Finance chiefs of the Group of Seven (G7) nations have declared their readiness to take “all necessary measures” to ensure the stability of the energy market and to limit the broader economic impact of recent volatility, France 24 reported.

Following an online meeting of finance ministers and central bank governors, the G7 countries also urged states to “refrain from imposing unjustified export restrictions on hydrocarbons and related products.”

The statement further emphasized that G7 central banks remain committed to maintaining price stability.