At the G7 summit in Elmau, southern Germany, the seven major countries will urgently ask relevant ministers to consider how to cap the prices of Russian crude oil and gas in order to reduce the flow of income to the Putin administration. Agreed on. It’s still unclear how this works specifically.
G7 leaders announced on the 28th after the summit closedstatement“Reaffirming our commitment to gradually reducing our dependence on Russian energy,” he said, “searching for additional measures to prevent Russia from benefiting from the war of aggression.”
Russia is using the money it gets from energy exports to fund the invasion of Ukraine, and the G7 move is part of an effort to block the flow of such money. At the summit, the Russian war was the main agenda, and indefinite support for the Ukrainian government was announced.
Leaders of each country entering talks on the final day of the G7 Summit (Germany Elmau, June 28)
Photographer: Liesa Johannssen-Koppitz / Bloomberg
G7 leaders accused Putin of the war he had begun in Ukraine as an “unjustifiable, one-sided and illegal war,” and called on China to work to end the war.
G7 leaders agree to instruct ministers to rush to discuss how Russian oil and gas prices can be curtailed to reduce Russian government revenues
Source: Bloomberg
The G7 leaders also agreed to establish a “Climate Club” by the end of the year to aim for common rules and standards for global warming countermeasures. It was a great achievement for German Chancellor Olaf Scholz, whose main theme was to improve cooperation in environmental protection as the G7 presidency.
Prime Minister Fumio Kishida strengthened relations with NATO and for freedom and democracy by European and Indo-Pacific countries prior to attending the upcoming North Atlantic Treaty Organization (NATO) Summit for the first time as Japan’s Prime Minister. Said he wanted to build a partnership with. He spoke at a press conference in Munich before heading to Madrid, the capital of Spain, where the NATO summit will be held.
Original title:G-7 Latest: Leaders Promote Idea of Price Caps on Russian Energy(excerpt)