This statement was made following a video meeting of the leaders of Canada, France, Germany, Italy, Japan, the UK, the U.S., and the EU on March 11.
The press release stated that the possible escort of vessels will take place when security conditions permit and following discussions with shipping companies, carriers, and insurers.
"G7 intends to coordinate its actions with Persian Gulf countries regarding the economic consequences of the war in the Middle East, including the impact on farmers and food security," the statement wrote.
"This situation underscores the importance of realizing the program of energy independence and electrification to reduce our dependence on geopolitical shocks."
G7 countries reaffirmed their unity and determination to continue sanctions against Russia, Radio Liberty wrote.
The Strait of Hormuz remains effectively blocked due to the war in the Middle East, in particular due to mining and Iranian strikes. It is the world's most important route for the export of oil and liquefied natural gas (up to 20% of global supplies), connecting the largest hydrocarbon producers in the Persian Gulf, such as Saudi Arabia, Iran, Iraq, Qatar, Kuwait, and the UAE, with the Gulf of Oman and the Arabian Sea.
On March 11, unknown munitions hit a Thai dry cargo ship in the Strait of Hormuz. 20 crew members of the Mayuree Naree ship were rescued; three people remain missing. On the same day, it was reported that a container ship was hit off the coast of the UAE.