France Urges Cautious Reopening of Strait of Hormuz Amid G7 Talks

Apr 16, 2026

72 min

Apr 16, 2026 23:30

France finance minister says Hormuz must open, 'but not at any price' — G7 ready to mitigate war fallout

## France's Stance on Hormuz

French Finance Minister Roland Lescure emphasized the need to reopen the Strait of Hormuz, a critical passage for oil and gas, but stressed it should not come "at any price." His remarks were made during the G7 finance ministers' meeting, highlighting the urgency to address the economic impact of the ongoing Middle East conflict.

## G7's Economic Concerns

The G7, comprising major economies like the US, UK, and Japan, is focused on mitigating the war's economic repercussions. The group is committed to limiting the global financial strain caused by the conflict, which began after US-Israeli strikes on Iran led to Tehran blocking the strait.

## Energy Market Impact

The closure of the Strait of Hormuz has caused energy prices to surge, prompting the International Energy Agency to release oil reserves to stabilize markets. Lescure noted the gravity of the situation and the need for careful monitoring and potential action.

## Broader Geopolitical Context

The G7 also discussed support for Ukraine amid Russian aggression, emphasizing that Ukraine should not suffer as "collateral damage." The US recently allowed temporary sales of Russian oil to ease supply disruptions but will not extend this waiver.

## Future Steps

The G7 plans to reconvene in Paris next month to further evaluate the situation and decide on necessary actions. France, holding the G7 presidency, is actively engaging with other nations to ensure a balanced approach to the crisis.

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