Page 9 - G7

Wars aren't won with peacetime economies

Wars inevitably cause shortages and generate windfall gains for some at the expense of others

India unlikely to join G7 push to cap Russian oil prices to counter Putin

The move to cap prices of Russian oil comes amid efforts to reduce Russia's revenue to counter its advances in Ukraine war, with minimum impact on global energy crisis

UN, G7 decry Russian attack in Ukrainian cities as possible war crime

Russian forces showered Ukraine with more missiles and munition-carrying drones Tuesday after widespread strikes killed at least 19 people in an attack the UN human rights office described as particularly shocking and amounting to potential war crimes. Air raid warnings sounded throughout the country for a second straight morning as Ukrainian officials advised residents to conserve energy and stock up on water. Strikes in the capital and 12 other regions Monday caused power outages and pierced the relative calm that had returned to Kyiv and many other cities far from the war's front lines. It brings anger, not fear, Kyiv resident Volodymyr Vasylenko, 67, said as crews worked to restore traffic lights and clear debris from the city's streets. We already got used to this. And we will keep fighting. The leaders of the Group of Seven industrial powers condemned the bombardment and said they would stand firmly with Ukraine for as long as it takes. Their pledge defied Russian warnings tha

G7 counters China's Belt and Road Initiative to curb its global influence

China tried to project itself as a helping hand to developing countries in the case of economic development through its Belt and Road Initiative but only just to lure them into their debt trap

G7 nations to take tougher stance on trade with China: German official

The Group of Seven major economies have agreed to take a tougher, more coordinated stance toward China when it comes to trade, Germany's economy minister said Thursday. After a two-day meeting with fellow G-7 officials, Minister for Economic Affairs and Climate Protection Robert Habeck told reporters that discussions about China were part of an effort to ensure high international trade standards and to prevent Beijing from using its economic might to steamroll other nations. The naivety toward China is over, Habeck said, referring to Germany's own position on China. The time when one said Trade, no matter what,' regardless of the social or humanitarian standards, ... is something we shouldn't allow ourselves anymore. He said Germany would work to persuade the European Union to establish a more robust trade policy toward China and respond as Europeans to the coercive measures that China takes to protect its economy. The other partner countries will do exactly the same, Habeck said,

Top Headlines: Gyanvapi verdict today, Russia's discounted oil, and more

In a bid to counter the growing clamour among the G7 nations to enforce a price cap on Russian oil, Moscow told New Delhi it is willing to provide petroleum at even lower rates than before to India

Rs 500 cr insurance pool helps India withstand G7 cap on Russian oil

Pool has already insured over 25 voyages, since it was formed in June under national reinsurer GIC Re, says top official

Countering G7 price cap proposal, Russia offers discounted oil to India

The discounts are expected to be substantial and lower than those offered by Iraq in recent months. The third largest oil importer India has been approached by the G7 nations to support the price cap

Putin says Russia to stop supplying energy if Western price caps imposed

Speaking at an economic forum in Vladivostok, Putin said European calls for a price cap on Russian gas were 'stupid', and would lead to higher global prices and economic problems in Europe

Russia blames Europe for gas crisis, warns West of oil retaliation

Europe to blame for Nord Stream 1 shutdown, says Kermlin and warns of retaliation over G7 oil price cap; European gas prices rocket 30%, shares fall

G7 to impose price cap on Russia oil: US Treasury Secy Janet Yellen

By committing to finalising and implementing a price cap, the G7 will significantly reduce Russia's main source of funding for the war in Ukraine

US says it is determined to enforce G7 countries' price cap on Russian oil

The United States has said it is determined to enforce a price cap on Russian oil announced by the G7 countries. "A price cap on Russia oil is a powerful tool -- one part of the tool in our agenda to put downward pressure on global energy prices in a way that will benefit consumers in the US and globally," White House Press Secretary Karen Jean-Pierre told reporters during her daily news conference here Friday. "And we are determined to implement this policy in a way that achieves those goals," she said. Earlier in the day, G7 finance ministers announced a cap on the price of Russian oil, which they said would put pressure on global energy prices while denying Putin revenue to fund his brutal war in Ukraine. As per the announcement, the G7 countries, along with other allies and partners, plan to prohibit the provision of services that enable maritime transportation of such oil and products unless purchased at or below a price level determined by the coalition of countries adhering

G7 finance ministers agree to impose price cap on Russian oil

The ministers from the club of wealthy industrial democracies confirmed their commitment to the plan after a virtual meeting

G-7 set to back plan to cap Russian oil price to ease market pressure

Once the G-7 support is official, diplomats will have to convince European Union member nations to amend its sixth round of sanctions on Russia over the invasion of Ukraine

G7 set to discuss cap on price of Russian oil in bid to ease prices

The European Union, UK and Switzerland all plan to ban their companies from providing those services for Russian oil shipments beginning in December

Risk of accident: G7 demands Russian withdrawal from Ukraine's nuke plant

The Group of Seven (G7) nations on Wednesday asked Russia to vacate Zaporizhzhya nuclear power plant in Ukraine citing a risk of a dangerous nuclear accident

China imposes sanctions on Nancy Pelosi, family after Taiwan visit

"It gravely undermines China's sovereignty and territorial integrity, seriously tramples on the one-China principle, and severely threatens peace and stability across the Taiwan Strait."

G7 commits to boost India's clean energy transition in collaboration

They have committed to achieving a fully or predominantly decarbonised electricity sector by 2035, recognising that emissions from coal power generation is the single biggest cause of global warming

G7 discussions with China, India on Russian oil price cap positive: Report

Group of Seven democracies have had positive and productive discussions with China and India about a plan to cap the price of Russian oil, a source familiar with the G7 discussions said

What G7 leaders agreed on: Russia sanctions, energy and food security

Explore measures to reduce price surges and prevent further impact on economies