A coalition of over 130 civil society organisations has charged governments across the globe to secure a permanent end to the wars in South West Asia (Middle East), particularly in Iran, and break the chains of fossil fuel dependence. 

The development comes as finance ministers from various countries gather in Washington, DC, for the International Monetary Fund (IMF)-World Bank spring meetings, amid warnings of a global recession.

In an open letter issued on April 15, the 130+ CSOs comprising trade unions, grassroots movements, faith groups, and NGOs, noted that in addition to thousands of civilians killed by the U.S. and Israeli bombs, millions of people globally are being pushed into hunger and debt due to the iron grip of oil and gas on economies. 

To call attention to the action, the group projected a large inscription reading “No Bombs, No Barrels” on the wall of the headquarters of the World Bank and the IMF in Washington, DC. 

The coalition said that while the ongoing meetings focus on the global economy and the affordability crisis, the obvious solution is for governments to end the war, tax the huge windfall profits that oil and gas companies are making from the conflict, and phase out fossil fuels for good in favour of secure and affordable renewable energy.

They noted that in one month, over $100 billion has been extracted from people through rising energy costs. 

“Governments must tax fossil fuel windfall profits and use the revenue to fund public services and support households and workers facing rising living costs. Make food and energy secure for all: Public investment should prioritise sustainable agriculture and renewable energy, while ending subsidies for fossil fuels and weapons,” the CSOs coalition said.

They also noted that many Global South countries are unable to respond to the ongoing crisis due to heavy debt burdens.

“The multilateral system is no longer delivering on its founding promise of equality, rights, and rule-based governance. Persistent imbalances in power, unequal representation, and the selective application of international law have eroded its legitimacy and credibility. 

“This failure is starkly exposed in the ongoing war, where the inability to secure a permanent end to violence is costing civilian lives and deepening global instability. Without both an immediate end to the war and structural reforms to address these injustices, global governance risks becoming a tool of dominance rather than a framework for fairness,” Ziad Abdel Samad, executive director, Arab NGO Network for Development, said.

 Savio Carvalho, Managing Director 350.org, said, “While people struggle to afford food, fuel, and basic necessities, fossil fuel companies are profiting massively from the chaos. The IMF itself has warned of the risk of a global recession. 

“Governments gathering in Washington have a clear responsibility: end this illegal war, stop the flow of destruction, and make the profiteers pay. Taxing windfall oil and gas profits could provide immediate relief to families and invest in the clean, affordable energy systems we urgently need. They profit, we pay. It’s time to fix it now: no bombs, no barrels.”

Martha Tukahirwa, Fight Inequality Alliance Africa Coordinator, said while thousands are killed in the war in Iran, millions of people across Africa are being crushed by soaring fuel prices that have made even the simplest meal unaffordable. 

“In Nigeria, diesel has surged over 60 per cent. In Malawi, the poorest households are forced to choose between cooking and eating. In Zimbabwe, the cost of public transport has soared, making it impossible for working people to earn a living. 

“This is no accident – fossil fuel companies and commodity traders are reaping massive profits from this crisis while our governments stand idle. Tax these obscene profits and redirect the money to shield our people from hunger and hardship. The time for half measures is over, the time for bold action is now,” Ms Tukahirwa noted.

Rev. Fletcher Harper, Executive Director, GreenFaith, noted that, “Our faiths call us to make peace with people and the planet alike, and to hold the powerful to account. Letting fossil fuel giants pocket windfalls while families struggle is a moral failure. Taxing windfall profits to provide energy relief is not radical. It is basic justice.” 

 Meanwhile, David Archer, Head of Programmes and Influencing at ActionAid, said that billions of people across the Global South live in countries already facing a debt crisis. 

“This war will make their lives even harder, leading to rising prices and rising interest rates. We need urgent action to cancel debt and to take the power over debt away from the IMF and rich countries – through developing a UN Framework Convention on Sovereign Debt,” Mr Archer said.

Since the coordinated U.S.-Israeli attack on Iran, dubbed “Operation Epic Fury,” began on February 28, 2026, oil prices have been affected as Iran closed down the Strait of Hormuz, an essential passageway for oil vessels.