On November 11, the leaders of the G7 countries held an online summit to address increasing tensions in the Middle East, with a focus on imposing continued sanctions against Russia. French President Emmanuel Macron, who chaired the meeting, reported that discussions included coordinated releases of oil reserves and ensuring safe navigation in the Strait of Hormuz. He emphasized that the current geopolitical climate would not justify lifting sanctions on Russia and reinforced the G7's commitment to supporting Ukraine.

Macron’s statements highlighted that G7 countries would contribute to approximately 70% of the agreed 400 million barrels of oil reserves from the International Energy Agency (IEA) member nations, set to be released in a structured manner over the coming days. This concerted effort aims to stabilize oil supplies amidst rising prices due to the ongoing conflicts and sanctions surrounding Russia. Additionally, the G7 leaders affirmed their unified stance in maintaining sanctions against Russia while providing ongoing support to Ukraine amidst the conflict.

Regarding the security concerns in the Strait of Hormuz, where Iran has allegedly laid mines, Macron noted that there is no confirmed information from relevant agencies to substantiate these claims. Following the summit, a joint statement from the French president's office confirmed the agreement among the countries to strengthen cooperation for freedom of navigation in the Strait and to consider protective measures for vessels once the security situation stabilizes. This collaboration reflects the G7's proactive stance in ensuring regional stability and addressing the implications of military activities in critical maritime zones.