Western leaders are expected to rally in the coming crucial G7 and then NATO summitsas the war in Ukraine continues, creating the risk of putting their unity to the test.
The leaders of the great powers, including the President of the United States, Joe Bidenhave been meeting since Sunday in the Bavarian Alps, for the annual meeting of the Group of Seven (G7) most developed industrialized countries, consisting of Germany, Canada, France, Italy, Japan, Britain and the USA.
Continued support to Ukrainefour months after the Russian invasion of the country, will be the focus of this summit and, subsequently, of its summit NATOwhich will be held for two days in Madrid from 28 June.
The Chancellor of Germany, Olaf Solts, hosting the G7 summit, recalled this week: Support for Ukraine will require “persistence” as “we are still far away” from holding talks between Kyiv and Moscow.
«Russia’s attack made the seven countries realize that they needed each otherObserves Stefan Meister, a researcher at the German research institute DGAP, much more that inflation or the threats to an energy or food crisis test the resistance of the international community.
The war in Ukraine could last “years”the NATO Secretary General also warned, Jens Stoltenberg.
The Alliance is “dusted”
Leaders will likely discuss Olaf Solz’s request this week for one “Marshall Plan” for the reconstruction of Ukraineone a long-term plan that will cost “billions” and involve “generations”.
The Ukrainian President, Volodymyr Zelensky, expected to ask for more weapons and pressures on Russia in a teleconference address Monday at the G7 summit at the Elmau Tower in the foothills of the Alps.
According to the APE-MPE, Zelenski will also address the summit of the 30 NATO member states, the last stage of an intense diplomatic activity, which started yesterday, Thursday, with the summit of EU leaders in Brussels, at which the Ukraine has been granted EU candidate status.
The Atlantic Alliance is expected to unveil plans to protect its eastern wing, which is close to Russia.
This defense reinforcement will be accompanied by a new “strategic concept” – the first revision of the alliance’s roadmap in 10 years – which is expected to harden its stance on Russia and mention for the first time the challenges posed by China.
THE exclusion by Turkey of the candidacies of Sweden and Finland overshadows the expected display of unity among the allies.
Regression for the climate?
In order to “maintain a stable course” towards Russia, there should be no retreat in terms of financial sanctions, nor the military and financial support in Kyiv, noted Solts, who, however, was criticized for the delay in the delivery of heavy weapons to Ukraine.
After several rounds of sanctions, “we are on the verge, especially in energy sanctions”, which have “high costs for the G7 and the global economy”, but Stefan Meister emphasizes.
Berlin accuses Moscow of significantly reducing gas supplies to trigger energy crisis in Europe before a winter heralded tense. At the same time, the spike in food prices is affecting many areas.
In this context, the participation in the G7 summit of Indonesia, India, Senegal, South Africa and Argentina sends an important message.
“It is crucial to convince many non-Western countries that are wary of sanctions that the West is addressing their concerns,” said Thorsten Brenner, director of the Global Public Policy Institute.
India, Senegal and South Africa abstained from voting on a UN resolution condemning Russia’s invasion of Ukraine.
These emerging economies are particularly vulnerable to food shortages and the climate crisis, two emergencies that are also on the list of large demonstrations scheduled for tomorrow, Saturday, in Munich at the request of international non-governmental organizations.
“I’m very concerned about a possible setback from the G7 ‘s commitment to end international funding for fossil fuels,” warns Christoph Bals, political director of Germanwatch.
The food, debt and climate crises “They have the same roots: our dependence on fossil fuels,” said Lawrence Toumpiana, one of the architects of the Paris Agreement, urging the G7 to “plan for their complete elimination.”
Source: News Beast
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
