Page 2 - G7

US officials expect G7 to warn small Chinese banks over Russia ties: Report

This year's G7 summit is also expected to focus on leveraging profits generated by Russian assets frozen in the West for Ukraine's benefit

G7 leaders call on Hamas to accept Israeli proposal to end war in Gaza

They further reaffirmed their support for peace leading to a two-state solution

Two-day G7 finance summit kicks off seeking unity on Ukraine, China

The G7 will also address a proposed global wealth tax on billionaires, promoted by Brazil and France among the broader Group of 20 developed countries

Global rate cuts: Slowing inflation primes G-7 central banks for June

Days after US data revealed cooler-than-expected consumer-price growth, the UK, Canada and Japan will all publish numbers for April that are likely to go in the same direction

FAO highlights potential of AI revolution in transforming agrifood system

Artificial Intelligence is not just a technological shift but is driving a fundamental economic and social transformation at the broadest level, Qu said, noting that FAO recognises its power

G7 nations reach deal to shut down their coal-fired power plants by 2035

The accord will be included in the G7 energy ministers' final communique to be released on Tuesday at the end of a two-day meeting in Turin

Italy pushes G7 to set date for coal phase-out ahead of energy meeting

An agreement on this would be one step in the direction indicated by the COP28 United Nations climate summit in Dubai last year to transition away from fossil fuels, of which coal is most polluting

'Ready to cooperate': G7 foreign ministers advocate free, open Indo-Pacific

The foreign ministers of the G7 have reiterated their commitment to a free and open Indo-Pacific region and emphasised that a growing China that plays by international rules would be of global interest. Terming China a key interlocutor in addressing global challenges, and that the G7 stands ready to cooperate with Beijing on areas of common interest, a G7 Foreign Ministers' Meeting Communique on Friday said, Our policy approaches are not designed to harm China, nor do we seek to thwart China's economic progress and development. However, we are concerned that China's nonmarket policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience. A growing China that plays by international rules would be of global interest, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the UK and the US, and the High Representative of the European Union said on the final day of the Ministerial meeting on Foreign Affairs that wa

G7 warns of new sanctions on Iran for drone attack, urges de-escalation

Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict. Italian Foreign Minister Antonio Tajani, who chaired the meeting of ministers of industrialised countries, said the agenda of the three-day meeting was changed on Friday to address the latest developments. Early Friday, Iran fired air defences at a major air base and a nuclear site near the central city of Isfahan after spotting drones. They were suspected to be part of an Israeli attack in retaliation for Tehran's unprecedented drone-and-missile assault on the country last weekend. Tajani didn't immediately address the incident, but said that G7 ministers condemned Iran's weekend attack on Israel and urged both sides to exercise restraint. The political objective is de-escalation, Tajani said in a closing press conference.

G7 foreign ministers seek urgent defence support for desperate Ukraine

G7 ministers kicked off a second day of talks on the Italian island of Capri by discussing the Middle East crisis and will turn their attention to Ukraine in the afternoon

Italy seeks G7 message to de-escalate Mideast tensions as ministers meet

Group of Seven foreign ministers are meeting on the Italian resort island of Capri, with soaring tensions in the Mideast and Russia's continuing war in Ukraine topping the agenda. Under Italy's rotating stewardship, the G7 leaders are expected to issue a united call for Israel to exercise restraint after Iran's unprecedented weekend attack involving hundreds of drones, ballistic missiles and cruise missiles fired toward the Jewish state. Italian Foreign Minister Antonio Tajani said he had spoken to his Israeli counterpart, Israel Katz, on Tuesday and urged Israel to not only de-escalate any reaction to Iran's attack but to stave off a planned offensive into the southern Gaza city of Rafah. I reiterated this message and I believe that on the occasion of the G7 foreign ministers in Capri, tomorrow and Friday morning, a similar message will be sent, Tajani told state-run RAI. With Israel's war in Gaza in its sixth month, Tehran's attack added a new element of urgency to the three-day

Iran attack on Israel risks provoking an uncontrollable escalation, says G7

Unequivocally condemning in the strongest terms Iran's direct and unprecedented attack against Israel, the G-7 leaders on Sunday said the development risks provoking an uncontrollable regional escalation even as permanent members of the UN Security Council announced to convene an emergency meeting on the issues in New York. With its actions, Iran has further stepped toward the destabilisation of the region and risks provoking an uncontrollable regional escalation. This must be avoided. We will continue to work to stabilise the situation and avoid further escalation, G-7 leaders said in a joint statement after a conference call among them initiated by President Joe Biden. The US assisted Israel in shooting down dozens of drones and missiles fired by Iran in its first direct military assault on the former. Israeli authorities said 99 per cent of the inbound weapons were shot down without causing any significant damage. In this spirit, we demand that Iran and its proxies cease their .

G7 leaders condemn Iran attack, say they stand in solidarity with Israel

President Joe Biden convened the Group of Seven advanced democracies on Sunday to coordinate a rebuke to Iran for its unprecedented and largely unsuccessful aerial attack on Israel and to prevent a wider regional escalation. After their videoconference, the leaders issued a joint statement unequivocally condemning in the strongest terms" the direct attack by Iran while expressing our full solidarity and support to Israel and reaffirming our commitment towards its security. The G7 made up of the US, Italy, Japan, Germany, France, Britain and Canada -- also said that Iran, with its actions, has further stepped toward the destabilisation of the region and risks provoking an uncontrollable regional escalation. They said their nations stand ready to take further measures now and in response to further destabilising initiatives. The United States assisted Israel in shooting down dozens of drones and missiles fired by Tehran in what was the first time that Iran has launched a direct ...

Biden condemns Iran's attack on Israel; to convene G-7 leaders' meeting

President Joe Biden has condemned Iran's unprecedented air attack on Israel and convened a meeting of the G-7 leaders on Sunday to develop a coordinated response to the brazen assault. His comments came as American forces joined efforts to down drones and missiles launched by Tehran. Israel said it and its allies have intercepted the vast majority of more than 200 drones and missiles launched by Iran. "Earlier today, Iranand its proxies operating out of Yemen, Syria and Iraqlaunched an unprecedented air attack against military facilities in Israel. I condemn these attacks in the strongest possible terms," Biden said after his call with Netanyahu. Biden said at his direction, to support the defence of Israel, the US military moved aircraft and ballistic missile defence destroyers to the region over the course of the past week. Thanks to these deployments and the extraordinary skill of our servicemembers, we helped Israel take down nearly all of the incoming drones and missiles, he

US deepened partnership with India, boosted cooperation via Quad: Blinken

The US State Secretary further said that the US is more closely aligned than ever with the G7, with the EU, and with other allies and partners on the challenges presented by Beijing

India urges G7 to delay ban on Russian diamonds as rules not clear: Report

India has urged the Group of Seven (G7) countries to delay an incoming ban on Russian diamonds because the rules to trace the origins of gems remain unclear, two sources aware of the matter said.

India may not be majorly impacted by G7 ban on Russian diamond imports

India's move came after both sides were not able to arrive at a mutually agreeable solution

Curbs on Russian diamonds by G7 to have minimal impact on India: Govt

The government on Friday said G7 nation's decision to impose curbs on direct imports of Russian-origin diamonds will have a minimal impact on India's diamond trade, a government official said on Friday. Indian officials are continuously in touch with the G7 technical team on the issue and they have managed to resolve certain issues like checking of diamonds at only one place. The G7 leaders have decided to introduce import restrictions on non-industrial diamonds, mined, processed, or produced in Russia, from January 1, 2024, followed by further phased restrictions on the import of Russian diamonds processed in third countries from March 1, 2024. Commerce Secretary Sunil Barthwal said as long as diamonds are processed in India, there should not be further checks on that because India can maintain tracking of rough diamonds. "In that respect perhaps, it is a respite to our diamond industry. They will not be put through double check," he said. Explaining further, joint secretary in t

G7 to ban Russian diamonds, announce measures on price cap, assets: Report

One source specified that the G7 was expected to announce a direct ban as of Jan. 1 and then an indirect ban with a phase in period from March 1 until Sept. 1

Hamas war: G7 announces unified stance supporting Israel after Tokyo meet

Top diplomats from the Group of Seven leading industrial democracies announced a unified stance on the Israel-Hamas war on Wednesday after intensive meetings in Tokyo, condemning Hamas, supporting Israel's right to self-defence and calling for humanitarian pauses to speed aid to desperate Palestinian civilians in the Gaza Strip. In a statement, the nations sought to balance criticism of Hamas' attacks against Israel and a push for urgent action to help civilians in the besieged Palestinian enclave in need of food, water, medical care and shelter. US Secretary of State Antony Blinken and foreign ministers from Britain, Canada, France, Germany, Japan and Italy emphasised that they support humanitarian pauses to facilitate urgently needed assistance, civilian movement and release of hostages. There was also condemnation of the rise in extremist settler violence committed against Palestinians, which the ministers said is unacceptable, undermines security in the West Bank, and threatens