G7 leaders will hold a video conference on Wednesday to discuss the economic consequences of the war in the Middle East, particularly the “energy situation”, the French presidency has said, according to AFP.

“This will be the first discussion on these issue between G7 members. Economic coordination is a key issue for an effective and useful response to the situation,” the Elysee said. The meeting will start at 1400 GMT.

President Emmanuel Macron will chair the meeting, as France holds the G7 presidency this year.