BRUSSELS — The war in Iran has reduced the world’s seven most advanced economies to the most rudimentary of policies: waiting. Finance and energy ministers and central bankers from Canada, France, Germany, Italy, Japan, the U.S. and the U.K. held an unprecedented joint meeting on Monday to coordinate a response to the ongoing crisis in the Middle East. The most they could produce was a statement that contained a thinly-veiled plea to the likes of Russia and China to stop restricting fossil fuel

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