EU finance ministers tell US to end Middle East war
politico.eu • • world
Key Points:
- European finance ministers urged U.S. Treasury Secretary Scott Bessent to end the Middle East conflict, warning that the war with Iran is driving up oil prices and threatening economic growth and food security in the EU.
- Germany, France, Italy, and the European Commission jointly emphasized the urgency of reopening the Strait of Hormuz to stabilize the region's economic impact during a closed-door G7 meeting.
- The U.S. blamed European governments for their economic troubles, dismissing their criticism and calling for tougher sanctions against Iran to combat terrorism financing.
- The ongoing conflict has exacerbated Europe's economic challenges, prompting calls for increased financial support and exemptions from EU spending limits, while the U.S. extended a pause on sanctions against Russian oil, drawing criticism from EU officials.
- Despite differing views on the conflict's economic effects, G7 ministers expressed hope for a swift and lasting peace in the Middle East and Ukraine to benefit global stability.