G-7 to Hold Emergency Call as Israel-Iran Conflict Escalates

(Bloomberg) -- Leaders from the Group of Seven countries will hold an emergency meeting after Iran fired missiles at Israel, which vowed to retaliate, in a dramatic escalation of hostilities in the region.

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Italy, which holds this year’s G-7 presidency, will host the extraordinary call on Wednesday. Foreign Minister Antonio Tajani told Parliament time was of the essence to avoid further escalation.

“There is still a chance we can avoid a war that could involve the entire Middle East,” he said. “We call on regional actors to act responsibly.”

Giorgia Meloni’s government has repeatedly called for military de-escalation and a cease-fire in both Lebanon and Gaza. During the meeting, G-7 leaders will discuss potential diplomatic solutions to ease tensions on the Israel-Lebanon borders.

“Iran risks setting the entire region on fire — this must be prevented at all costs,” German Chancellor Olaf Scholz said.

Israel Prime Minister Benjamin Netanyahu has vowed to retaliate against Iran after it fired about 200 ballistic missiles at Israel, a development that world powers fear could spiral into a broader regional war. Most of the missiles were intercepted. Iran first attacked Israel directly earlier this year, in response for its alleged involvement of the killing of high-ranking Iranian officials in Damascus in Syria.

Italy has a sizable military contingent in the United Nations Interim Force in Lebanon, a peacekeeping operation between Israel and Lebanon, as well as separate contingents that are engaged in training missions with the Lebanese Armed Forces.

Tajani said the former remained in Lebanon but that the latter had been reduced considerably.

He said that as long as the situation didn’t escalate further the Unifil contingent would stay, and called for the peacekeeping mission to be strengthened.

Tajani has long been active in attempting to defuse tensions in the region, and continues to advocate for a cease-fire. His first official visit after taking office was to Beirut. He told Bloomberg earlier this year he was engaged in talks to broker a deal on the Israeli-Lebanese land border.

Scholz also said Germany continued to work to broker a ceasefire between Israel and Hezbollah. Hezbollah is designated as a terrorist organization by the US.

“This would pave the way for people to return to northern Israel and at the same time open up the prospect of consolidating Lebanon’s statehood,” he said.

(Updates with comments from foreign minister, additional details, starting in third paragraph)

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