Energy at the center of discussions between the most important heads of state and government. In the early afternoon today, French President Emmanuel Macron chaired a video conference of G7 leaders - including Italian Prime Minister Giorgia Meloni - dedicated to the global energy situation. At the end Macron spoke of agreement in coordinating efforts to get fuel supplies out of Hormuz. "We have agreed to work in a coordinated manner to help reduce the prices of petroleum products, in particular diesel. We have decided to make production more flexible, making maximum use of the capacity of our refineries, to release up to 100 million barrels from our strategic reserves over 4 months, together with our partners and under the coordination of the IEA, and not to adopt any restrictive measures on trade in energy products between partners", the French president wrote on X. According to what we read in the joint document of the big seven, "substantial" stocks of diesel will be placed on the market in the next 20 days.
Macron: "Clear signal of unity"
Addressing the press after the video conference, Macron spoke of a "clear signal of unity" in the face of the energy crisis. Among the big seven "we are not divided", insisted the French president, who underlined the increase in barrels by "favoring diesel", with the specific aim of easing pressure on the markets. Macron then hoped that "all this could start a decline in prices on world markets", underlining how they have "already begun to reduce since the announcement of this meeting". To conclude, the French president underlined how the big companies are ready to continue "the work. We do everything necessary so that the price of petrol and diesel at petrol stations can drop as quickly as possible".
Meloni: "We need coordinated action on stocks"
As Palazzo Chigi made known, Prime Minister Meloni also participated in the video conference. In his speech, the note continues, Meloni shared the government's initiatives to contain the impact of price increases on families and businesses: the cap on fuel prices obtained by the main oil companies, the interventions on excise duties and the proposals presented by Italy to the European Commission. It also supported coordinated action on stocks, aimed at diesel, and relaunched the proposal for a structured dialogue between the G7 and the Gulf countries.
Von der Leyen: "G7 good, ban on diesel exports averted"
“We welcome the decision of the G7 countries not to impose any export ban on allies and the continued solidarity between partners. We support an IEA-coordinated release of fuel stocks while staying on course towards the clean energy transition, to ensure greater energy security,” EU Commission President Ursula von der Leyen wrote in X on the decision to release 100 million barrels of oil. "Our citizens need and deserve affordable energy. We will work closely with the G7 to achieve this goal," he concluded.
The conversation with Donald Trump
The meeting of the seven countries came after Macron himself "spoke tonight with Donald Trump about the world energy situation and underlined the need to work together to fight against the increase in fuel prices and guarantee the availability of refined products globally", the Elysée announced. This year, France holds the presidency of the G7 and has declared that it is ready to work with other countries and with the IEA "to ensure coordination of the measures to be taken to help ease price tensions and guarantee supplies between G7 countries and globally in crude oil and refined products. Coordination work is also underway at the European level".
Ed Miliband at the G7 emergency summit
Representing the United Kingdom was the British Foreign Minister, Ed Miliband, former head of Energy: it was he who had to speak on behalf of the Downing Street government on the topic of the global energy crisis fueled in particular by the war in the Middle East and linked to the attacks of the USA and Israel on Iran in recent months. The minister replaced Prime Minister Andy Burnham, who was absent from the call as he was busy this afternoon attending his father Roy's funeral.
