G7

G7 leaders meeting in Germany discuss plans to reduce Russian revenues from oil exports amid a surge in energy prices.

But we haven’t and we’re not going to.” At the start of the meeting, four members of the G7 announced plans to ban imports of Russian gold as part of efforts to tighten the sanctions squeeze on Moscow. The European Union, which plans to ban imports of most Russian oil from the end of the year, has reservations about a US push for a broad oil price cap or “price exception” to restrict Moscow’s energy revenue. However, he said the G7 needed to work towards getting a maximum oil price and this needed the buy-in of oil producers in the Organization of Petroleum Exporting Countries and its allies in a group called OPEC+, which includes Russia. A French presidency official said Paris would push for a price cap on oil and gas and was open to discussing the US proposal. Leaders of Group of Seven (G7) nations have discussed plans to cap the price of Russian oil in order to put the squeeze on Moscow, which is benefiting from soaring energy prices, and cut off its means of financing the invasion of Ukraine.

The Partnership for Global Infrastructure and Investment will deliver game-changing projects to close the infrastructure gap in developing countries,

ABD Group credits the Memorandum of Understanding for commercial cooperation between the U.S. Government and the Government of Côte d’Ivoire with providing the necessary foundation of partnership for this deal to come to fruition. The program is expected to mobilize $2 billion in financing as a result of U.S. Government assistance, increase regional energy trade by five percent, and result in 2 gigawatts of advanced energy systems deployed. This new blended finance program for fund managers and project developers through the Digital Connectivity and Cybersecurity Partnership will promote the growth of resilient, secure digital ecosystems in developing countries. - The U.S. Agency for International Development (USAID) will aim to commit up to $50 million over five years to the World Bank’s new global Childcare Incentive Fund – $200 million public-private partnership to address the gap in suitable childcare infrastructure; boost women’s employment opportunities, productivity and income, and broader economic growth; and promote human capital and early learning for children. - The U.S. Government with U.S. firm NuScale Power LLC (Tigard, OR) will provide $14 million in support for the Front-End Engineering and Design study for Romania’s deployment of a first-of-its-kind small modular reactor (SMR) plant. Through this investment, DFC expects to mobilize $30 million in private capital. Uhuru has committed to investing at least 30 percent of capital in eligible portfolio companies that support DFC’s 2X women’s economic empowerment initiative, and over 40 percent of the Uhuru team members are women. - U.S. telecommunications company SubCom (Eatontown, NJ), awarded a $600 million contract, to build the Southeast Asia–Middle East–Western Europe 6 submarine telecommunications cable that will connect Singapore to France through Egypt and the Horn of Africa. The submarine cable will stretch over 17,000 km and connect countries across the region with high-speed, reliable connectivity. - In collaboration with G7 members as well as the European Union and multilateral organizations, the U.S. International Development Finance Corporation (DFC) is disbursing a $3.3 million technical assistance grant to Institut Pasteur de Dakar (IPD) for early-stage project development for an industrial-scale flexible multi-vaccine manufacturing facility in Senegal with potential annual capacity of millions of doses of COVID-19 and other vaccines, potentially using both viral vector and mRNA technologies. Addressing the current pandemic and preventing and preparing for the next one is crucial to U.S. economic and national security. In addition to supporting up to $1.3 million in U.S. exports, the project will help Angola meet their climate commitments, including generating 70% carbon-free power by 2025. Over the past year, members of the Administration have traveled to hear directly from countries on how we can meet their infrastructure needs, deepened our coordination across the U.S Government and with the G7, honed our infrastructure investment tools, and closed game-changing deals.

G7's Partnership for Global Infrastructure and Investment to help finance infrastructure in developing countries.

It’s an investment that will deliver returns for everyone,” Biden said, adding that it would allow countries to “see the concrete benefits of partnering with democracies”. French President Emmanuel Macron and British Prime Minister Boris Johnson were not present, but their countries are also participating. “I want to be clear.

ELMAU, Germany — The world's wealthiest democracies on Sunday announced a $600 billion global infrastructure initiative to counter China's push to exert ...

Both Italy and German have argued within the negotiations leading up to the meeting for the G7 to back short-term investments in gas. Biden’s initial plan had significant climate change goals that, while still present, have taken a backseat to an effort to combat the fuel cost crisis exacerbated by the war. The first of these so-called Just Energy Transition Partnerships is being rolled out in South Africa — others are under discussion in India, Indonesia, Vietnam and Senegal. German Chancellor Olaf Scholz said Sunday that Berlin's contribution to South Africa would amount to €300 million. The infrastructure plan was first unveiled a year ago, at last year’s G7 in Britain, but little progress was made and the program has been renamed. But much of the funding behind the new plan appears aspirational and seems to fall short of its lofty goals. The United States will aim to leverage a total of $200 billion for the program over the coming five years through a combination of federal financing and private sector investments.

SINGAPORE :Oil prices extended gains on Monday as investors stood on guard for any moves against Russian oil and gas exports that might come out of a ...

Advertisement "There seems to be a macro vs fundamentals battle going on at the moment," Warren Patterson, ING's head of commodity research said. Advertisement However, oil prices are well supported above $100 a barrel while the backwardation in prompt monthly spreads remained wide. Advertisement

G7 leaders meeting for a summit in the Bavarian Alps are seeking a deal to impose a “price cap” on Russian oil as the group works to curb Moscow's ability ...

The G7 group of rich democracies on Sunday announced an attempt to compete with China's formidable Belt and Road Initiative by raising some $600 billion for ...

Fallout from Russia's devastating invasion of Ukraine means that "even places in eastern Europe" could be brought into the fold, the official said. Around the world, the role of China's democratic rivals is "a chance for us to share our positive vision for the future" and for other countries to "see for themselves the concrete benefits of partnering with democracies," he said. Funding the kinds of projects that China currently dominates -- everything from roads to harbours in far-flung corners of the world -- is not "aid or charity," Biden said.

ELMAU CASTLE, Germany: The United States said on Sunday (Jun 26) that the G7 group of nations will ban imports of Russian gold with the aim of tightening ...

Worth £12.6 billion to the Russian economy in 2021, gold is also a refuge commodity in times of turmoil. Advertisement Advertisement

The leaders of the Group of Seven on Sunday mocked Russian President Vladimir Putin over his shirtless, bare-chested horse-riding picture.

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Putin has often appeared shirtless in images disseminated by the Kremlin. Putin's predilection for going shirtless doing outdoor activities is part of his carefully crafted strongman image. "There you go!

KYIV/POKROVSK — Russian missiles struck an apartment block and close to a kindergarten in the Ukrainian capital Kyiv on Sunday (June 26), in strikes United ...

Russia invaded Ukraine on Feb 24 in what the Kremlin called a "special military operation" it said was needed to rid the country of dangerous nationalists and ensure Russian security. The RIA agency quoted a pro-Russian separatist official as saying separatist forces had evacuated more than 250 people, including children, on Sunday from Sievierodonetsk's Azot chemical plant. Ukrainian presidential adviser Oleksiy Arestovych said the attack also hit a strategic bridge linking western Ukraine and the eastern battlefields. In his nightly address, Ukraine President Volodymyr Zelenskiy said a wounded seven-year-old girl was pulled from the rubble of a nine-storey apartment block. Yesterday we could not take it any more," she said. "I already told my husband if I die, please bury me behind the house." "She was not threatened by anything in our country. "They are trying to limit the transfer of our reserves and Western weapons to the east," he said in a message to Reuters. Mr Pavlo Kyrylenko, governor of the Donetsk region, said on the Telegram app that one civilian was killed and eight injured in Russian shelling on Sunday. The eastern battlefield city of Sievierodonetsk fell to pro-Russian forces on Saturday after Ukrainian troops retreated, saying there was no longer anything to defend in the ruined city after months of fierce fighting. Mr Zelenskiy said on Sunday that Ukrainian defences had only managed to shoot down some of the 62 missiles that Russian had fired in the previous 24 hours and reiterated Kyiv's demand for partners to supply modern air defence systems. "It's more of their barbarism," said Mr Biden, referring to the missile strikes on Kyiv, as leaders from the Group of Seven (G7) rich democracies gathered for a summit in Germany.

Western leaders hope to tighten vice around Vladimir Putin without causing backlash at home or in global south.

The gas cap would operate simply by European countries refusing to pay above an as-yet unspecified fixed price for Russian gas. About 95% of the world’s tanker liability coverage is arranged through a City of London-based insurance organisation called the International Group of Protection and Indemnity Clubs, which has to heed European law. Germany is probably the single G7 country most queasy about price caps. Joe Biden, at the outset of the summit held in the Bavarian alpine castle that formed the venue for the 2015 G7 meeting, said Putin had been thwarted by the degree of unity shown by the west. But behind the scenes, as Putin rained missiles on Kyiv and made further territorial gains in the east of Ukraine, there is deep concern that the west has not yet assembled the policy mix that will force him to back down. We must avoid the mistakes made after the 2008 crisis: the energy crisis must not produce a return of populism.

President Joe Biden and fellow world leaders, huddling in the Bavarian Alps, heard Monday from Ukrainian President Volodymyr Zelensky as they mull the next ...

How, when and by how much the price of Russian oil will be capped remains to be seen. "And if we let Putin get away with it, and just annex, conquer sizable parts of a free, independent, sovereign country, which is what he is poised to do ... then the consequences for the world are absolutely catastrophic." Officials said the precise mechanism for accomplishing the cap was still being worked out. High oil prices mean Russia is making more revenue from its energy exports, despite bans in Europe and the United States. The US will also announce $7.5 billion in new funding for Ukraine, part of a broader commitment from G7 nations to help the country make up its budgetary shortfalls. His entreaties will become more urgent following Sunday's missile hits on two residential buildings in Kyiv, the Ukrainian capital that had enjoyed relative calm in recent weeks as the fighting moved eastward.

In Germany today, President Biden will meet with G7 leaders and President Zelenskyy to continue delivering on our unwavering, unified commitment to.

The commitment by the leaders will include maintaining Ukraine’s credible military readiness and defense, including through the timely provision of modern defense equipment and advanced weapons systems. The U.S. Department of the Treasury will be issuing a determination to prohibit the import of new gold into the United States, which will prevent Russian participation in the formal gold market. G7 Leaders will decide to impose sanctions on those responsible for human rights abuses – including war crimes, exercising illegitimate authority in Ukraine, and involved in Russia’s tactics to steal Ukrainian grain or otherwise profit illegitimately from the war. The U.S. Department of Commerce will take its first action against companies engaging in backfill activities in support of Russia by adding several companies around the world to the Entity List, which will prohibit those companies from purchasing U.S.-made origin goods and technologies, such as semiconductors. Imposition of costs on those responsible for human rights abuses – including war crimes, profiteering, and illegitimate authorities. Russia’s GDP will likely decline by double digits, inflation is rising to over 20%, Russia’s struggling to make bond payments, and Russia’s defaulted on its sovereign debt for the first time in more than a century. G7 Leaders will align and expand targeted sanctions to further restrict Russia’s access to key industrial inputs, services, and technologies produced by our economies, particularly those supporting Russia’s armament industrial base and technology sector. The G7 will issue a statement of support for Ukraine, which will include significant new sanctions commitments to further intensify our economic measures against Russia. The effectiveness of our measures will only compound over time to further isolate Russia from the world economy. Using tariffs on Russian goods to help Ukraine. Earlier this year, G7 leaders committed to strip Russia of “most favored nation” trading status, which guaranteed low tariff rates for Russian goods sold globally. President Biden and other G7 leaders will seek authority to use revenues collected by new tariffs on Russian goods to help Ukraine and to ensure that Russia pays for the costs of its war. Measures targeting the Russian military production and supply chains.

SCHLOSS ELMAU, Germany: Group of Seven leaders on Sunday (Jun 26) pledged to raise US$600 billion in private and public funds over five years to finance ...

French President Emmanuel Macron and British Prime Minister Boris Johnson were not present, but their countries are also participating. It's an investment that will deliver returns for everyone," Biden said, adding that it would allow countries to "see the concrete benefits of partnering with democracies". Advertisement

The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant toraise pressure on Russia over its war in Ukraine, ...

Western sanctions have hit Russia's economy hard and the new measures are aimed at further depriving the Kremlin of oil revenues. G7 nations, which account for nearly half the world's economic output, are determined to crank up the pressure on Russia without stoking already soaring inflation that is particularly hurting the global south. Register now for FREE unlimited access to Reuters.com

Balance between protecting shared values and doing business with China can be found, British Prime Minister Boris Johnson said on Sunday as world leaders ...

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Group of Seven leaders pledged to raise the sum in private and public funds over five years to finance needed infrastructure in developing countries as an ...

It's an investment that will deliver returns for everyone," Biden said, adding that it would allow countries to "see the concrete benefits of partnering with democracies." French President Emmanuel Macron and British Prime Minister Boris Johnson were not present, but their countries are also participating. Friederike Roder, vice president of the nonprofit group Global Citizen, said the pledges of investment could be "a good start" toward greater engagement by G-7 countries in developing nations and could underpin stronger global growth for all. "I want to be clear. Biden said the United States would mobilize $200 billion in grants, federal funds and private investment over five years to support projects in low- and middle-income countries that help tackle climate change as well as improve global health, gender equity and digital infrastructure. Group of Seven leaders Sunday pledged to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitrillion-dollar Belt and Road project.

SCHLOSS ELMAU, Germany: US President Joe Biden told allies "we have to stay together" against Russia on Sunday (Jun 26) as G7 leaders gathered for a summit ...

Advertisement But we haven't and we're not going to," Biden said. Advertisement G7 host German Chancellor Olaf Scholz invited Senegal, Argentina, Indonesia, India and South Africa as partner nations at the summit. Advertisement Advertisement

Oil prices edged higher on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a ...

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Japan is pushing to remove a target for zero-emission vehicles from a G7 communique expected this week, according to a proposed draft seen by Reuters, ...

A person familiar with the matter confirmed that Japan had proposed the changes, declining to be identified because of the sensitivity of the issue. G7 leaders are meeting in the Bavarian Alps for a summit where climate change figures on the agenda. Reuters reported last week that Toyota Motor Corp's (7203.T) head lobbied the Japanese government to make clear it supported hybrid vehicles as much as zero-emission battery electrics.

SCHLOSS ELMAU, Germany: The Group of Seven rich democracies will commit on Tuesday (Jun 28) to a new package of coordinated actions meant to raise pressure ...

Western sanctions have hit Russia's economy hard and the new measures are aimed at further depriving the Kremlin of oil revenues. G7 nations, which account for nearly half the world's economic output, are determined to crank up the pressure on Russia without stoking already soaring inflation that is particularly hurting the global south. "The dual objectives of G7 leaders have been to take direct aim at (Russian President Vladimir) Putin's revenues, particularly through energy, but also to minimise the spillovers and the impact on the G7 economies and the rest of the world," the US official said on the sidelines of the annual G7 summit.

Group of advanced economies aims to restrict Moscow's ability to import technology for its military.

A working dinner during the first day of the G7 summit at Bavaria's Schloss Elmau castle, near Garmisch-Partenkirchen, Germany, on June 26.

"The activities happening in the area of Syevyerodonetsk are a tactical regrouping of our troops. On the first day of the war they found themselves facing a new danger, as Russian tanks rolled through their villages -- and opened fire. So the Ukrainian forces are leaving for higher ground to continue the defense operations," he said. Vilnius shut the route for transport of steel and other ferrous metals, which it says it is required to do under EU sanctions that took effect on June 18. For all of RFE/RL's coverage of the war, click here. It claimed in a statement that damage to a nearby residential building had been caused by a Ukrainian air- defense missile. Klitschko said one person was killed and six were injured, including the 7-year-old, who was in stable condition after surgery. The White House said it would implement sanctions on hundreds of individuals and entities, adding to the more than 1,000 already sanctioned. For all of RFE/RL's coverage of the war, click here. A previous test of the Zuljanah took place in February 2021. It said that two other state-owned steel companies -- Mobarekh and Hormozgan -- had been targeted in the attack, adding that all three companies were affiliated with Iran's Revolutionary Guard Corps (IRGC). For all of RFE/RL's coverage of the war, click here.

The leaders of the world's seven most industrialized nations mocked Russian President Vladimir Putin's tough-guy image on Sunday, after arriving for the G7 ...

Horseback riding is the best.” Johnson added, “We’ve got to show them our pecs.” Can we take our clothes off?” before adding: “We all have to show that we’re tougher than Putin.” As they sat down for a meeting in a warm room, U.K. Prime Minister Boris Johnson asked: “Jackets on?

The United States said on Monday it and its G7 allies planned further action to support Ukraine and sanctions against Russia over its invasion of its ...

Visa restrictions will target approximately 500 officials for violating Ukraine's sovereignty or suppressing dissent in Russia. The G7 leaders will also commit to continue to target efforts by those engaging in sanctions evasion. Register now for FREE unlimited access to Reuters.com This will prohibit those companies from purchasing U.S-made goods and technologies, such as semiconductors. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

G7 leaders pledged to raise $600 billion to finance infrastructure in developing countries. Observers hope the scheme will underpin stronger global growth.

We are opposed to pushing forward geopolitical calculations under the pretext of infrastructure construction or smearing the Belt and Road Initiative.” It's an investment that will deliver returns for everyone," Biden said, adding that it would allow countries to "see the concrete benefits of partnering with democracies." French President Emmanuel Macron and British Prime Minister Boris Johnson were not present, but their countries are also participating. Friederike Roder, vice president of the non-profit group Global Citizen, said the pledges of investment could be "a good start" toward greater engagement by G7 countries in developing nations and could underpin stronger global growth for all. "I want to be clear. Group of Seven leaders pledged to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitrillion-dollar Belt and Road project.

Crude price cap should not just apply to Russia, says Macron, as leaders seek to ease energy pressures.

Also, Russia defaults on its debt and New Zealand's prime minister loses support at home.

But the repeated appearance of certain items can start to look odd. “But if you look from overseas, you don’t see the lack of policy, you see the personality. For seven years, a photographer in India has documented beautifully crafted birdhouses known as chabutras — taking photographs, collecting local narratives and recording people’s memories associated with the structures. The plan includes more trees and pedestrian-friendly streets. Many, however, see the government’s responses as inadequate and are dissatisfied by overseas comparisons. But with most of the virus restrictions lifted, her government has lost its unifying fight against the pandemic and, with it, much of its bipartisan support. What it means: The default will linger in investors’ memories and probably push up Russia’s borrowing costs in the future. Ms. Ardern’s pandemic success helped lift her party to an outright majority in Parliament during the last election, in October 2020. The default was prompted by widespread Western sanctions that sought to seal Moscow off from global capital markets following its invasion of Ukraine. NATO intends to significantly increase allied forces on “standby”from 40,000 to 300,000, one topic that leaders will discuss at the alliance’s annual summit this week. Dmitri S. Peskov, the Kremlin’s spokesman, told reporters that the statements about default were “absolutely illegal.” On Monday, China’s government rejected the criticism that its own efforts were “debt traps.”

As Macron proposes worldwide price controls, economists warn market manipulation could backfire. G7 Leaders Convene For Summit At Schloss Elmau.

But really India needs to be part of this to have enough to turn the sellers’ market into a buyers’ market.” So its income is up, its trade balance and current accounts are improving, more money is coming in and Russia can use that to finance the war. If prices were going down again, that would be good for internal reasons in the G7 countries, for populations who are suffering high prices for food and energy. “Russia is still selling lots of gas and oil, and its income is increasing from the sales because the price has gone up and there’s more scarcity on the markets. “If it's excessive demand, then it’s the central bank that is your first line of defense.” But, he added, “Price controls generally don’t help much.” Kirton said there was a scenario that might increase the likelihood that price caps would help: If G7 leaders used the cap in conjunction with releasing large amounts from their strategic reserves. In the same era, U.S. President Gerald Ford rolled out an ill-fated program called WIN, for “Whip Inflation Now.” It failed and became a punchline of jokes on late-night television. “But the logic I understand from the French, and maybe better ask them what really is behind this, is that … we can apply this globally.” We have had price controls under the father of the current Canadian prime minister.” The G7 powers do in fact have some more ancient pedigree when it comes to panicked experiments in price controls. U.S. officials at the summit were exasperated, but not surprised by Macron’s plan, and said they believed the French president would ultimately come round but that it might take a while to hash through details and get a deal. It was unclear how France's negotiation-led approach would convince the kingpins of crude to open the spigots.

ELMAU CASTLE, Germany: President Volodymyr Zelenskyy on Monday (Jun 27) urged world powers to do their utmost to help end Russia's invasion by the end of ...

Advertisement Advertisement Advertisement Advertisement "We will continue to provide financial, humanitarian, military and diplomatic support and stand with Ukraine for as long as it takes," the G7 said in a statement on the summit's second day. ELMAU CASTLE, Germany: President Volodymyr Zelenskyy on Monday (Jun 27) urged world powers to do their utmost to help end Russia's invasion by the end of the year, as Group of Seven (G7) leaders planned new sanctions and vowed to support Ukraine "as long as it takes".

Plus, Johnson wins vote to rip up N Ireland protocol and Luxottica founder Leonardo Del Vecchio dies.

KREMENCHUK: Russian missiles struck a crowded shopping mall in central Ukraine on Monday (Jun 27) , President Volodymyr Zelenskiy said, as Moscow fought for ...

The war has killed thousands, sent millions fleeing and laid waste to cities. "Russian President Putin and those responsible will be held to account." He left his name and phone number with the rescue workers in case his friend is found. As night fell in Kremenchuk, firefighters and soldiers brought lights and generators to continue the search. Russia has not commented on the strike, which was condemned by the United Nations and Ukraine's Western allies. He said the death count could rise.

The Group of Seven rich nations are debating a global price cap for Russian oil that would curb Moscow's energy revenues and potentially limit its ability ...

France has said the oil price cap mechanism should extend beyond Russian products so that it had a broader impact to reduce prices. The price would still have to be high enough for Russia to keep exporting. So if a shipper or importer wanted these services they would have to commit to the Russian oil being sold for a set maximum price.

According to a draft text seen by the Financial Times, leaders will explore the “feasibility” of introducing temporary price caps on imports of energy — a ...

G7 denounces 'war crime' after Russian missile attacks on a crowded Ukrainian shopping mall kills at least 16 people.

The NATO response force currently has about 40,000 soldiers. They also pledged to continue supporting Ukraine “for as long as it takes”. In a joint statement Monday after they held a session by video link with Zelenskyy, the leaders underlined their “unwavering commitment to support the government and people of Ukraine in their courageous defense of their country’s sovereignty and territorial integrity”. The President of the European Commission Charles Michel slammed Russian for what he called a “horrendous and indiscriminate” attack on Kremenchuk. “Russian scare and intimidation tactics will never work,” he wrote on Twitter. “Ukraine will prevail with support of its partners at G7 and beyond.” The leaders of the G7 have condemned a deadly Russian missiles attack on a crowded Ukrainian shopping mall as an “abominable” war crime. In a statement on Monday, the G7 leaders, who are holding a meeting in Germany, promised that Russian President Vladimir Putin and those responsible for the attack would be held to account.

The Partnership for Global Infrastructure and Investment scheme would allow countries to 'see the concrete benefits of partnering with democracies', ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Internationally, infrastructure has long been underfunded, with over USD 40 trillion in estimated need in the developing world a need that will only increase with the climate crisis and population growth. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Through this investment, DFC expects to mobilise USD 30 million in private capital, the fact sheet said. "Together with G7 partners, we aim to mobilise USD 600 billion by 2027 in global infrastructure investments.

They also pledged to continue “sustaining and intensifying international economic and political pressure” on the government of Russian President Vladimir Putin ...

That came shortly after US President Joe Biden said on Sunday the G7 planned to ban the import of Russian gold. The participants at the meeting also pledged to “further reduce dependency on Russian energy”, with a senior US official telling reporters earlier in the day that the G7 countries were working to “develop mechanisms to set a global price cap for Russian oil in shipments to countries outside of the US, EU, the UK, and the broader G7”. We will continue to increase pressure on Putin. This war has to come to an end.

Investors eyed the G-7 meeting this week for possible moves on Russian oil exports and a revival of the Iran nuclear deal.

However, worries of rising U.S. production held back further gains. "There's still nothing stopping Russia from banning oil and refined product exports to G7 economies in response to a price cap, exacerbating shortage conditions in global oil and refined product markets." G7 leaders, who began their meeting on Sunday, are expected to discuss options for tackling rising energy prices and replacing Russian oil and gas imports, as well as further sanctions that do not exacerbate inflation. Oil prices edged higher on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations in Germany. Members of the Organization of the Petroleum Exporting Countries and their allies including Russia, known as OPEC+, will likely stick to a plan for accelerated oil output increases in August when they meet on Thursday, sources said. Both contracts closed down for the second week in a row on Friday as interest rate hikes in key economies strengthened the dollar and fanned recession fears.

From Scandinavia to Africa, Asia and Latin America, many countries find themselves between the trenches. That's a bad place to be.

Group of Seven leaders considered a possible cap on the price of Russian gas exports on Monday as a way to put the squeeze on the funding for Vladimir ...

Wade – a controversial move that eliminates the federal constitutional right to abortion nationwide. The leaders pledged in a statement to support Ukraine "for as long as it takes." The fall of Roe v. The stunning leak of a U.S. Supreme Court draft opinion to strike down the landmark Roe v. Together, with our G7 counterparts, Canada is stepping up our continuous and co-ordinated pressure to bring about the end of Vladimir Putin's war of choice." Trudeau announced Tuesday morning that the confidence-and-supply agreement has been brokered, and is effective immediately. Six candidates are on the ballot to become the Conservative Party's next leader. The night before, in Ukraine's capital city Kyiv, weeks of general calm were shattered by Russian missile strikes. They also acknowledged the details are still in the works. In a virtual appearance, he laid out what his country needs, including tougher sanctions to keep Putin from financing the war. Most people in Canada do not think people should have to swear an Oath of Allegiance to the Queen, according to a poll ahead of Canada Day. Not too conservative.'

JUNE 27, 2022. STATEMENTS AND RELEASES. In Germany today, President Biden will meet with G7 leaders and President Zelenskyy to continue delivering on our ...

The commitment by the leaders will include maintaining Ukraine’s credible military readiness and defense, including through the timely provision of modern defense equipment and advanced weapons systems. The U.S. Department of the Treasury will be issuing a determination to prohibit the import of new gold into the United States, which will prevent Russian participation in the formal gold market. G7 Leaders will decide to impose sanctions on those responsible for human rights abuses – including war crimes, exercising illegitimate authority in Ukraine, and involved in Russia’s tactics to steal Ukrainian grain or otherwise profit illegitimately from the war. The U.S. Department of Commerce will take its first action against companies engaging in backfill activities in support of Russia by adding several companies around the world to the Entity List, which will prohibit those companies from purchasing U.S.-made origin goods and technologies, such as semiconductors. Imposition of costs on those responsible for human rights abuses – including war crimes, profiteering, and illegitimate authorities. Russia’s GDP will likely decline by double digits, inflation is rising to over 20%, Russia’s struggling to make bond payments, and Russia’s defaulted on its sovereign debt for the first time in more than a century. G7 Leaders will align and expand targeted sanctions to further restrict Russia’s access to key industrial inputs, services, and technologies produced by our economies, particularly those supporting Russia’s armament industrial base and technology sector. The effectiveness of our measures will only compound over time to further isolate Russia from the world economy. The G7 will issue a statement of support for Ukraine, which will include significant new sanctions commitments to further intensify our economic measures against Russia. Using tariffs on Russian goods to help Ukraine. Earlier this year, G7 leaders committed to strip Russia of “most favored nation” trading status, which guaranteed low tariff rates for Russian goods sold globally. President Biden and other G7 leaders will seek authority to use revenues collected by new tariffs on Russian goods to help Ukraine and to ensure that Russia pays for the costs of its war. Measures targeting the Russian military production and supply chains.

Ukrainian President Volodymyr Zelenskiy addresses Group of Seven leaders and EU representatives via video link at the G7 summit in Germany on June 27.

She said it was “heartbreaking” to hear accounts from witnesses and victims of the war. The statement said Akhmetov was seeking compensation from Russia for the "trampling of his property rights." Only an attempt on the people who try to live a normal life, which so angers the [Russians]," he wrote. Turkey's opposition to Finland and Sweden's bids to join the alliance is also a sticking point on the agenda. EU countries have been forced to find oil suppliers other than Russia as they seek to lower their reliance on Russian energy amid the war in Ukraine. The 64-year-old was reelected to his second presidential term in October 2021. Authorities said the number of victims had yet to be confirmed. The Treasury Department said that Rostec's "management umbrella includes more than 800 entities across a wide range of sectors" and that all entities owned 50 percent or more by Rostec are blocked. The budget support that has been pledged and provided thus far in 2022 amounts to $29.5 billion, the statement said. For all of RFE/RL's coverage of the war, click here. "Imagine if we allowed Putin to get away with the violent acquisition of huge chunks of another country, sovereign, independent territory," Johnson told the BBC. "The lessons for that would be absolutely chilling. For all of RFE/RL's coverage of the war, click here.

The Partnership for Global Infrastructure and Investment (PGII) unveiled on Sunday during the G7 Summit relaunches a scheme unveiled at last year's G7 talks ...

Internationally, infrastructure has long been underfunded, with over $40 trillion in estimated need in the developing world –– a need that will only increase with the climate crisis and population growth. Through this investment, DFC expects to mobilise $30 million in private capital, the fact sheet said. "Together with G7 partners, we aim to mobilise $600 billion by 2027 in global infrastructure investments. "I want to be clear – the G7's announcement of a new global infrastructure partnership isn't aid or charity. And this will only be the beginning. Historiography under previous governments can, and should, be contested.