Finance leaders from the Group of Seven (G7) economic powers say they stand ready to take “all necessary measures” to safeguard energy market stability and limit broader economic spillover from current volatility, Al Jazeera reports.

After an online meeting of ministers and central bankers, the G7 also called on countries “to refrain from imposing unjustified export restrictions on hydrocarbons and related products”.

A statement added that G7 central banks remain strongly committed to maintaining price stability with monetary policy staying data‑dependent.