UK’s Reeves to Warn G7 Against Unilateral Trade Moves During Iran War

LONDON, March 29 (Reuters) – Britain’s ⁠finance ⁠minister will urge ⁠her G7 counterparts on Monday not ​to pursue unilateral measures such as new ‌trade barriers while the ‌Iran war continues, saying such ⁠steps could ⁠further threaten energy security.

During a meeting with G7 ​finance ministers, energy ministers and central bank governors, Rachel Reeves will say the G7 “should ​act together, not in ways that shift pressure ⁠onto ⁠partners or weaken collective ⁠resilience”, ​a statement released by her ministry said.

The Group ​of Seven (G7) ⁠wealthy nations includes the U.S., Britain, Canada, France, Germany, Italy and Japan, along with the European Union.

Reeves is expected ⁠to say that protectionism and new trade barriers could ⁠disrupt supply chains and drive up costs, and that cooperation is vital to keep energy and goods flowing and to bring down bills over time.

The war on Iran launched by the U.S. and Israel on February 28 has ⁠spread across the Middle East, killing thousands of people and hitting the world economy with the biggest-ever disruption to ​global energy supplies.

(Reporting by Catarina Demony; ​Editing by Helen Popper)

Copyright 2026 Thomson Reuters.

Photos You Should See – March 2026

A Kurdish woman in traditional dress holds a lit torch during Nowruz, the Persian New Year, on a hill overlooking the town of Akra in the autonomous Kurdistan Region of Iraq, Friday, March 20, 2026. (AP Photo/Leo Correa)

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