The G7 finance ministers and central bank governors agreed to work together to shield growth and supply chains from the global shocks tied to the US-Israel-Iran conflict and rising energy prices, signaling a united front.

They will convene in Washington in the coming days to coordinate responses to the Middle East crisis’s economic fallout, as outlined by French Economy Minister Roland Lescure.

Officials urged urgent action to limit the war’s global economic costs and to push toward lasting peace, aiming to stabilize markets and protect growth.

Market chatter around a potential Bank of Japan move remained cautious, with near-term odds showing as very low and viewed as a signal rather than an imminent cut.

Bessent reportedly planned a visit to Japan before joining President Trump on a mid‑May trip to China, a move with potential implications for easing the war and sanctions.

Lescure stressed balancing risks and monitoring developments, with a follow-up Paris meeting planned in about a month to assess impacts and possible actions.

Discussions covered US Russian oil waivers, with Treasury signaling the waiver would not be extended as of March, signaling tighter global oil supply management.

Japan announced a $10 billion energy security package for Asia, including loans to procure crude oil and related products, and pledged closer energy and exchange-rate coordination with the US.

Beyond Iran, talks encompassed Ukraine support and securing critical minerals for high-tech and national security, with details to be shared by Katayama.

The two-hour G7 gathering occurred on the sidelines of IMF and World Bank meetings in Washington, with no joint communique issued.

Officials highlighted rising energy prices and disrupted supply chains as major concerns, with central banks taking a cautious, wait-and-see stance.

The G7 echoed support for Ukraine ahead of winter, insisting Russia should not profit from the Iran-related conflict and Ukraine must be shielded from harm.