G7 summit kicks off under shadow of Ukraine war, stagflation risk

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SCHLOSS ELMAU, Germany: German Chancellor Olaf Scholz welcomes leaders of the Group of Seven rich democracies on Sunday to a three-day summit in the Bavarian Alps overshadowed by the war in Ukraine and its far-reaching consequences, from energy shortages to a food crisis. The summit takes place against a d

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SCHLOSS ELMAU, Germany: German Chancellor Olaf Scholz welcomes leaders of the Group of Seven rich democracies on Sunday to a three-day summit in the Bavarian Alps overshadowed by the war in Ukraine and its far-reaching consequences, from energy shortages to a food crisis.

The G7 leaders are expected to seek to show a united front on supporting Ukraine for as long as necessary and cranking up pressure on the Kremlin - although they will want to avoid sanctions that could stoke inflation and exacerbate the cost-of-living crisis affecting their own people. The G7 leaders are also expected to discuss options for tackling rising energy prices and replacing Russian oil and gas imports.

The chancellor vowed a revolution in German foreign and defence policy after Russia's invasion in February, promising to bolster the military with a 100 billion euro fund and send weapons to Ukraine.

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