[G7 Officials to Discuss Releasing Strategic Oil Reserves Next Week] On March 26, French Trade Minister Papin stated that finance ministers, central bank governors, and energy ministers from the Group of Seven (G7) will discuss the issue of releasing strategic oil reserves at next week's meeting. The conflict between Iran, the United States, and Israel has led to the blockade of the Strait of Hormuz, affecting approximately one-fifth of the world's energy supply. Member countries of the International Energy Agency (IEA) agreed on March 11 to release part of their strategic reserves, and Director General Birol stated that more reserves could be released if necessary.