The group of the seven largest economies in the world (G7) meets this Sunday (27) for a three-day summit in Schloss Elmau, in the mountains of Bavaria, Germany.
On the table will be the debate on increasing pressure on the Russia and the consequences of the war against Ukraine which caused food and energy shortages around the world during the five months of the conflict.
The G7 is made up of the United States, Germany, France, the United Kingdom, Italy, Canada and Japan. The leaders of these countries face the threat of global recession and domestic crises in their respective countries due to rising prices of gas, food and other consumer staples.
The economic deterioration has led to new talks and some rifts between allies on how to end the war in Ukraine. The Ukrainian President, Volodymyr Zelensky, should call for more sanctions and more military assistance when he appears virtually at the event.
US officials said the president Joe Biden plans to reveal their next steps alongside other leaders to increase pressure on Russia, though they declined to say what they would look like.
At the same time, Biden expects the group to discuss measures to stabilize energy markets, an issue that a US government official said. to CNN that would be at the center of discussions at the castle in the Bavarian Alps, where the G7 meets.
Gold import ban
Biden and G7 leaders agreed to announce a ban on gold imports from Russia, a source told CNN. Gold is Russia’s second largest export after energy.
The Treasury Department is expected to issue a ruling on Tuesday (28) to ban the import of gold into the US, which, according to the source heard by CNN, would further isolate Russia from the global economy, preventing its participation in the gold market. gold.
climate commitments
G7 leaders are also expected to discuss the creation of a “climate group” to better coordinate carbon prices and other measures and actions to reduce gas emissions.
The climate commitment is increasingly challenged by attempts to reduce Europe’s dependence on Russian natural gas, as well as ease gasoline prices.
After the EU touted an accelerated clean energy transition in response to Russia’s invasion of Ukraine, some European countries, notably Germany and the UK, are turning to coal to replace lost gas. And Germany is also looking to Africa for a new supply of gas.
“Germany is starting to pull back and Chancellor Scholz is thinking about making a new agreement with Senegal on gas supplies. This is a worrying sign for the G7 unit in May to move away from fossil fuels,” said Alex Scott, leader of the climate and geopolitical diplomacy program at the global climate think tank E3G, to CNN .
Scott also said he is looking for concrete commitments with the US on phasing out coal, something he has struggled to do in past climate talks. “It’s time for the US to really put a new policy on the table,” he said.
“That means clarifying when and how the US will end its obsession with coal. The change in government, the wave of climate ambition and the target-setting it brought have now expired,” he added.
Demonstrations against the G7 in Germany
Nearly 20,000 police were sent to ensure security at the summit. On Saturday (25), around 4,000 people marched in Munich, urging the leaders of the group of seven industrialized countries to take action to combat poverty, climate change and hunger in the world, as well as end dependence on Russian fossil fuels. .
Protesters carried banners saying “Stop the war, Russia” and “Imperialism starts here”, and demanded that the G7 allocate more funds to crisis prevention, civil conflict management and economic development.
“Today, we are at the G7 again because we realized that nothing has improved, we are destroying ourselves,” said Lisa Munz, a protester wearing a hat topped with a stuffed chicken.
The protest was sponsored by over 15 organizations including WWF Germany, Oxfam Deutschland, Greenpeace and Bread for the World.
“The demonstration is a clear sign of how strong the desire of many people is for a fundamentally different policy in the G7 countries,” Oxfam Deutschland said in a statement.
*From CNN’s Kevin Liptak and Ella Nilsen and Reuters’ Riham Alkousaa and David Holmes)
Source: CNN Brasil
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