G7 leaders have come together to draft a joint statement urging for a reduction in tensions in the Israel-Iran conflict, according to sources and a draft reviewed by Reuters. However, US President Donald Trump has not yet given his approval for the draft. The statement emphasizes the importance of maintaining market stability, particularly in energy markets, and asserts Israel's right to self-defense.

Trump has called for immediate discussions between Israel and Iran as concerns mount over the potential for the conflict to escalate into a larger regional war. He stressed the need for dialogue between the two nations, especially in light of Tehran's nuclear program.

British Prime Minister Keir Starmer shares these concerns, highlighting the global implications of heightened tensions. He expressed the significant risks associated with a potential escalation of the conflict, both regionally and on a global scale. Starmer confirmed that he has already engaged in discussions with Trump on the matter and reiterated the unanimous agreement among all G7 members on the necessity to de-escalate the situation.

Germany also plans to issue a joint statement on Iran, with German Chancellor Friedrich Merz stating that it will emphasize the importance of preventing Iran from obtaining nuclear weapons-related materials at all costs. This statement is expected to be the sole coordinated declaration from the summit, as leaders continue to be at odds on various issues such as trade and climate policies.