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

Good greeting and invited to Monday – I’m Mared Gwyn.

Criticism has poured successful from each corners of the satellite aft Israeli constabulary stopped the heads of the Catholic Church successful Jerusalem from entering the Holy Sepulchre connected Palm Sunday, preventing them from privately celebrating wide successful what the Latin Patriarchate has said is simply a archetypal successful “centuries”. We person much successful our apical communicative below.

But first, G7 situation talks: G7 vigor and concern ministers arsenic good arsenic cardinal slope governors volition clasp urgent online talks aboriginal contiguous amid fears that the economical fallout of the warfare successful Iran is astir to deed a tipping constituent – with different merchandise of strategical lipid reserves nether consideration.

The US’s European and Asian allies are astir susceptible to the looming economical shock, putting added accent connected the fraught Group of Seven. Tensions brimmed to the aboveground erstwhile G7 overseas ministers met successful France past week, with US Secretary of State Marco Rubio clashing with the EU’s overseas argumentation main Kaja Kallas erstwhile she asked erstwhile US “patience” with the Kremlin would tally out, according to an Axios scoop.

European markets opened lower connected Monday, with futures pointing to declines crossed large indices.

With lipid and state prices already spiralling, determination is present fearfulness that a protracted struggle could upend planetary proviso chains arsenic cardinal commodities including fertilisers are trapped successful the Strait of Hormuz, the captious waterway which has been efficaciously closed since the struggle broke retired a period ago.

Signs of inflationary unit and soaring borrowing costs are present making the looming situation hard to disregard for the G7, which is yet to jointly present extremist measures to cushion the interaction connected their economies beyond the merchandise of strategical lipid reserves. Several processing countries are already rationing substance and subsidising vigor costs.

My workfellow Marta Pacheco reports that EU vigor ministers are mulling a headdress connected lipid prices oregon taxing the windfall profits of vigor companies to rein successful prices up of a virtual gathering tomorrow, Tuesday. Officials successful Brussels admit that portion the situation is not yet arsenic acute arsenic that of 2022 successful the aftermath of Russia’s penetration of Ukraine, determination is much constricted “financial manoeuvring room” this time. Marta has the details.

Marta besides reports that agriculture ministers stitchery successful Brussels today, with France starring calls for swift enactment to tackle insecurity successful Europe’s fertiliser marketplace by easing measures tied to the EU’s c borderline rules. Fertilisers are indispensable to nutrient accumulation and EU farmers are already deed by soaring prices since the EU banned these chemicals from Belarus and Russia successful July 2025.

Paris wants the bloc to temporarily suspend the bloc’s Carbon Border Adjustment Mechanism – a pricing instrumentality based connected c emissions with which importers request to comply – connected fertilisers and ammonia with retroactive effect from 1 January 2026.

An EU authoritative told Marta that, should a suspension not get capable governmental support, Paris could array a workaround which would impact compensating farmers utilizing existing EU fund resources to cushion the interaction of higher fertiliser costs.

France is besides pressing the European Commission to accelerate enactment connected a long-promised “European Fertilizer Sovereignty Plan” – a motion that concerns widen beyond short-term alleviation to the bloc’s semipermanent strategical autonomy.

Meanwhile, successful the Middle East: The concern remains connected a weapon edge, with nary warring enactment represented successful talks connected de-escalation betwixt the apical diplomats of Pakistan, Turkey, Saudi Arabia and Egypt successful Islamabad connected Sunday.

Discussions explored ways to reopen the Strait of Hormuz including introducing toll-like systems akin to the Suez Canal, Reuters reported, portion broader diplomacy aims astatine a ceasefire and stabilising lipid flows disrupted by the conflict. The mediators besides contemplated the 15-point program President Trump has passed connected to Iran done Islamabad.

Yet, Trump has told the Financial Times successful an interrogation that his penchant is to “take the lipid successful Iran” by seizing the Iranian export hub of Kharg Island, each the portion insisting that helium is “pretty sure” that Iran volition onslaught a deal.

The Washington Post meantime reports this greeting that the Pentagon is preparing for a imaginable crushed penetration into Iran. The Iranian parliament talker accused the US yesterday of plotting a crushed penetration successful concealed portion publically signalling appetite for talks, informing Tehran is waiting to “rain fire” connected immoderate American soldiers who participate its territory.

Outrage aft Israeli constabulary artifact Latin Patriarch from Palm Sunday mass

World leaders person voiced heavy interest aft Israeli constabulary prevented the caput of the Catholic Church successful Jerusalem, Cardinal Pierbattista Pizzaballa, from entering the Church of the Holy Sepulchre for Palm Sunday mass, with the Vatican and Italy convening their Israeli ambassadors successful response.

Both Cardinal Pizzaballa and the Custos of the Holy Land Father Francesco Ielpo were turned distant by authorities successful an incidental the Latin Patriarchate has said "disregards the sensibilities of billions of radical astir the world". It said the 2 were stopped portion proceeding privately without immoderate characteristics of a procession oregon ceremonial act, and had to crook back.

Italy’s Prime Minister Giorgia Meloni has led criticism, describing the Israeli police’s actions arsenic an “offence to the faithful” and to “every assemblage that recognises spiritual freedom”. French President Emmanuel Macron condemned the incidental and said it fits successful a signifier of a “worrying summation successful violations of the presumption of the Holy Places successful Jerusalem”.

Israel has claimed the priests were stopped owed to “security concerns” amid the ongoing warfare with Iran. Prime Minister Benjamin Netanyahu said overnight that Cardinal Pizzaballa had been asked to “refrain from holding mass” retired of “special interest for his safety”, but that Israel has since ensured helium is “granted afloat and contiguous entree to the Church of the Holy Sepulchre successful Jerusalem.”

Yet a spokesperson for the Latin Patriarchate has said that backstage masses person been taking spot astatine the Church of the Holy Sepulchre since the commencement of the war, and that it remains unclear wherefore the entree of the 2 priests to Sunday’s Mass was immoderate different.

Aadel Haleem and Orestes Georgiou Daniel have more.

Israel says it volition ace down connected settler unit successful the West Bank, expands Lebanon incursion

A papers seen exclusively by Euronews’ Sophie Claudet shows instructions by the bureau of Prime Minister Benjamin Netanyahu to the Israeli service and constabulary to ace down connected settler unit against Palestinians successful the West Bank.

The instructions, shared successful a non-public papers titled "Prime Minister’s Directive connected Combating Nationalist Crimes successful Judea and Samaria," are an exceedingly antithetic determination for the Netanyahu administration. Judea and Samaria are the biblical names of the country known contiguous arsenic the West Bank.

The service had announced past week it was diverting troops distant from its ongoing violative successful Lebanon to the West Bank successful bid to rein successful Jewish settler violence, successful what would beryllium the archetypal clip Israel pulls retired forces from an progressive warfare beforehand to dispatch them to a territory deemed acold little unsafe oregon critical.

Yet since, Israeli Prime Minister Benjamin Netanyahu has ordered the subject to “further grow the existing information buffer zone” successful confederate Lebanon, arsenic its warfare against Hezbollah intensifies. Almost a 5th of Lebanon’s colonisation has present been

displaced arsenic a effect of the conflict.

Read the full story.

More from our newsrooms

EU calls for Black Sea atom exemplary to unblock Strait of Hormuz. The EU’s peculiar envoy to the Gulf, Luigi di Maio, told Euronews successful an interrogation successful Doha connected Friday that the EU wants to replicate the Black Sea woody agreed successful the aftermath of Russia’s penetration of Ukraine to unblock planetary supplies of atom successful the Strait of Hormuz. Aadel Haleem has thefull story.

Two unidentified drones clang successful southeastern Finland successful 'suspected territorial violation'. Finland’s Prime Minister Petteri Orpo says they are apt Ukrainian drones that went astray owed to Russian jamming of signals arsenic Kyiv carries retired drone attacks connected Russian territories on the borderline with Finland. Malek Fouda hasthe story.

Huge crowds protestation against Trump successful 'No Kings' rallies successful the US and abroad. Millions of radical took to the streets crossed the US - and to a lesser grade worldwide - connected Saturday to protestation against what they spot arsenic Trump's authoritarian benignant of governance, hardline migration policies, clime alteration denial and the warfare with Iran. Lucy Davolou has the details.

We're besides keeping an oculus on

• EU agriculture and fisheries ministers stitchery successful Brussels
• Syrian President Ahmed Al-Sharaa successful Germany for talks with Chancellor Friedrich Merz

That’s it for today. Marta Pacheco contributed to this newsletter. Remember to sign up to person Europe Today successful your inbox each weekday greeting astatine 08.30.