Elmau: President Joe Biden Praised the continued unity of the Clash of the Global Alliance on Sunday RussiaAs he and other heads of the Group of Seven major economies strategize to maintain pressure in their attempt to isolate Moscow over the months-long invasion of Ukraine.
Biden and his counterparts were meeting to discuss how to secure energy supplies and tackle inflation, aimed at keeping the global coalition working to punish Moscow away from war. They were set to announce new sanctions on Russian gold imports, the latest in a series of sanctions the Club of Democracies hope will isolate Russia financially over its invasion of Ukraine.
The leaders were also coming together in a new global infrastructure partnership to provide an alternative to Russian and Chinese investments in the developing world.
“We have to make sure we all stay together,” Biden Said during a pre-summit meeting with the German Chancellor Olaf Scholzo, which presides over the rotating G-7 and is hosting the meeting. “You know, we’re going to continue to work on the economic challenges that we face, but I think we overcome them all.”
Scholz replied that the “good message” is that “we all made it to stay united, who”. Putin never expected,” a reference to the Russian President Vladimir Putinwho sent his army across the border to Ukraine at the end of February.
“We have to be together, because Putin has been trusting from the start, that somehow NATO and the G-7 will fall apart, but we are not and we are not going to,” Biden responded, as he and Scholz sat on the terrace overlooking the picturesque Bavarian Alps.
“We can’t let this aggression take that form and get away with it,” Biden said.
Kyiv Mayor Vitaly Klitschko said that hours before the summit formally opened, Russia launched missile strikes against the Ukrainian capital on Sunday, attacking at least two residential buildings. These were the first such attacks by Russia in three weeks.
Biden condemned Russia’s actions, describing it as “their greater barbarism”.
Other leaders praised Biden for the unity of the coalition.
The head of the EU’s Council of Governments said the 27-member bloc maintains “unbreakable unity” in supporting Ukraine against Russia’s aggression with money and political support, but that “Ukraine needs more and we have more Committed to providing more.”
European Council President Charles Michel called on EU governments to supply Ukraine with “more military aid, more financial means and more political support” to defend itself and “curb Russia’s ability to wage war”. are ready.
The European Union has imposed six rounds of sanctions against Russia, the latest being a ban on 90% of Russian crude imports until the end of the year. The measure is aimed at a pillar of the Kremlin’s finances, its oil and gas revenues.
Biden and the leaders of Britain, Canada, France, Germany, Italy and Japan as well as the European Union were spending Sunday in both formal and informal working sessions on the effects of war on the global economy, including inflation and infrastructure .
Biden, who arrived in Germany early on Sunday, said that the G-7 countries, including the US, would ban the import of gold from Russia. A formal announcement was expected on Tuesday as the leaders held their annual summit.
Senior Biden administration officials said gold is Moscow’s second biggest export after energy, and banning such imports would make it more difficult for Russia to participate in global markets. Officials spoke on condition of anonymity to discuss details before the announcement.
British Prime Minister Boris Johnson said the sanctions would “directly affect Russian oligarchs and hit the heart of Putin’s war machine.”
“Putin is wasting his dwindling resources on this pointless and barbaric war. He is controlling his ego at the expense of both the Ukrainian and Russian people,” Johnson said. “We have to starve the Putin regime for its funding. Is required.”
Gold, in recent years, has been the top Russian export after energy – reaching about $19 billion in 2020, or about 5% of global gold exports. white House,
Of Russian gold exports, 90% were sent to G-7 countries. More than 90% of those exports, or about $17 billion, were exported to the UK. The United States imported less than $200 million from Russia in 2019 and less than $1 million in 2020 and 2021.
Issues to be discussed include price caps on energy, which are meant to limit Russian oil and gas profits that Moscow can pump into its war efforts. The idea has been endorsed by US Treasury Secretary Janet Yellen.
Michel said that discussions are underway on the price cap on Russian oil imports. But he said, “we want to go into details, we want to fix … to make sure we have a clear understanding of what the direct effects are” if such a move were to be taken by the group.
The leaders were also set to discuss how to maintain commitments to address climate change while addressing critical energy supply needs brought on by the war.
“There is no shortage of climate commitments,” John Kirby, spokesman for Biden’s National Security Council, said Saturday as the president flew to Germany.
Biden is also set to formally launch a global infrastructure partnership designed to counter China’s influence in developing countries. He named it “Build Back a Better World” and introduced the program at last year’s G-7 summit.
Biden and other leaders will announce the first projects, Kirby said, that the US sees as “an alternative to infrastructure models that sell debt traps to low- and middle-income partner countries.” economic competition and our national security,” he said.
After the G-7 summit ends on Tuesday, Biden will travel to Madrid for a summit of leaders of 30 NATO members to align strategy on the war in Ukraine.
Biden and his counterparts were meeting to discuss how to secure energy supplies and tackle inflation, aimed at keeping the global coalition working to punish Moscow away from war. They were set to announce new sanctions on Russian gold imports, the latest in a series of sanctions the Club of Democracies hope will isolate Russia financially over its invasion of Ukraine.
The leaders were also coming together in a new global infrastructure partnership to provide an alternative to Russian and Chinese investments in the developing world.
“We have to make sure we all stay together,” Biden Said during a pre-summit meeting with the German Chancellor Olaf Scholzo, which presides over the rotating G-7 and is hosting the meeting. “You know, we’re going to continue to work on the economic challenges that we face, but I think we overcome them all.”
Scholz replied that the “good message” is that “we all made it to stay united, who”. Putin never expected,” a reference to the Russian President Vladimir Putinwho sent his army across the border to Ukraine at the end of February.
“We have to be together, because Putin has been trusting from the start, that somehow NATO and the G-7 will fall apart, but we are not and we are not going to,” Biden responded, as he and Scholz sat on the terrace overlooking the picturesque Bavarian Alps.
“We can’t let this aggression take that form and get away with it,” Biden said.
Kyiv Mayor Vitaly Klitschko said that hours before the summit formally opened, Russia launched missile strikes against the Ukrainian capital on Sunday, attacking at least two residential buildings. These were the first such attacks by Russia in three weeks.
Biden condemned Russia’s actions, describing it as “their greater barbarism”.
Other leaders praised Biden for the unity of the coalition.
The head of the EU’s Council of Governments said the 27-member bloc maintains “unbreakable unity” in supporting Ukraine against Russia’s aggression with money and political support, but that “Ukraine needs more and we have more Committed to providing more.”
European Council President Charles Michel called on EU governments to supply Ukraine with “more military aid, more financial means and more political support” to defend itself and “curb Russia’s ability to wage war”. are ready.
The European Union has imposed six rounds of sanctions against Russia, the latest being a ban on 90% of Russian crude imports until the end of the year. The measure is aimed at a pillar of the Kremlin’s finances, its oil and gas revenues.
Biden and the leaders of Britain, Canada, France, Germany, Italy and Japan as well as the European Union were spending Sunday in both formal and informal working sessions on the effects of war on the global economy, including inflation and infrastructure .
Biden, who arrived in Germany early on Sunday, said that the G-7 countries, including the US, would ban the import of gold from Russia. A formal announcement was expected on Tuesday as the leaders held their annual summit.
Senior Biden administration officials said gold is Moscow’s second biggest export after energy, and banning such imports would make it more difficult for Russia to participate in global markets. Officials spoke on condition of anonymity to discuss details before the announcement.
British Prime Minister Boris Johnson said the sanctions would “directly affect Russian oligarchs and hit the heart of Putin’s war machine.”
“Putin is wasting his dwindling resources on this pointless and barbaric war. He is controlling his ego at the expense of both the Ukrainian and Russian people,” Johnson said. “We have to starve the Putin regime for its funding. Is required.”
Gold, in recent years, has been the top Russian export after energy – reaching about $19 billion in 2020, or about 5% of global gold exports. white House,
Of Russian gold exports, 90% were sent to G-7 countries. More than 90% of those exports, or about $17 billion, were exported to the UK. The United States imported less than $200 million from Russia in 2019 and less than $1 million in 2020 and 2021.
Issues to be discussed include price caps on energy, which are meant to limit Russian oil and gas profits that Moscow can pump into its war efforts. The idea has been endorsed by US Treasury Secretary Janet Yellen.
Michel said that discussions are underway on the price cap on Russian oil imports. But he said, “we want to go into details, we want to fix … to make sure we have a clear understanding of what the direct effects are” if such a move were to be taken by the group.
The leaders were also set to discuss how to maintain commitments to address climate change while addressing critical energy supply needs brought on by the war.
“There is no shortage of climate commitments,” John Kirby, spokesman for Biden’s National Security Council, said Saturday as the president flew to Germany.
Biden is also set to formally launch a global infrastructure partnership designed to counter China’s influence in developing countries. He named it “Build Back a Better World” and introduced the program at last year’s G-7 summit.
Biden and other leaders will announce the first projects, Kirby said, that the US sees as “an alternative to infrastructure models that sell debt traps to low- and middle-income partner countries.” economic competition and our national security,” he said.
After the G-7 summit ends on Tuesday, Biden will travel to Madrid for a summit of leaders of 30 NATO members to align strategy on the war in Ukraine.