The Group of Seven (G7) is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. In addition, the European Union is a ’non-enumerated member’. Its members are the world’s largest IMF advanced economies and liberal democracies; the group is officially organized around shared values of pluralism and representative government. As of 2020, the collective group accounts for over 50 percent of global net wealth (which is $418 trillion), 32 to 46 percent of global gross domestic product,[n 1] and approximately 770 million people or 10 percent of the world’s population. Members are great powers in global affairs and maintain mutually close political, economic, social, legal, environmental, military, religious, cultural, and diplomatic relations. From 2022, Germany has taken over the rotating presidency of the G7, following the presidency of the United Kingdom.
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Energy War against Russia: why India and China are the Real Winners
1 Marzo 2023 - 16:59
The oil price cap imposed by the G7 on Russia is not working. India and China are the real winners of the energy war.
UK will fall into Recession in 2023 despite GDP Growth. Here’s why
10 Febbraio 2023 - 11:40
The Bank of England keeps rising interest rates to fight inflation. Unfortunately for the United Kingdom, their economy cannot afford them.
Putin bans Oil Sales to G7 countries, a Double-edge Sword?
27 Dicembre 2022 - 19:41
With a presidential decree on Tuesday, Vladimir Putin banned oil exports to countries that implement the price cap. Will it have any real effect?
G7 and Australia on board with Price Cap on Russian Oil. Next step: Natural Gas
3 Dicembre 2022 - 15:57
Now that everyone is settled with a price cap on Russian oil, world leaders started discussing a similar measure for gas.b
No Agreement found on Price Cap on Russian oil. EU, G7 negotiations will Continue
24 Novembre 2022 - 17:14
The controversial price cap on Russian oil has finally arrived. All G7 and EU countries on board, but will it serve any real purpose?
China to Pause Russian Oil imports. Russia in dire straits after G7 Price Cap
22 Novembre 2022 - 15:00
China decided to pause Russian oil imports and see who has the best offer. Russia could definitely lose their revenue streams.
G7 oil price cap won’t help the West nor hurt Russia, here’s why
4 Novembre 2022 - 13:43
After a month-long debate, the G7 nations found a compromise to implement a price cap on Russian oil. As most compromises, however, it might serve no purpose at all.