Germany must assume that the energy price shock caused by the Iran war will persist, leaving the economic situation extremely fragile, Finance Minister Lars Klingbeil has said before travelling to the International Monetary Fund spring meetings, Reuters reports.

Klingbeil says he will discuss with finance ministers and international organisations which measures are best suited to stabilise the economy and markets, as well as to provide targeted support to people and businesses that have been hit particularly hard.

“This crisis once again shows that we must become more independent, more crisis-proof and more resilient,” he says, adding that he will use the trip to Washington to present the German government’s reform agenda and promote investment in Europe’s biggest economy.