an accord on nuclear and ballistic activities in Iran.”
The Strait of Hormuz, through which nearly 20% of the world’s oil and liquefied natural gas supplies pass, has been at the centre of global energy concerns during the war. The reopening and long-term security of the strategic waterway are expected to feature prominently in leaders’ discussions.
Another key issue will be Iran’s nuclear programme. The UK, France, Germany and Italy said they were prepared to lift sanctions on Tehran if it takes clear and verifiable steps to curb its nuclear activities.
“We are prepared to lift relevant sanctions in response to clear, verifiable steps by Iran on its nuclear programme,” the four countries said in a joint statement, adding that they would work with the US, Iran and the International Atomic Energy Agency to ensure Iran never acquires a nuclear weapon.
What will G7 meeting focus on?
According to the European Union, leaders will also discuss geopolitical challenges, peace and security for Ukraine and Europe, international partnerships and solidarity, more balanced economic growth, and the future of artificial intelligence.
The summit takes place at a time when policymakers are grappling with geopolitical uncertainty, trade tensions and widening economic imbalances. EU officials have said leaders are expected to consider the importance of multilateral cooperation in maintaining a stable and predictable global economic environment.
The European Union will be represented by António Costa and Ursula von der Leyen. France has also invited leaders from several non-G7 countries to participate in selected working sessions.
(Edited by : Tenzin Norzom)
