Finance ministers and central bank governors from the G7 group have gathered in Paris for talks aimed at addressing growing global economic pressures, including tensions linked to China and rising energy insecurity caused by conflict in the Middle East.

The meeting, hosted by French Economy and Finance Minister Roland Lescure, is part of France’s agenda as it holds the rotating presidency of the G7 this year. Officials say the aim is not necessarily to reach full agreement but to build a shared understanding of the challenges facing the global economy.

Key discussions are focused on concerns over supply chains, especially dependence on China for critical minerals such as rare earths used in electronics, batteries, and defence systems. G7 countries are considering ways to reduce reliance on a single supplier through new trade arrangements and joint investment in processing facilities.

Trade tensions have also added pressure to the meeting, following recent tariff moves by the United States that have strained relations among members.

Another major issue is the impact of instability in the Middle East, including disruptions affecting the Strait of Hormuz, a vital route for global oil and gas shipments. The situation has contributed to higher energy prices and renewed fears of slower global growth and rising inflation.

French officials say discussions may also touch on the use of emergency oil reserves if market conditions worsen, though no formal decision has been made.

The talks are expected to continue over two days as G7 members try to find common ground on how to stabilise the global economy amid overlapping geopolitical crises.