Biden urges G7 to stay together as leaders target Russian gold, oil price

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SCHLOSS ELMAU, Germany: US President Joe Biden told allies 'we have to stay together' against Russia on Sunday (Jun 26) as G7 leaders gathered for a summit dominated by war in Ukraine and its impact on

G7 host German Chancellor Olaf Scholz invited Senegal, Argentina, Indonesia, India and South Africa as partner nations at the summit. Many countries of the global south are concerned about the collateral damage from Western sanctions on Russia.

They want G7 leaders to tax excessive corporate profits to help those hit by the food crisis, cancel debts of the poorest nations and to support developing countries in their battle against the food crisis and climate change. Officials from some G7 countries, including Germany and Britain, are pushing for temporary waivers on biofuels mandates to combat soaring food prices, according to sources familiar with the matter.

"Putin has been counting on it from the beginning that somehow the NATO and the G7 would splinter. But we haven't and we're not going to," Biden said.The summit provides an opportunity for Scholz to demonstrate more assertive leadership on the Ukraine crisis.

 

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