Three Global Institutions Form Special Group to Prevent Crisis from Trump War
Jakarta, CNBC Indonesia - Leaders of three international institutions have agreed to form a special group as a coordination platform to respond to potential energy and economic crises resulting from the war in the Middle East.
The three international institutions are the International Energy Agency, International Monetary Fund, and World Bank Group.
“Leaders of the International Energy Agency, International Monetary Fund, and World Bank Group have agreed to form a coordination group to maximise each institution’s response to the energy and economic impacts of the war in the Middle East,” quoted from a joint statement by the three institutions’ leaders on Thursday (2 April 2026).
They stated that the current warfare in the Middle East has caused major disruptions to life and livelihoods in the region and triggered one of the largest supply shortages in the history of global energy markets.
The warfare, started by US President Donald Trump and Israel by bombarding Iran on 28 February 2026, is considered to have also significantly impacted global economic activity, reflected in rises in oil, gas, and fertiliser prices, as well as raising concerns over food prices.
“Its impacts are significant, global, and highly uneven, with the burden disproportionately borne by energy-importing countries, particularly low-income ones,” as stated in the joint statement from the IEA, IMF, and World Bank leaders.
They said that global supply chains—including helium, phosphates, aluminium, and other commodities—have also been affected, as has the tourism sector due to flight disruptions at several major aviation hubs in the Gulf region.
The resulting market volatility, currency weakening in developing countries, and concerns over inflation expectations have increased the likelihood of monetary policy tightening and economic growth slowdowns.
“In conditions of high uncertainty like the current ones, it is crucial for our institutions to collaborate in monitoring developments, aligning analyses, and coordinating support for policymakers in addressing this crisis,” they emphasised.
They also assessed that it is important for countries most affected by the ongoing effects of the war, as well as those with more limited policy space and higher debt levels, to prepare anticipatory measures against worsening war impacts.
To ensure a coordinated response, the three international institutions stated they have agreed to form a group that will:
Assess the severity of impacts in various countries and regions through coordinated data exchange on energy markets and prices, trade flows, fiscal and balance-of-payments pressures, inflation trends, major commodity export restrictions, and supply chain disruptions.
Coordinate response mechanisms that may include: targeted policy advice, assessment of potential financing needs and provision of related financial support (including through concessional financing), and use of risk mitigation instruments as needed.
Mobilise relevant stakeholders, including other multilateral, regional, and bilateral partners, to provide coordinated and efficient support to countries in need.
This group will collaborate with and leverage expertise from other international organisations as required.
“We are committed to working together to maintain global economic and financial stability, strengthen energy resilience, and support affected countries and communities in achieving sustainable recovery, economic growth, and job creation through reforms,” said the leaders of the three institutions in the joint statement.
As is known, global oil prices have reversed direction and surged sharply. On Thursday’s trading (2 April 2026), after previously being pressured, this spike occurred amid escalating geopolitical tensions in the Middle East.
Based on Refinitiv data at 09:30 WIB, Brent crude was at US$106.16 per barrel, up from the previous close of US$101.16. Meanwhile, West Texas Intermediate (WTI) crude was recorded at US$104.32 per barrel, strengthening from US$100.12.
This rise equates to a surge of around 4.9% for Brent and 4.2% for WTI in one day. The movement came after oil prices had weakened in the previous session, even far from this week’s highs.
Looking back, oil prices had reached US$118.35 per barrel on 31 March 2026 for Brent. This means the market has experienced extreme volatility in a short time—from sharp surges, deep corrections, then back to rallies.
The main sentiment comes from developments in the conflict between the United States and Iran. US President Donald Trump stated that attacks on Iran will continue, including targeting energy and oil facilities in the coming weeks. This statement immediately shifted the market direction, which had previously been inclined towards wait-and-see.
Tensions in the region also heightened after a QatarEnergy-chartered oil tanker was reported hit by an Iranian cruise missile in Qatari waters. This incident has amplified concerns over the security of global energy distribution routes, particularly around the Strait of Hormuz, a vital oil trade corridor.
On the supply side, the International Energy Agency (IEA) has warned that supply disruptions are starting to be felt, especially in Europe in April. Until now, the region has been relatively safe due to long-term contract supplies, but that situation is changing as the conflict drags on.