The French president, Emmanuel Macron, plans to soon convene a G7 summit in order to analyze a possible circulation of strategic reserves of petroleum products, in an attempt to contain the energy crisis generated by the war in Iran and curb the escalation of fuel prices.
"I will convene a G7 meeting to improve coordination regarding reserve levels and promote greater cooperation on exports and production capacity," he stated this Friday in Paris during a press conference reported by "Bloomberg".
The meeting will bring together the top officials from the United States, Germany, Japan, the United Kingdom, France, Italy, and Canada with the intention of "avoiding unnecessary tensions" both among the group's partners and with the rest of the Western countries.
The meeting will also address a possible gradual and coordinated release of strategic reserves, similar to that executed in March by the International Energy Agency (IEA) following the outbreak of the conflict in the Middle East and the subsequent blockade of the Strait of Hormuz.