Coalition leaders arrive in Germany to attend G7 summit On Sunday, German Chancellor Olaf Schultz welcomed the alliance leaders to the three-day summit in the Bavarian Alps.
This year’s G7 summit is being held in the context of the Ukraine war, its far-reaching consequences, energy shortages and the global food crisis. News Reuters.
This year’s conference is being held against a darker future than last year. However, British, Canadian, French, German, Italian, Japanese and US leaders pledged better returns at last year’s conference amid the Corona epidemic.
Note that global energy and food prices are hurting global economic growth in the wake of Russia’s aggression in Ukraine.
Meanwhile, the United Nations warned of an ‘unprecedented global hunger crisis’ last Friday.
At this year’s summit, the G7 leaders will discuss climate change, China’s growing power and the rise of authoritarianism.
The G7 leaders are also expected to discuss supporting Ukraine and increasing pressure on the Kremlin for as long as necessary. However, they would like to refrain from imposing sanctions on Russia, which could increase inflation and affect the cost of living in their country.
A source close to the matter told Reuters that the G7 partners were about to agree to a ban on gold imports from Russia. However, a German government source later said that the leaders were discussing “really constructive” the possible value of Russian oil imports.
The G8 leaders are also expected to discuss rising fuel prices and options for importing oil and gas from Russia.