France retools the G7
France is using its G7 presidency to convene a special finance–energy–central bank meeting on the fallout from the Middle East conflict and has invited India, South Korea, Brazil and Kenya—China was notably left off the guest list. Paris says the push is about building broader consensus on macro stabilization and energy resilience; India’s PM Modi is confirmed to attend the June summit in Évian-les-Bains. ( )
Economy Minister Roland Lescure said Paris will convene an extraordinary joint videoconference of G7 finance, energy and central‑bank officials on Monday to assess market moves linked to the Gulf situation. (aa.com.tr) The French finance ministry’s planned session was described in reporting as scheduled for 13:30 local time (12:30 GMT) to “review the situation in the Gulf” and recent market events. (al-monitor.com) France’s calendar still lists formal G7 Finance Ministers and Central Bank Governors meetings for May 18–19 in Paris as part of the French presidency’s lead‑up to the June summit. (elysee.fr) G7 energy ministers have already met in Paris this month and have been debating emergency releases from strategic petroleum reserves as a tool to calm oil markets, according to Bloomberg reporting. (bloomberg.com) Roland Lescure told reporters Paris will announce targeted support for heavy fuel users such as transport and fisheries “in the coming days” while rejecting broad fuel tax cuts as inflationary, per reporting of his comments. (uk.finance.yahoo.com) Bloomberg noted France beat its 2025 deficit‑reduction target, a fiscal outturn analysts say gives the government some margin to finance time‑limited energy support measures. (bloomberg.com) The decision to expand the summit’s guest list has produced diplomatic friction: Bloomberg reported the United States urged Paris to revoke South Africa’s invite, a claim French officials later denied in their public briefings. (bloomberg.com)
