The U.S. and Israeli war on Iran is having a catastrophic impact on the global economy, European members of the G7 have warned ahead of a key summit on Thursday. Foreign ministers from the group of leading industrialized nations — whose core members are the U.S., U.K., Canada, France, Germany, Italy and Japan — are set to meet in France for a two-day summit, with the wars in Iran and Ukraine top of the agenda. European leaders and ministers issued warnings about the impact of the war on the eve of the gathering, at which they're expected to encourage the U.S. to pursue an off-ramp with Iran.
