German minister: G7 is the most appropriate forum to end the Iran conflict.
Amidst escalating geopolitical crises, global financial leaders are focusing their attention on the G7 Summit. This summit is expected to be a springboard for promoting solutions to end wars, stabilize supply chains, and protect economic security against unpredictable changes.
According to AFP on May 18, German Finance Minister Lars Klingbeil recently stated that the Group of Seven (G7) is the most appropriate forum to discuss ways to fundamentally end the war in Iran. This conflict, along with the blockade of the Strait of Hormuz, poses a serious threat to the global economy.
"Europe's path has always been clear: We choose cooperation over confrontation," Klingbeil emphasized. "We place our faith in partnerships, trust, open trade, and the rule of law."
The German Finance Minister also noted that recent crises have highlighted the urgent need for Germany and Europe to enhance self-reliance and resilience, particularly in the areas of raw materials, energy, and supply chains.
Finance ministers from the G7 nations gathered in Paris on May 18 for two days, aiming to forge a united front as the conflict in the Middle East shifted global economic prospects.
France, currently holding the rotating G7 presidency, faces a challenging task: maintaining open dialogue amidst ongoing trade disputes, especially after the wave of tariffs imposed by US President Donald Trump, which is exacerbating geopolitical tensions.
In addition, reducing dependence on China's massive supply of rare earth minerals – a core element for the boom in artificial intelligence (AI), which has been a driving force behind economic growth in recent years – has also become a top priority on the agenda at this G7 summit.
President Trump's confrontational and pragmatic approach to both allies and adversaries has caused considerable concern among G7 leaders, especially as they grapple with a dangerous "pincer": stagnant growth and runaway inflation stemming from the conflict in the Middle East.
According to the plan, the Finance Ministers will hold a closing press conference at noon on May 19th (Paris time). At this conference, German Finance Minister Lars Klingbeil will once again affirm that the G7 summit is the "appropriate framework" for dialogue with the US aimed at ending the Iran war.
