What the leaders of the seven most industrialized countries are addressing in favor of Ukraine is "whatever it takes": on the table for the second day of the summit, in addition to war, there are climate, energy, health, the food crisis, gender equality, aid humanitarian.
United for Ukraine, its territories, its future - the final document
It's an G7 united and compact alongside Ukraine what emerges in the final document in the afternoon, after two days of meetings held in German Bavaria.
“We are committed to to help Ukraine for Russia's end of war, to keep the sovereignty andterritorial integrity, to defend himself and to choose his own future” the conclusions say” adding that “we continue and will continue not to recognize Russia's attempts to rewrite the borders by force”.
Kingdom also results in the condemnation of Russia: “We continue to condemn the brutal, unprovoked, unjustifiable aggression against Ukraine by Russia, aided by Belarus,” added the G7. “We will continue to coordinate to provide material, training, logistics, intelligence and economic support to educate its armed forces,” reads the conclusion.
More convinced on the oil price ceiling
After the many increases in the price of oil, one of the main causes of the surge in inflation, which in any case only fills Russia's coffers, today the issue of the oil price ceiling was reiterated in many voices.
The president of the EU commission Ursula Von der Leyen sees in a oil price cap an obstacle to the enrichment of Putin's coffers. “We talked about the oil price ceiling,” said the President. "At the moment the experts are working on the details," the president told German TV Zdf. “It cannot be that Putin sells oil at very high prices on the world market and fills his coffers for war. The world must be ready to say: we are no longer willing to pay astronomical prices and we will have a ceiling on the price and everyone must participate".
This was also confirmed by a senior White House official, in a briefing on the sidelines of the meeting, saying that the G7 leaders are "very close” to an agreement to develop “mechanisms” capable of setting a global ceiling on the price of oil exported from Russia to countries outside the US, UK, EU and Japan. The goal is twofold, the official added: to "starve" Vladimir Putin and the war he's waging in Ukraine, robbing him of resources, and to help cushion the impact of the conflict on fuel prices at the pump.
The Italian premier also commented on the price cap Mario Draghi saying that it “has a geopolitical objective as well as an economic and social one. We need to reduce our funding to Russia. And we must eliminate one of the main causes of inflation”.
In Amsterdam, the price of gas rose by 1,37% to 130,2 euros per megawatt hour, but in the intraday it rose up to 137,25 euros per megawatt hour. The price of oil also recovered: WTI rose by 1,51% to 108,17 dollars a barrel and Brent by 0,75% to 109,92 dollars. The price of gold also rose to 1.834 dollars an ounce (+0,23%) and of silver to 21,43 dollars (+1,32%).
US and EU united in reducing Russian revenue
US President Joe Biden and the president of the European Commission said in a joint statement that they are working together to find ways to further reduce Russia's energy revenues in the coming months, in order to further cut Russia's capacity. to finance his war. "These actions are important, necessary and immediate steps we can take, but we also recognize the enormity of the challenge," the joint statement reads.
White House: targeted sanctions and new duties, counterattack on infrastructure. Also blocking of gold
From the White House arrive indications on forthcoming sanctions which will have to be more targeted to hinder Russian military production and supplies. Biden aims to increase tariffs on 570 groups of Russian goods worth $2,3 billion, the White House said on the sidelines of the G7.
Furthermore, the G7's final declaration reads, “we are determined to reduce Russia's revenues, including those from gold”.
The USA, together with the other G7 countries, have played in counterattack with respect to the Russian-Ukrainian front, announcing their intention to improve the infrastructure in other parts of the world.
“The US and other G7 countries will allocate 600 billion dollars between now and 2027 for investment in infrastructure around the world,” said US President Joe Biden. The US will contribute 200 billion dollars to the total amount over the next 5 years.
The partnership, designed to offer an alternative to China's Silk Road, "will deliver breakthrough projects to bridge the infrastructure gap in developing countries, strengthen the global economy and supply chains, and advance states' national security." United. It is an investment that will have a return for Americans and for all citizens of the world”.
Mario Draghi: Putin must not win, eliminate energy dependence on Russia
The world seen from Draghi's point of view will never be the same again: “One can no longer think of being dependent on Russian energy. Even when energy prices go down, it is unthinkable to go back to having the same dependence on Russia that we had. We have to do away with ours forever dependence of Russia". “Putin must not win. We stand united in support of Ukraine,” he said Mario Draghi. “We need to continue working on how to cap the price of gas.” The Italian premier then returned to solicit the issue of unlocking the Ukrainian wheat. “It is essential to unlock grain in Ukraine long before mid-September when the new crop arrives. We must give all our support to the United Nations, so that they can proceed faster in its mediation work", said the Prime Minister.
Climate: we need to speed up the environmental transition
G7 leaders confirmed what was written in the Paris Agreement and in Glasgow pact for the climate, to keep the global average temperature increase well below 2°C and agreeing to continue efforts to limit it to 1,5°C above pre-industrial levels.
