PARIS, March 11 (Bernama-dpa) -- The countries of the Group of Seven (G7) leading economies have expressed their general openness to releasing emergency oil reserves in light of the economic impacts of the Iran war, reported German Press Agency (dpa).
"In principle, we support the implementation of proactive measures to address the situation, including the use of strategic reserves," according to a joint communiqué from the energy ministers of the G7 countries, which was distributed on Wednesday by France as the current G7 chair.
Oil prices have risen significantly after the start of the war.
The G7 countries include Germany, the United States, Japan, Canada, the United Kingdom, France and Italy.
The leaders of the G7 countries plan to discuss the economic consequences of the war and the energy situation in a video conference on Wednesday afternoon.
There have been multiple discussions in recent days about a possible release of national oil reserves. The International Energy Agency also convened a special meeting on Tuesday with this in mind.
-- BERNAMA-dpa
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