leaders of The world’s richest democracies have taken a unified stand for support Ukraine for “As long as it takes” like Russia invasion grind onThey said they would explore far steps To reduce the Kremlin’s income from oil sales that financed the war.
The final Tuesday statement from the group of seven peaks in Germany confirmed its intention to impose “extensive and immediate economic costs” on Russia. He. She left out key details on how Fossil fuels price caps Will be work in practiceAdjust up more Discussion in The coming weeks to “explore” import ban measures of Russian oil is above a certain level.
That would hit a key Russian source of income and, in theory, help relieves energy price Mutations and hypertrophy that afflicts global economy K result of the war.
“we remain steadfast in Our commitment to unprecedented coordination on Penalties for As long as necessary, act in The leaders said.
leaders also agreed on ban on imports of Russian gold and step up aid for countries hit with Food shortages due to the blockade on Ukrainian grain shipments through the Black Sea.
The price will hat in theory work By preventing service providers such as shippers or insurance companies from dealing with with Oil price is higher than A fixed level. maybe work Because most of the service providers are there in EU or UK thus within reach of Penalties. To be effective, it must include a lot of consumption countries as possible in India in particular, where refiners have been exploding up Cheap Russian oil shuns Western traders. details on how The proposal will be implemented were left for Ongoing conversations in the coming weeks.
The United States has already Preventing Russian oil imports, which were small in anyway. The European Union decided to impose a ban on 90% of Russian oil comes by sea, but it does not take effect Till the end of The yearwhich means that Europe continues to transmit money to Russia for energy even while condemning the war. while, higher global Oil prices softened the blow to Russian income, even as Western traders shunned Russian oil.
Energy themes have been front and center at the top the whole time. Europe strives to find new Sources of Oil and fresh supplies of Gas as requested by Russia back gas supply in What the leaders say is political move. Meanwhile, high energy prices are a headache for p-7 countries consumers.
Summit host, German Chancellor Olaf Schulz defended the G7 decision To ease termination obligations public support for Fossil fuel investments, saying war in Ukraine means a limited period of time support for new Natural gas extraction projects may be necessary.
The G7 countries said in Tuesday statement at the end of their three-day summit.in These exceptional circumstances, public-backed investment in The gas sector could be appropriate as a temporary response.”
Before the summit concludes, leaders joined in condemns what the Russians called “abhorrent” attack on shopping center in City of Krymchuk, calling it war crime He vowed that President Vladimir Putin and others involved would “be held accountable”.
leaders of The United States, Germany, France, Italy, the United Kingdom, Canada, and Japan on Monday pledged to support Ukraine”for As long as it takes ‘after given by video link with Ukrainian President Volodymyr Zelensky.
The host of the summit, German Chancellor Olaf Schulz, said, “Once again very surely set out Situation like Ukraine currently See it.” came Zelensky’s address hours Before Ukrainian officials reported a deadly Russian missile strike on crowded shopping mall in Center city of Kremenchug.
From the secluded Hotel Schloss Elmau in In the Bavarian Alps, the leaders of the Group of Seven will do move to Madrid for summit of NATO leaders where the repercussions of Russia invasion of Ukraine will again dominate the agenda. All G7 members except Japan are members of NATO, and Japanese Prime Minister Fumio Kishida has been invited to Madrid.
Zelensky publicly expressed his concern that the West has exhausted him cost of War contributes to rising energy costs and price walking long distances on essential commodities around the world. The Group of Seven has sought to allay those fears.
While the group Ukraine controlled its annual gathering, it was also controlled by the strikes of war-on Effects, like challenge to the food supply in slash of The world caused boycott of Ukrainian grain exports, Schulze has been keen to show That G-7 also Can move Before on Pre-war priorities.
members of the group of Seven major economies on Tuesday pledged to create new ‘climate club” for The countries that want Takes more Ambitious work to tackle it global Heating.
The move, sponsored by Scholz, you will see countries who – which join The club agree on tougher measures for reduce greenhouse gas emissions with the aim of save global temperatures from rising more From 1.5°C (2.7°F) this century comparison with pre-industrial times.
Countries that are part of The club He will try to coordinate their measures in like this way It is comparable and avoid Members who impose climate-related tariffs on each other’s imports.
finally speaking of The three-day summit in Elmau, Germany, Schulz said the goal was “ensure Climate protection is a competitive advantage, not a disadvantage.”
He said the details of Planned Climate club This will be finished year.