(Excerpt)
(Monday, March ９, 2026, 10:51 pm to 10:59 pm)
[Opening remarks:]
- Minister)
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The G7 Finance Ministers’ Virtual Meeting was held today from 9:30 PM until just now, and I attended the meeting. At this meeting, we discussed the current situation in the Middle East and its impact on stability in the region, the global economy, trade, and financial markets. In addition to the G7 finance ministers, the heads of the IMF, World Bank, OECD, and IEA attended the meeting. We were briefed by the IMF on the impact on financial markets, including exchange markets, and the global economy. I first explained to the participants about the fluctuations in the Japanese financial market, including the stock market and the foreign exchange rate, in response to the rise in crude oil prices. With regard to the situation in the Straits of Hormuz, I explained that maritime transport through the Straits is extremely important for ensuring a stable supply of energy for Asian countries, including Japan, and for stabilizing international energy markets. In addition, regarding the initiative by the International Development Finance Corporation, DFC, to provide marine insurance as formally announced by President Trump, the Secretary of the Treasury of the United States gave a very detailed explanation, and I stated that I hope they will implement this thoroughly. In addition, the Chancellor of the Exchequer of the United Kingdom officially explained that Lloyd’s also underwrites reinsurance, and I clearly expressed my desire for both sides to cooperate and help us.
