Group of Seven Condemns Iran Attacks
Analysis based on 7 articles · First reported Mar 21, 2026 · Last updated Mar 22, 2026
The G7 (G7)'s condemnation of Iran's attacks on Middle Eastern countries, particularly targeting energy infrastructure and maritime routes like the Strait of Hormuz, is likely to increase geopolitical risk premiums in energy markets. This could lead to higher oil and gas prices due to supply chain concerns and potential disruptions, while also impacting investor sentiment towards companies operating in the affected regions.
The G7 (G7) foreign ministers, along with the High Representative of the European Union, issued a joint statement strongly condemning Iran's 'unjustifiable attacks' on its neighboring countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Jordan, and Iraq. These attacks targeted civilians and critical civilian infrastructure, particularly energy facilities. The G7 (G7) warned that Iran's actions pose a serious threat to regional and global security and called for an immediate and unconditional cessation of all such attacks. They also stressed the importance of safeguarding maritime routes, especially the Strait of Hormuz, to ensure the safety of global supply chains and the stability of energy markets. The G7 (G7) reaffirmed its readiness to take necessary measures, including coordinated energy stockpile releases, as previously decided by International Energy Agency members. Furthermore, the G7 (G7) reiterated its long-standing concerns that Iran must never acquire nuclear weapons, urging it to halt its ballistic missile program and end its destabilizing activities worldwide. The statement also condemned attacks in Iraq by Iran and its affiliated militias against diplomatic missions, energy infrastructure in the Iraqi Kurdistan Region, and United States and Counter-ISIS coalition forces. The Israeli Defense Forces also warned that European cities could be future targets after recent Iranian strikes on United States and United Kingdom bases.
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