Thursday, November 24 2022
The conflict was at the center of the Group of 7 summit being held in a century-old mountainside castle in the Bavaria region of Germany. Leaders agreed on new measures to insulate the Russian economy, including a ban on further imports of Russian gold, and are discussing ways to further limit Moscow’s energy profits by capping the price of Russian oil.

The United States is expected to announce as early as this week that it has purchased a new advanced medium- and long-range missile defense system that Ukraine has requested, along with new shipments of munitions and radar systems, as it works to boost the war away from Russia, which has made small gains in the East.

Ukraine had asked the system to help it continue its fight against Russia. In a brief preview of the leaders’ meeting with Zelensky, the Ukrainian president could be seen on a screen set up in the conference room as the leaders took their seats.

G7 leaders also plan to announce a long series of new sanctions, including against Russian defense supply chains, Russians responsible for human rights abuses and war crimes, private military companies and new visa restrictions for 500 civil servants. The United States will also announce $7.5 billion in new funding for Ukraine, as part of a broader commitment by G7 countries to help the country close its budget shortfalls.

“Here at this G7 meeting, as well as at NATO, we will continue to do, collectively, everything we can to ensure that the Ukrainians have what they need in their hands to repel Russian aggression. “said the US Secretary of State. Antony Blinken said in an exclusive interview with CNN’s “State of the Union” on Sunday.

Other important topics are on the agenda, including a renewed effort to counter Chinese investment in developing world infrastructure that has extended Beijing’s influence across the globe.

But how much longer the western front will be able to remain united against Russia is the question hanging over these talks. Rising energy costs, fears of global food shortages and the certain inevitability that war fatigue will set in have made discussions about what to do next in the conflict urgent.

Meeting his host, German Chancellor Olaf Scholz, on Sunday, Biden sought to stress the importance of sticking together.

“Putin counted, from the beginning, on the fact that NATO and the G7 would separate somehow,” he said. “But we haven’t, and we’re not going to.”

Zelensky, who also plans to speak at the NATO summit this week in Madrid, has pressured the West to step up sanctions on Moscow and heavy artillery to repel Russian invaders.

His pleas will become more urgent after Sunday’s missile strikes at two residential buildings in Kyiv, the Ukrainian capital which had enjoyed relative calm in recent weeks as the fighting moved east. Biden called the attack “barbaric.”

Still, it remains to be seen how far leaders will be willing to go to apply further sanctions against Russia. High oil prices mean Russia earns more revenue from its energy exports, despite bans in Europe and the United States.

Western leaders meeting at the G7 have decided to try to cap the price of Russian oil, officials say, the final step in punishing Moscow while trying to mitigate the economic effects of the war in Ukraine. It remains to be seen how, when and to what extent the price of Russian oil will be capped. Officials said the precise mechanism for hitting the cap was still being worked out.

It remains to be seen how, when and to what extent the price of Russian oil will be capped. Officials said the precise mechanism for hitting the cap was still being worked out.

But leaders will ask their teams to work urgently to find a way to limit the price at which Russia can sell its oil, depriving Moscow of a key source of revenue.

“The goal here is to starve Russia, starve Putin of his main source of money and drive down the price of Russian oil to help mitigate the impact of Putin’s war at the pumps,” he said. said a senior US administration official.

While oil prices have skyrocketed, Russia’s oil revenues are actually on the rise, despite global import bans. The leaders want to use their collective leverage to reduce the revenue Russia receives from countries that still buy its oil.

How exactly this is done remains to be seen, although the official suggested that G7 countries have leverage through oil transport networks that could help enforce the cap.

High gasoline prices for American and European consumers are putting pressure on leaders to find ways to ease the pain.

Speaking to CNN’s Jake Tapper on ‘State of the Union’ hours after Russian missiles hit Kyiv, British Prime Minister Boris Johnson urged Americans, Britons and others in the West to maintain their determination to punish Moscow, despite the effect the war had on the world. Oil prices.

“I would just say to people in the United States that this is something that America does and historically has to do, and that is to stand up for peace, freedom and democracy,” Johnson said. “And if we let Putin get away with it, and just annex, conquer significant parts of a free, independent, sovereign country, which he is about to do…then the consequences for the world are absolutely catastrophic. “

Putin, whose country was ejected from the then G8 in 2014 after Russia annexed the Ukrainian territory of Crimea, was lightly teased as the leaders sat down for a working lunch on Sunday .

Johnson, the latest leader to arrive at the roundtable, asked if he should keep his suit jacket on.

“Jackets? he asked, before joking about how the leaders had to look tough in their discussions.

“We have to show that we are tougher than Putin,” he said.

Canadian Prime Minister Justin Trudeau made a suggestion: “Horseback shirtless,” he said, as the leaders laughed.


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