ECB President Lagarde will hold a press conference after the Eurogroup meeting in 10 minutes.

Rania al‑Mashat, executive secretary of the UN Economic and Social Commission for Western Asia (ESCWA), said a US‑Iran war cost Arab economies roughly $150 bln in its first month, about 4% of regional GDP. She warned threats to navigation in the Strait of Hormuz and Bab al‑Mandeb are affecting trade, economic stability and access to essential goods; about 25% of seaborne oil trade and 19% of LNG trade transit the Strait of Hormuz. Gulf states are also major exporters of ammonia, fertilizer, sulfur and aluminum. Al‑Mashat said the conflict could delay investment and economic diversification across the Arab world and called for measures to prevent escalation, protect freedom of navigation and strengthen regional preparedness for further disruptions to supplies and services.

South Korea's Lee is assessing whether to increase the country's participation in the Strait of Hormuz.