Baku: Finance ministers of the Group of Seven (G7) countries are set to hold an emergency meeting to address the ongoing tensions in global energy markets. This development was reported by APA-Economics, citing the Financial Times. The meeting is scheduled for 16:30 Baku time and will include participation from Executive Director of the International Energy Agency (IEA), Fatih Birol.

According to Azeri-Press News Agency, the primary focus of the meeting will be to explore strategies to mitigate the impact of the conflict with Iran on energy markets and to ensure the security of global energy supplies. A key point of discussion will be the potential release of strategic oil reserves to the market, coordinated by the IEA.

The report indicates that three G7 countries, including the United States, have already shown support for the initiative to release reserves. Analysts suggest that this measure is intended to counteract the risks of stagflation in the global economy and to alleviate the mounting inflationary pressures driven by escalating energy prices.