At their first working dinner, G7 leaders endorsed the reopening of the Strait of Hormuz as part of the peace agreement between the United States and Iran. The development organization ONE welcomes this step but calls on G7 countries to provide greater support to African nations that have suffered severe and lasting economic and agricultural damage since the crisis began in February.  

Khalil Elouardighi, ONE’s Director for France, says: “Four months of turmoil in oil, fertilizer and currency markets have pushed already vulnerable countries deeper into crisis. Millions of people have paid the price for a war they did not cause. The Hormuz agreement may have averted a prolonged disruption to global oil and fertilizer supplies, but the damage has already been done. Markets will take months to recover, and many countries were struggling long before this crisis began. Reopening the Strait of Hormuz is welcome, but it is not enough. The G7 must now help the countries that have been hardest hit by the economic fallout of the conflict.” 

ONE is calling on G7 countries to provide emergency financing to the hardest-hit countries to help them mitigate the impact of the oil shock. It also urges G7 leaders to reactivate the Covid-era debt suspension initiative and to ask international financial institutions to develop debt restructuring solutions for the most affected low-income countries. 

*** ENDS*** 

Notes to the Editor: 

• ONE representatives are on the ground in Évian and available for interviews and background briefings. 

• ONE has published a new report showing how sharply G7 development assistance to Africa has declined: https://bit.ly/g7analysis2026 

ONE is a global, nonpartisan organization advocating for the investments needed to create economic opportunities and healthier lives in Africa. Since 2004, we have helped secure more than $1 trillion in new investments to build a safer, more prosperous world. Our trusted advocacy combines hard-hitting data, grassroots activism and political engagement to influence decision-makers and drive lasting change. Learn more at www.one.org. 

### 

FOR IMMEDIATE RELEASE: June 16, 2026  

Contact: Scherwin Saedi, [email protected]