The G7 of the major economic powers will seek to reinforce from Sunday in Germany the support for Ukraine against Russia and to respond to the skyrocketing of prices and the threats of famines caused by the war.
In their three days of meetings in the Bavarian castle of Elmau, the leaders of the United States, Germany, Japan, France, the United Kingdom, Italy and Canada will address other challenges, such as the threat of recession in their own countries and the environmental crises caused by climate change.
In Munich, about 100 km from Elmau, thousands of protesters demanded on Saturday the fulfillment of commitments to curb global warming, in a context of strong pressure on the energy sector due to the reduction of Russian gas deliveries to countries of the European Union (EU).
The German head of government, Olaf Scholz, host of the summit, wanted to show confidence in its results: “We can make important decisions (…) if we act united and with determination,” he said.
– ‘Do not abandon Ukraine’ –
Scholz and his partners have become since the invasion of Ukraine on February 24 firefighters of all the geopolitical, economic and financial fires caused by the war.
Western countries have slapped Russia with rare harsh economic sanctions, seemingly undaunting Russian President Vladimir Putin, who is constantly upping the ante in a war with no end in sight.
British Prime Minister Boris Johnson called on his colleagues not to lower their arms.
“Ukraine can and will win. But it needs our support to do so. Now is not the time to abandon Ukraine,” he said, announcing a new 429 million pound ($525 million) aid package to Ukraine in passing. form of credit guarantees.
Ukrainian President Volodimir Zelensky will address the G7 leaders by videoconference on Monday, urging them to maintain support for his bomb-ravaged country.
White House National Security Council spokesman John Kirby said the summit would highlight Russia’s responsibility and increase the cost and consequences of the war for Putin and the Russian economy.
It will also try to minimize “as much as possible the increase in oil prices and the way in which [Putin] He’s using energy as a weapon.”
The economic impacts of the conflict should be the focus of the opening session discussions.
Six months ago, the world economy seemed promised a strong recovery after the stoppage caused by the coronavirus pandemic, but now it is struggling to avoid a new recession.
Among the G7’s main concerns are “rising prices and the breakdown of supply chains, which have been exacerbated by this war in Ukraine,” Kirby said.
– China worries –
But beyond the current situation of tensions with Russia, Western countries are looking with concern at China, which is emerging as a systemic rival.
The leaders of the G7, who will meet again as of Tuesday in Madrid at a NATO summit, will seek answers to this challenge.
“The impact of China’s coercive economic practices, the use of forced labor, the theft of intellectual property, are central issues for the G7,” Kirby said.
To nurture alliances outside its area, the G7 invited the leaders of Argentina, India, Indonesia, Senegal and South Africa to its summit.
Argentina and Indonesia supported the votes against Russia at the UN, but the other guests abstained.
But everyone is worried about the threat of a hunger crisis caused by the blockade of Ukraine’s grain exports.
Faced with this risk, India has already restricted its own grain exports.
– Domestic concerns –
Some G7 leaders also face complicated internal political situations.
French President Emmanuel Macron was left politically weakened by the loss of an absolute majority in recent legislative elections.
And Boris Johnson’s Conservative Party suffered two setbacks in partial legislative elections and the image of the prime minister suffered a strong erosion due to a series of scandals, including the “Partygate”, of parties held in Downing Street in the midst of a pandemic.
Biden arrives as president of a country affected by soaring inflation and divided by the Supreme Court ruling that struck down the right to abortion in the federal framework.
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