Page 2 - G7

Oil price cap looks set to keep Russian oil flowing even as war continues

Lavrov said the cap was irrelevant, the strongest hint yet of a possible softening. With such a generous cap, buyers and sellers can easily claim it's just business as usual

EU agrees on $60 per barrel price cap on Russian oil, say reports

Restrictions an attempt to squeeze Kremlin's crude oil revenues

Proposed G7 oil price cap to have little immediate impact on Russia

G7's proposed price cap of $65-$70 a barrel on Russian oil would have little immediate impact on Moscow's revenues

Indian refiners wary of buying Russian oil after Dec 5 as EU sanctions loom

The Asian giants, who are two of the world's top three importers, had become Russia's biggest customers after the West shunned Russian oil after the outbreak of war in Ukraine

'Era not of war': G20 declaration uses Modi's words in call for diplomacy

Summit leaders deplore deplored Russia's war in Ukraine 'in the strongest terms'

Leaders of NATO, G7 offer 'full support' to Poland's probe into explosion

The leaders affirmed readiness to hold Russia accountable for its "brazen attacks" on the Ukrainian communities.

Biden calls emergency meeting of G7, NATO leaders after missile hits Poland

President Joe Biden called an "emergency" meeting of G7 and NATO leaders in Indonesia on Wednesday morning for consultations after NATO-ally Poland said a "Russian-made" missile killed two people in the eastern part of its country near the Ukraine border. Biden, who was awakened overnight by staff with the news of the missile explosion, called Polish President Andrzej Duda early on Wednesday to express his "deep condolences" for the loss of lives. The US president promised "full US support for and assistance with Poland's investigation", and "reaffirmed the United States' ironclad commitment to NATO". A statement from the Polish Foreign Ministry identified the missile as being made in Russia. But Poland's president, Duda, was more cautious about its origin, saying that officials did not know for sure who fired it or where it was made. He said it was "most probably" Russian-made, but that is being still verified. If confirmed, it would be the first time since the invasion of Ukraine .

Buying oil from Russia is to India's advantage, says S Jaishankar

Says India's obligation is to ensure consumers get best access on 'most advantageous' terms

G7 ministers seek to expand unity on Ukraine war, China's economic clout

Top diplomats from the world's major industrialized democracies sought on Thursday to expand unified positions on Russia's war in Ukraine, China's growing global economic clout and Iran's crackdown on anti-government protestors. Foreign ministers from the Group of Seven nations began two days of talks in the historic western German city of Muenster to take stock of the war in Ukraine and keep up economic, military and other support for the country more than eight months after Russia's invasion and as winter approaches. The significance of the venue the same room in which the Treaty of Westphalia ending Europe's bloody 30 Years War was signed in 1648 was not lost on the participants, some of whom commented on the relevance of the principles it enshrined in international diplomacy. US Secretary of State Antony Blinken made reference to the 374-year-old document at an event with German Foreign Minister Annalena Baerbock, saying Russia's actions in Ukraine are a direct attack on the .

G7 ministers meet with Russia-Ukraine conflict, China ties on agenda

Top diplomats from the world's major industrialised democracies grappled with the implications of Russia's war in Ukraine, China's growing economic clout and aims on Taiwan, and Iran's crackdown on anti-government protesters as they opened two days of talks on Thursday. Meeting in the western German city of Muenster, foreign ministers from the Group of Seven nations were taking stock of the situation in Ukraine more than eight months since Russia invaded the country, exacerbating food and energy shortages and creating ripple effects far from Europe. While we are steadfast in our support for Ukraine, we must not forget that the impacts of Russia's aggression, interference and hostility extend across the world," British Foreign Secretary James Cleverly said ahead of the meeting. Russian President Vladimir Putin's actions are plunging the world's poorest further into despair, putting global food security on the brink and pushing up energy prices", he said. "These actions only serve to

G7 foreign ministers set to grapple with Russia-Ukraine war, Chinese clout

Top diplomats from the world's major industrialised democracies will grapple with the implications of Russia's war in Ukraine, China's growing economic clout, and aims on Taiwan and Iran's treatment of anti-government protesters when they open two days of talks in Germany this week. Meeting in the western German city of Munster, foreign ministers from the Group of Seven nations Britain, Canada, France, Germany, Italy, Japan and the United States will take stock of the situation in Ukraine nearly a year after they first banded together to warn Russia of massive consequences if it went ahead with plans to invade the former Soviet republic that some believed were exaggerated at the time. Since that warning was delivered two months before the invasion was actually launched the G-7 nations have largely followed through with their vow to punish Russia, although the sanctions have done little to deter Moscow, which has instead escalated its attacks targeting civilian infrastructure, sen

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