As the Israel-Iran conflict escalates, the G7 leaders have asserted that Tel Aviv has the right to defend itself while Tehran cannot have nuclear weapons, sources said, citing a draft statement.

The draft statement assumes significance as G7 leaders from the UK, Canada, France, Germany, Italy, Japan and the US, along with the European Union, will meet in the Canadian resort of Kananaskis on Tuesday. Prime Minister Narendra Modi, who is en route to Canada from Cyprus, will also attend the summit, where issues like the Israel-Iran conflict, Israel-Hamas war and the Ukraine war could be discussed.

According to the G7 draft statement, leaders have called on Israel and Iran to de-escalate tensions and avoid compromising regional stability, sources said. G7 leaders will also work to safeguard market stability, including the energy market, the draft statement said.

With an escalating Israel-Iran conflict, which is spiking global oil prices, the G7 summit in Canada is seen as a vital moment to try and restore a semblance of unity between democratic powerhouses.

This is a developing story. It will be updated.

Source: Reuters