G20 to Postpone Meetings, Hold Others Virtually amid Coronavirus Scare

G20 to Postpone Meetings, Hold Others Virtually amid Coronavirus Scare
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G20 to Postpone Meetings, Hold Others Virtually amid Coronavirus Scare

G20 to Postpone Meetings, Hold Others Virtually amid Coronavirus Scare

Saudi Arabia, which currently chairs the G20 group, confirmed taking precautionary measures during meetings scheduled to be held this March to limit the spread of the coronavirus

Riyadh announced it intends to postpone a number of meetings and hold others virtually, while it will continue to assess the situation regarding COVID-19’s outbreaks.

The Saudi G20 Presidency will continue to convene, foster, support and coordinate international efforts to counter the impacts of the COVID-19 pandemic, both in human and economic terms, said the statement.

The statement indicated that G20 Presidency has taken necessary precautionary measures for all meetings through to the end of March whilst ensuring important discussions continue to take place and efforts are focused on the global response to COVID-19.

“The G20 is implementing new arrangements for scheduled meetings through to the end of March. Some meetings will be postponed, and some will be held virtually.”

The G20 announced that it is working closely with the World Health Organization (WHO) and the Saudi Ministry of Health given the rapidly changing circumstances around COVID-19, including elevated travel restrictions, and will continue to evaluate the status of meetings.

On Friday, G20’s Sherpas discussed the COVID-19 pandemic and its impact on people and the global economy during their second meeting in Khobar, Saudi Arabia.

“We are deeply saddened by the human tragedy caused by the spread of COVID-19 and stand in solidarity with all affected countries,” said in a statement issued after the meeting.

The statement stated that G20 countries will enhance cooperation and coordination to control the outbreak, protect people, mitigate the economic impact, and maintain economic stability, while avoiding stigmatization.



Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
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Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER

War risk insurance premiums for shipments to the Middle East Gulf have jumped to 0.5% from around 0.2-0.3% a week ago after US airstrikes on Iran’s nuclear facilities and growing risks to the critical Strait of Hormuz, insurance sources said on Monday.

The cost of a seven-day voyage is based on the value of the ship and the increase will add tens of thousands of dollars each day in additional costs.

While underwriters typically price risk and rates individually, the current 0.5% level reflected rates on Monday, the sources told Reuters and The Insurer, which is part of the Thomson Reuters group.