President Joe Biden and Western allies kicked off a three-day summit in the Bavarian Alps on Sunday to prevent the economic fallout from the Ukraine conflict from fracturing the international coalition working to punish Russia’s aggression.
Boris Johnson of the United Kingdom cautioned the leaders against succumbing to “fatigue” as Russia launched further missiles at Kyiv.
The Group of Seven leaders were expected to announce new restrictions on Russian gold imports, the latest in a series of sanctions the club of democracies hopes will further isolate Russia economically.
They were also considering possible energy price ceilings that would restrict the amount of oil and gas profits that Russia can pump into its military effort.
And following through on a proposal from last year’s G-7 summit, Biden formally launched a global infrastructure partnership intended to counter China’s influence in developing nations.
The initiative aims to leverage $600 billion with other G-7 nations for global infrastructure projects by 2027. Biden stated that the United States would contribute roughly $200 billion.
U.S. officials have long argued that China’s infrastructure initiative traps receiving nations in debt and that the investments primarily benefit China.
According to Kyiv Mayor Vitali Klitschko, Russia launched its first missile strikes against the Ukrainian capital in three weeks as a pre-summit show of force, striking at least two residential buildings.
Biden denounced Russia’s actions as “more of their barbarism” and emphasised that allies must remain steadfast even as the war’s economic repercussions take a toll on the global economy in the form of inflation, food shortages, etc.
Putin has always counted on NATO and the G-7 to fracture, but we haven’t and we won’t, said Vice President Joe Biden during a meeting with German Chancellor Olaf Scholz, who holds the G-7’s rotating presidency and is hosting the summit
Politics.
As the G-7 leaders sat down for their opening session, they made a playful jab at Vladimir Putin. Johnson was overheard asking if he should keep his jacket on and stating, “We must all demonstrate that we are tougher than Putin.” Prime Minister of Canada Justin Trudeau added, “A horseback ride without a shirt.”
Throughout the years, the Kremlin has released several shirtless photographs of the Russian leader.
Biden and his counterparts used the meeting to discuss how to secure energy supplies and combat inflation caused by the aftermath of the war.
The leaders also convened to discuss the new global infrastructure partnership, which aims to provide an alternative to Russian and Chinese investment in developing nations. Without mentioning China by name, the leaders took turns speaking about the partnership and their respective roles in it.
Ukraine cast a shadow over the gathering, but the leaders were determined to project determination.
Scholz reported to Biden that the allies had managed to “Putin did not expect the United States to remain united.
Biden stated of Putin’s war, “We cannot allow it to continue in its current form and get away with it.”
Scholz, who has been criticised at home and abroad for his perceived reluctance to send Ukraine heavy weapons, stated, “Germany and the U.S. will always act together when it comes to the security of Ukraine.”
Johnson, for his part, urged other leaders to avoid succumbing to “fatigue.” As the four-month-old conflict drags on, he is concerned that divisions within the pro-Ukraine alliance may emerge.
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When asked if he believed France and Germany were doing enough, Johnson lauded the “huge strides” made by Germany to arm Ukraine and reduce Russian gas imports. No mention of France was made.
During their pre-summit meeting, Biden and Scholz agreed on the need for a negotiated end to the Ukraine conflict but did not discuss the specifics of how to achieve this goal, according to a senior Biden administration official who requested anonymity to discuss a private discussion.
However, they did not engage in a lengthy discussion about oil price caps or inflation, according to the official.
Biden’s praise for coalition unity was echoed by other leaders.
