As finance ministers gather in Washington, DC, for the IMF-World Bank Spring meetings amid warnings of a global recession, a coalition of 130+ civil society organisations is demanding that governments secure a permanent end to the wars in Southwest Asia and break the chains of fossil fuel dependence.
The open letter highlights that, in addition to thousands of civilians killed by US and Israeli bombs, millions globally are being pushed into hunger and debt because of the iron grip of oil and gas on our economies. To call attention to the action, the group projected a large message, ‘No Bombs, No Barrels’, onto the headquarters of the World Bank and IMF in Washington DC.
The coalition says that while these meetings are about the global economy and affordability crisis, they are sitting on the most obvious solutions: end the war, tax the huge windfall profits that oil and gas companies are making from the conflict, and dump fossil fuels for good in favour of secure and affordable renewable energy.
The statement, ‘They Profit, We Pay. Fix It Now’, sets out four urgent demands.
Firstly, the coalition called for an end to the war completely and permanently: Civilians are bearing the brunt of ongoing violence, losing lives, homes, and stability. Temporary ceasefires are not enough. This illegal war must end.
Secondly, the coalition asked that the profiteers be made to pay. 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.
Additionally, the coalition urged that officials ensure food and energy security for all. Public investment should prioritise sustainable agriculture and renewable energy, while ending subsidies for fossil fuels and weapons.
Fourthly, the coalition requested debt cancellation. Many Global South countries are unable to respond to the crisis due to heavy debt burdens.
The coalition is backed by over 130+ organisations spanning trade unions, grassroots movements, faith groups, and NGOs.
“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,” said Ziad Abdel Samad, Executive Director, Arab NGO Network for Development.
Savio Carvalho, Managing Director of 350.org, noted that 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,” added Carvalho. “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, pointed out that 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”.
Tukahirwa said, “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.”
“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,” said Rev. Fletcher Harper, Executive Director, GreenFaith.
Similarly, David Archer, Head of Programmes and Influencing, ActionAid, said, “Billions of people across the Global South are living 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.”
