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The Latest Breaking News from G7

IMF slashes UK growth forecast as Britain's economy faces biggest shock of G7 nations due to Iran war

Chancellor Rachel Reeves said the war ‘will come at a cost to the UK’ following the IMF’s gloomy outlook

Evening Standard

Iran war escalation could trigger global recession, IMF warns

Growth forecasts cut for US and global economy, while UK suffers sharpest downgrade in G7

The Guardian - UK

Trump’s Iran war could trigger global recession, IMF warns

UK growth slashed as worldwide economy could be thrown ‘off course’, with the risk of an energy crisis ‘on an unprecedented scale’

The Independent UK

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Over 40 countries launch coalition to secure Strait of Hormuz

The multinational coalition will pursue "the collective mobilisation of our full range of diplomatic and economic tools" to enable a "safe and sustained opening" of the Strait of Hormuz, said the British foreign secretary.

Euronews

A third inflationary shock in less than a decade is coming: who will pay the price this time around?

Brutal past experience has taught us that a cost of living crisis doesn’t affect us all the same, because we don’t all go into it with the same income or wealth, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

US to reconsider relations with NATO over Iran, Rubio warns echoing Trump threat

The United States is reassessing its role in NATO citing disappointment with European allies. EU leaders have stressed they will help in the Strait of Hormuz once hot phase of war is over, but insist NATO is a defensive alliance.

Euronews

Trump attacks allies, signals Iran war may end without opening Hormuz

Trump lashed out at the U.K. and France on Truth Social.

Axios

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Macron visits Japan, South Korea for talks dominated by Middle East war

French President Emmanuel Macron has arrived in Japan for a visit that was initially aimed at strengthening partnerships in nuclear energy and space innovation, but is now set to be dominated by the war in the Middle East. He will conclude his trip later in the week in South Korea.

Radio France Internationale

Meagre economic growth at end of 2025 confirmed amid fears over Iran war hit

The ONS confirmed unrevised growth of 0.1% between October and December, which followed growth of 0.1% in the previous three months.

Evening Standard

Prime Minister to chair Cobra meeting on economic hit of Iran war

Sir Keir Starmer told business leaders on Monday that it must be a ‘joint effort’ to tackle the impact of the war.

Evening Standard

G7 pledges to take 'all necessary measures' to safeguard energy market amid war in Iran

G7 countries said they are ready to take “any necessary measures” to preserve stability in the energy market through coordinated action. However, no specific measures have been announced at this stage.

Euronews

The Latest: Trump warns Iran energy sites face destruction without a quick deal

President Donald Trump says Iran faces massive damage to its energy system unless it quickly agrees to end the war

The Independent UK

Starmer hosts business chiefs as Trump ratchets up threats to Iran’s oil

US president Donald Trump has threatened to wipe out Iran’s oil infrastructure unless a deal is done to open the Strait of Hormuz.

Evening Standard

France rolls out targeted fuel aid as truckers stage Paris protest

The French government has pledged targeted support for industries hit by surging fuel prices linked to tensions in the Middle East, while warning that broad, across-the-board financial relief is no longer sustainable. This comes as truck and bus drivers drivers staged a "go slow" protest in Paris.

Radio France Internationale

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Evening Standard

Starmer to meet business leaders as Trump considers invading Iranian island

Bosses from energy firms including BP and Shell and representatives from shipping and banking firms will meet Sir Keir Starmer.

The Guardian - US

Brent crude hits $116 a barrel as Trump threatens to ‘blow up’ Iran’s oilwells and export hub

Investors nervous over escalation of Middle East conflict as US president says he wants to ‘take the oil in Iran’

Euronews

Newsletter: G7 ministers to hold crunch talks as war’s economic fallout deepens

Also in this newsletter: Outrage after Israeli police stopped the heads of the Catholic Church in Jerusalem from entering the Holy Sepulchre on Palm Sunday.

The Guardian - UK

Brent crude rises after Trump says he wants to ‘take the oil’ in Iran and Yemeni Houthis launch second attack on Israel – as it happened

Brent crude on track for record monthly increase; aluminium prices hit four-year highs after Iranian attacks on Middle East smelters

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The Independent UK

Starmer to meet energy and finances bosses in bid to stop household bills spiralling

PM to hear directly from business leaders as war in the Middle East threatens economic instability

The Guardian - UK

Rachel Reeves to tell G7 accelerating shift to clean energy is best defence against energy price shocks

Starmer to convene major energy industry and insurance figures to draw up emergency plans amid continued blockade of strait of Hormuz

Evening Standard

Starmer to meet business leaders amid Hormuz blockade

The Prime Minister is expected to meet senior representatives from the energy, shipping and financial services industries.

Euronews

Watch: The G7 Foreign Ministers' Summit is happening in France - but what it can actually do?

The foreign ministers of one of the most advanced economies are gathering during G7 summit to tackle a world on fire. But your reporter started to wonder: what exactly is this group, and does it still have the power to fix global crises?

The Mary Sue

‘Consequences will follow’: Marco Rubio breaks down after Europe rejects him, and he wasn’t ready for a dose of reality

US Secretary of State Marco Rubio braced for some tough questions from European leaders at the G7 summit, all while criticizing nations unwilling to fully back the US-Israeli war on Iran. This comes as top diplomats showed significant divisions with the United States over the ongoing Iran war, despite agreeing…

The Independent UK

Israel says it intercepted first incoming missile from Yemen as war in Middle East intensifies

Israel’s military says it intercepted a missile launched from Yemen toward Israel for the first time

The Times of India

War to end in ‘weeks, not months’: Rubio says no need to send ground troops to Iran

US secretary of state Marco Rubio stated military operations against Iran are expected to conclude within weeks, not months, without ground troops. Despite ongoing conflict and disruptions to global energy supplies, Washington anticipates a response to its 15-point proposal aimed at ending the war, as Iran faces further strikes on…

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