UK’s Reeves Urges G7 to Avoid Trade Barriers Amid Iran War

Britain’s finance minister, Rachel Reeves, is set to caution G7 nations against adopting unilateral trade measures during the ongoing conflict involving Iran, warning that such actions could worsen global economic instability.

According to a statement from the UK Treasury, Reeves will deliver the message at a meeting of finance ministers, energy ministers and central bank governors from the Group of Seven.

She is expected to stress the need for collective action, urging member countries to avoid protectionist policies such as new trade barriers that could disrupt global supply chains and increase the cost of goods and energy.

Reeves will argue that coordinated efforts are essential to maintaining the steady flow of energy supplies and stabilising prices, particularly as the conflict continues to impact global markets.

The G7, which comprises the United States, Britain, Canada, France, Germany, Italy, Japan and the European Union, plays a critical role in shaping international economic policy.

The ongoing war, which began in late February, has significantly affected global energy supplies and heightened economic uncertainty, with ripple effects across international markets.

Reeves’ intervention underscores growing concerns among major economies over the potential for fragmented responses to deepen the crisis rather than contain it.