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For Immediate Release
May, 19 2026, 11:43am EDT
Contact:
Kim Bryan, 350.org Media Strategy and Relations Manager
kim.bryan@350.org
Hala Bounaidja Rachedi, Senior Digital and Communications Specialist
hala.rachedi@350.org
G7 Finance Ministers Let Big Oil Off the Hook Again
PARIS
On Monday and Tuesday, Paris hosted the G7 Finance Ministers’ meeting, bringing together finance ministers and central bank governors from some of the world’s most powerful economies, alongside counterparts from Brazil, India, Kenya, South Korea, Ukraine, Syria, Qatar and the United Arab Emirates. But behind the diplomatic pageantry,and despite the G7’s call for innovative financial instruments to urgently address overlapping crises,French host Roland Lescure squandered a major opportunity.
While fossil fuel companies raked in billions in profits in the first quarter of 2026 amid the South-West Asia conflict, campaigners at 350.org condemn the French G7 presidency’s glaring inaction on windfall and excess profits taxes targeting the oil and gas industry.
Fanny Petitbon, 350 France Country Manager, said:
“France has built its G7 presidency on the bold promise to use this forum as a lever to reinforce economic security in times of crisis and to respond to the legitimate concerns of citizens. But fine words ring hollow. When it comes to taxing the obscene profits recently made by oil and gas corporations, Paris chose complete silence. Not a single word appeared in the final communiqué.
Once again, the interests of a powerful minority are being protected. Companies like TotalEnergies, which boast of their so-called foresight while doing little more than speculating on war and human suffering, have cashed in billions,while families around the world pay the price at the pump and on their energy bills.
The G7’s initiative to expand insurance coverage for people and countries experiencing extreme weather events is welcome. But without turning off the fossil fuel tap and forcing the biggest polluters to foot the bill, climate finance risks becoming little more than taxpayers cleaning up a mess that oil giants are still being paid to create.
President Macron has positioned himself as a global leader on climate and economic justice. Yet this silence tells a very different story. Is this really the legacy he wants to leave in his final G7 presidency? The Leaders' Summit, to be held in Évian from June 15 to 17, is the last chance to course-correct and finally choose people over profit.”
350 is building a future that's just, prosperous, equitable and safe from the effects of the climate crisis. We're an international movement of ordinary people working to end the age of fossil fuels and build a world of community-led renewable energy for all.
LATEST NEWS
Cuba President Decries ‘Collective Punishment’ by US as ‘Act of Genocide’c
"We will continue to denounce, in the firmest and most energetic way possible, the genocidal siege that seeks to strangle our people," said President Miguel Díaz-Canel.
May 19, 2026
Cuba's president said Monday night that the Trump administration should be "criminally prosecuted" for its continued economic war on the island nation, saying the oil blockade that began more than three months ago as well as new sanctions are part of a "collective punishment" policy that amounts to an "act of genocide."
President Miguel Díaz-Canel suggested that the White House was aware that its latest round of sanctions against Cuban officials was unnecessary, noting that "there isn’t even any evidence to present"—but said the new measures announced by the State Department on Monday were a way of furthering "anti-Cuban rhetoric of hate... to justify the escalation of its total economic war."
"Under the leadership of our party, state, government, and its military institutions, no one has any assets or property to protect under US jurisdiction. The US government knows this full well," said Díaz-Canel. "That’s why we will continue to denounce, in the firmest and most energetic way possible, the genocidal siege that seeks to strangle our people."
Díaz-Canel spoke out after the administration said it was imposing sanctions on the Cuban intelligence agency and nine Cuban officials, including the country's ministers for communications, energy, and justice, and three military generals. Several officials in the Communist Party of Cuba were also sanctioned.
US Secretary of State Marco Rubio, who is the son of Cuban immigrants and has long pushed for regime change in the communist country, released a statement saying those targeted by the sanctions "are responsible for or have been involved in repressing the Cuban people."
"These sanctions advance the Trump administration’s comprehensive campaign to address the pressing national security threats posed by Cuba’s communist regime," said Rubio.
The sanctions were announced a day after a White House official claimed to Axios that Cuban officials are "discussing plans" for drone attacks on the US; the outlet acknowledged several paragraphs into its article on the alleged threat that Cuba is believed to be strategizing for a defensive attack as the US ramps up hostilities, rather than an unprovoked strike.
Díaz-Canel emphasized that the White House's sanctions are only the latest action taken against Cuba following the "immoral, illegal, and criminal" executive order President Donald Trump signed in January, which threatened countries with tariffs if they provided fuel to Cuba—resulting in a severe energy shortage on the island, frequent rolling blackouts, and a crisis in the country's healthcare system, with hospitals struggling to offer basic services. Farmers have said the shortage has left them unable to efficiently provide food to communities.
“We have absolutely no fuel and absolutely no diesel,” Energy Minister Vicente de la O Levy said last week.
Díaz-Canel said the US has pushed the blockade that has been in place for decades "to levels never seen before, penalizing companies that want to invest in Cuba or simply provide us with basic goods like food, medicines, hygiene products, or others."
"The collective punishment to which the Cuban people are being subjected is an act of genocide that must be condemned by international organizations and criminally prosecuted against its promoters," said the president.
He also expressed gratitude to the governments of Mexico and Uruguay, which sent a shipment of aid to Cuba on Monday.
"This donation, which arrives in very difficult days for Cuba due to the direct and multidimensional impact of the United States blockade on the daily life of our people, is a living testament to the historic solidarity between our peoples and to the principles of humanism, cooperation, and integration that must unite the region," said Díaz-Canel.
The Trump administration's invasion of Venezuela, abduction of President Nicolás Maduro, and takeover of its oil reserves in January cut Cuba off from its top energy supplier.
The US is reportedly now considering an indictment former Cuban President Raúl Castro for shooting down planes that belonged to a US group and violated Cuban airspace in 1996. Trump—who has attacked not only Venezuela but also Iran—has repeatedly mused about the possibility of invading Cuba.
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Israel's Smotrich Responds to ICC Arrest Warrant by Announcing More War Crimes
The far-right finance minister announced that he'd respond to an arrest warrant request for his forced expulsion of Palestinians by ordering the evacuation of another West Bank village.
May 19, 2026
Israel's far-right finance minister, Bezalel Smotrich, said on Tuesday that the International Criminal Court prosecutor had requested an arrest warrant against him, reportedly in response to his illegal forced expulsion of thousands of Palestinians in the West Bank.
He said he planned to "fight back" by issuing an order to forcibly evict hundreds more Palestinians from their homes in the West Bank.
During a news conference, Smotrich said he'd been informed Monday evening that the ICC prosecutor had secretly requested a warrant for his arrest in April. A formal warrant has not been announced by the court, and the official charges have not yet been publicized.
The Wall Street Journal reported last year that the prosecutor had been considering seeking an arrest warrant against Smotrich for his role in expanding Israeli settlements in the West Bank, which the International Court of Justice (ICJ) ruled in July 2024 was a violation of the Geneva Conventions because it entailed the forced removal of residents in the occupied Palestinian territories.
The ICC prosecutor was also preparing to issue an arrest warrant against fellow far-right settler politician, Security Minister Itamar Ben-Gvir, though there is not yet any reporting to suggest that this warrant has been issued.
Already, the ICC has issued arrest warrants for Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant for war crimes and crimes against humanity in Gaza.
In response to the reported warrant request for what the ICC considers a war crime, Smotrich celebrated the ongoing ethnic cleansing of Palestinians from the West Bank. He boasted of creating “over 100 new settlements” in the occupied territory and “160 farming outposts,” which he said helped Israel to control 247,000 acres of land in the territory.
The United Nations reported in March that over the previous year, more than 36,000 Palestinians in the West Bank had been forcibly displaced by settlement expansion and by violence committed by Israeli settlers.
Smotrich said the court's issuing of arrest warrants against him and other Israeli leaders was a "declaration of war" and said that "we will respond with war."
"From today, every economic or other target within my authority to strike—whether as Finance Minister or as a minister in the Defense Ministry—will be attacked. Not with words or gimmicks, but with actions," he said.
"I announce here and now the first target that will be attacked: immediately after my remarks, we will sign an order for the evacuation of Khan al-Ahmar," he added.
He was referring to a Palestinian Bedouin village of about 200 people on the eastern outskirts of Jerusalem, which has fought a yearslong legal battle against the Israeli government following orders by Ben-Gvir for it to be demolished to make room for a settlement.
The territory is especially significant because it would link two major settlements in East Jerusalem with the Jordan Valley as part of Israel's ongoing E1 settlement project, which is aimed at constructing settlements so that they cut the Palestinian-controlled areas of the West Bank in two.
Smotrich, who has led the E1 project, declared last year that the proposal “buries the idea of a Palestinian state because there is nothing to recognize and no one to recognize."
On Tuesday, Smotrich said his order for Palestinians to leave Khan al-Ahmar would be "only the beginning" of his response to the reported warrant request.
Jasper Nathaniel, an American journalist who reports from the West Bank, explained that "Smotrich just announced the official ethnic cleansing of a Palestinian village in response to the ICC warrant for his arrest."
Observers pointed out the brazenness of Smotrich's declaration in the face of an international tribunal.
Adil Haque, a professor of law at Rutgers University and the executive editor of Just Security, noted the remarkable irony: "The ICC office of the prosecutor reportedly requested an arrest warrant for his war crimes, so he announces a new one."
Along with Ben-Gvir, Smotrich was sanctioned last year by five countries—Australia, Canada, New Zealand, Norway, and the United Kingdom—which subjected them to travel bans and asset freezes.
Ori Goldberg, an Israeli expert on Middle Eastern studies, said international punishments against Smotrich needed to be even stronger after he announced "as stark a violation of international law as possible."
"Make the warrants public. Sanction this man and everybody else who foots the bill. EU Leadership—stop making fools of yourselves as the world is torn asunder," he said. "Show Israelis... the jig is up."
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Landmark Study Finds Trump’s Mass Deportation Agenda Is Costing Americans Jobs
"We see no evidence that employers increase wages to attract US-born workers to fill these jobs in the face of immigration enforcement."
May 19, 2026
A landmark study published by the National Bureau of Economic Research has found that President Donald Trump's mass deportation operations are actually costing Americans jobs, contrary to the White House's frequent claims that its anti-immigration agenda is helping US workers.
The NBER study, which was published last month and reported on by The New York Times Tuesday, claims to provide "the first national, causal empirical evidence on the labor market impacts of immigration enforcement in the second Trump administration," and finds that mass deportations have not resulted in more job offers for native-born Americans.
In fact, the study identifies "a negative and significant impact on employment of US-born male workers with at most a high-school education" who are working in industries that employ the most undocumented immigrants, including construction, agriculture, and manufacturing.
The study finds that instead of hiring more US-born workers in the absence of available undocumented workers—who may have been deported, left the country to avoid deportation, or have stayed home out of fear of immigration raids—employers are more likely to simply slow down economic activity altogether, which has a cascading impact on related industries.
"We see no evidence that employers increase wages to attract US-born workers to fill these jobs in the face of immigration enforcement," the researchers explain. "Instead, our results are consistent with employers reducing labor demand overall, including for jobs more often taken by US-born workers."
The NBER researchers also say that undocumented workers are more often than not complements to US workers, as they "are more likely than US-born individuals to work in jobs that are less desirable due to lower pay, on the job hazards, and irregular schedules."
University of Colorado, Boulder economist Chloe East, who co-authored the NBER study, told the New York Times on Tuesday that construction firms "view it as easier to reduce production, reduce the construction of new homes and new buildings in general, rather than try to increase wages for US-born workers."
East said that this would likely hurt efforts to build more housing in the US, telling the Times that "I assume we're going to see... a long-term shock to the construction sector" due to Trump's mass deportations.
Anirban Basu, chief economist at the Associated Builders and Contractors national trade organization, told the Times that he wasn't surprised by the finding that aggressive immigration raids shut down projects rather than open up new work for native-born Americans.
"Given high interest rates, given rising material prices and fewer people available to provide roofing, tiling, carpeting, and other flooring services," Basu said, "it renders fewer projects financially viable."
NPER's study echoes an analysis released last month by the Economic Policy Institute (EPI), which found that unemployment for US-born workers has increased since the start of Trump's second term, as the federal government has carried out its draconian deportation operations.
"Claims that mass deportations have helped US-born workers are simply inconsistent with the data," EPI wrote. "This is no surprise, given that economic research has repeatedly shown that increased immigration enforcement harms everyone in the labor market, including US-born workers."
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