Dhaka, May 19 -- Finance ministers of the Group of Seven have stressed the need to reopen the Strait of Hormuz, saying it is essential while also underscoring the importance of addressing global current account imbalances.

In a joint statement, they reaffirmed their commitment to multilateral cooperation to tackle risks facing the global economy.

Since 28 February 2026, the United States and Israel have been engaged in a conflict with Iran and its regional allies. The fighting began after US and Israeli forces carried out airstrikes on Iran, targeting military and government facilities and killing several senior Iranian officials, including Supreme Leader Ali Khamenei.

The strikes were launched unexpectedly while negotiations were ongo...