Leaders of the Group of Seven will discuss their response to the conflict and energy crisis between Russia and Ukraine
Leaders of the Group of Seven (G7) will meet in Germany for a three-day summit, which is expected to be dominated by the conflict between Russia and Ukraine. Additional sanctions on Moscow, possible diplomatic solutions and the possibility of capping Russian oil prices are on the agenda.
The G7 is made up of the United States, Canada, Great Britain, France, Germany, Italy, and Japan. EU officials also often participate in the group’s events.
It is the first such meeting since Russia launched its military campaign in Ukraine in late February. Subsequently, G7 members have imposed sweeping sanctions on Moscow and many are supplying kyiv with weapons, including missile launchers and other heavy weapons.
The leaders are expected to coordinate increased pressure on Russia and assistance to Ukraine. Prior to the current meeting, US Secretary of State Antony Blinken announced that Washington will continue to discuss “diplomatic strategies” with Ukraine and other partners.
We are in Germany for the G7. I look forward to conversations about our nations’ shared values and priorities: climate, developing infrastructure, global health security, and shaping the rules of the road for the economy and technology for decades to come. . pic.twitter.com/M63vwWXyht
— President Biden (@POTUS) June 26, 2022
Meanwhile, British Prime Minister Boris Johnson urged the G7 and NATO not to push Ukraine to “settle for a bad peace”, which would imply territorial concessions to Russia.
Politico magazine has recently reported that Western countries are becoming “Increasingly frustrated” that the bans on Russian oil have caused increases in the price of gasoline. US Treasury Secretary Janet Yellen has proposed a price cap on Moscow crude to cope with rising prices and reduce Russia’s revenue. The proposal is on the G7 agenda, the magazine said.
Before the summit, Russian President Vladimir Putin blamed the rise in world inflation on “irresponsible” economic policies of the G7 members.
In addition to the Ukraine conflict, Reuters reports citing US sources, the G7 is also ready to tackle the China issue. “coercive economic practices”.
While Moscow and Beijing are likely to take center stage in the G7 leaders’ discussions, global climate challenges are also expected to receive their fair share of attention.
“We want to work together to combat global warming, achieve industrial transformation towards carbon neutrality and continue to have good jobs around the world.” German Chancellor Olaf Scholz said before the meeting.