Latest news with #G7Nations
CNA
4 days ago
- Politics
- CNA
G7 expresses support for Israel, calls Iran source of instability
WASHINGTON: The Group of Seven nations expressed support for Israel in a statement issued late on Monday (Jun 16) and labelled its rival Iran as a source of instability in the Middle East, with the G7 leaders urging broader de-escalation of hostilities in the region. The air war between Iran and Israel – which began on Friday when Israel attacked Iran with air strikes – has raised alarms in a region that had already been on edge since the start of Israel's military assault on Gaza in October 2023. "We affirm that Israel has a right to defend itself. We reiterate our support for the security of Israel," G7 leaders said in the statement. "Iran is the principal source of regional instability and terror," the statement added and said the G7 was "clear that Iran can never have a nuclear weapon." Israel attacked Iran on Friday in what it called a preemptive strike to prevent Tehran from developing nuclear weapons. Since then the two Middle Eastern rivals have exchanged blows, with Iranian officials reporting over 220 deaths, mostly civilians, while Israel said 24 civilians were killed. Iran denies seeking nuclear weapons and has said it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty. Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons. Israel does not deny or confirm that. The United States has so far maintained that it is not involved in the Israeli attacks on Iran although Trump said on Friday the US was aware of Israel's strikes in advance and called them "excellent". Washington has warned Tehran not to attack US interests or personnel in the region. "We urge that the resolution of the Iranian crisis leads to a broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza," the G7 statement said, adding the nations were also ready to coordinate on safeguarding stability in energy markets. An Israeli strike hit Iran's state broadcaster on Monday while Trump said in a social media post that "everyone should immediately evacuate Tehran". Separately, US Secretary of State Marco Rubio also discussed the Israel-Iran war in phone calls with his British, French and European Union counterparts on Monday.
Reuters
4 days ago
- Politics
- Reuters
G7 expresses support for Israel, calls Iran source of instability
WASHINGTON, June 16 (Reuters) - The Group of Seven nations expressed support for Israel in a statement, opens new tab issued late on Monday and labeled its rival Iran as a source of instability in the Middle East, with the G7 leaders urging broader de-escalation of hostilities in the region. The air war between Iran and Israel - which began on Friday when Israel attacked Iran with air strikes - has raised alarms in a region that had already been on edge since the start of Israel's military assault on Gaza in October 2023. "We affirm that Israel has a right to defend itself. We reiterate our support for the security of Israel," G7 leaders said in the statement. "Iran is the principal source of regional instability and terror," the statement added and said the G7 was "clear that Iran can never have a nuclear weapon." Israel attacked Iran on Friday in what it called a preemptive strike to prevent Tehran from developing nuclear weapons. Since then the two Middle Eastern rivals have exchanged blows, with Iranian officials reporting over 220 deaths, mostly civilians, while Israel said 24 civilians were killed. Iran denies seeking nuclear weapons and has said it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty. Israel, which is not a party to the NPT, is the only country in the Middle East widely believed to have nuclear weapons. Israel does not deny or confirm that. President Donald Trump planned to leave the G7 summit in Canada early to return to Washington due to the Middle East situation. The United States has so far maintained that it is not involved in the Israeli attacks on Iran although Trump said on Friday the U.S. was aware of Israel's strikes in advance and called them "excellent." Washington has warned Tehran not to attack U.S. interests or personnel in the region. "We urge that the resolution of the Iranian crisis leads to a broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza," the G7 statement said, adding the nations were also ready to coordinate on safeguarding stability in energy markets. An Israeli strike hit Iran's state broadcaster on Monday while Trump said in a social media post that "everyone should immediately evacuate Tehran." Separately, U.S. Secretary of State Marco Rubio also discussed the Israel-Iran war in phone calls with his British, French and European Union counterparts on Monday. Washington said Trump was still aiming for a nuclear deal with Iran.
Bloomberg
11-06-2025
- Politics
- Bloomberg
Group of Seven Tries to Avoid Trump Conflict by Scrapping Joint Communique
Group of Seven nations won't try to reach consensus on a joint communique at next week's leaders summit in Canada, people familiar with the matter said, an acknowledgment of the wide gulf that separates the US from the other members on Ukraine, climate change and other issues. In place of a single document, G-7 leaders are likely to release standalone joint leaders' statements on various topics, according to the people, who asked not to be identified discussing private deliberations.
Bloomberg
28-05-2025
- Business
- Bloomberg
Falling Russian Oil Prices Drive Exports' Value to Two-Year Low
The value of Russia's crude shipments hit a two-year low in the four weeks to May 25 even as Moscow shrugged off a threat that the G-7 group of nations may tighten the price cap on the country's exports. Flows averaged 3.39 million barrels a day in the four weeks to May 25, tanker-tracking data compiled by Bloomberg show. That was down by just 10,000 barrels a day on the period to May 18. But the gross value of those cargoes was the lowest since April 2023.
Al Jazeera
23-05-2025
- Business
- Al Jazeera
G7 threatens further sanctions if Russia fails to agree Ukraine ceasefire
Finance officials from the Group of Seven (G7) nations have threatened they could impose further sanctions on Russia should it fail to agree a ceasefire in its war on Ukraine. Ending their G7 meeting in the Canadian Rocky Mountains, where foreign ministers were also convening this week, the finance chiefs said on Thursday night that if efforts to end Russia's 'continued brutal war' in Ukraine failed, the group would look at how it could push Moscow to step back. 'If such a ceasefire is not agreed, we will continue to explore all possible options, including options to maximise pressure such as further ramping up sanctions,' a final communique following three days of meetings read. The G7, comprised of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, also pledged to work together to ensure that no countries that financed the war would be eligible to benefit from Kyiv's reconstruction. Canadian Finance Minister Francois-Philippe Champagne said that point was a 'very big statement', calling it a key pillar. However, the group shied away from naming countries, including China, which the West has previously accused of supplying weapons to Russia. The communique added that Russia's sovereign assets in G7 jurisdictions would continue to be blocked until Moscow ended the war and paid reparations to Ukraine for the damage it caused to the country. 'I think it sends a very clear signal to the world … that the G7 is united in purpose and in action,' Champagne told the closing news conference. However, the statement omitted mention of US President Donald Trump's tariffs that are disrupting global trade and supply chains and swelling economic uncertainty. Differences were also apparent in the approach to Russia's war in Ukraine. Trump has unnerved US allies by sidelining them to launch bilateral ceasefire talks with Moscow, in which US officials have adopted many of the Kremlin's narratives regarding the conflict. In the statement, the description of the war was watered down from October's G7 statement, issued before Trump's re-election, that called it an 'illegal, unjustifiable, and unprovoked war of aggression against Ukraine'. According to European Commission executive vice president, Valdis Dombrovskis, the ministers discussed a proposal to lower the $60-a-barrel price cap to $50 on Russian oil exports since Russian crude was selling below that level. However, the official G7 communique did not present the plan as the US was 'not convinced' about lowering the price cap, an unnamed European official told the Reuters news agency. Hours before the G7 meeting, the European Parliament also greenlit tariffs on Russian fertiliser imports. According to the European Union bill, duties will be enforced from July 1 and gradually increase over three years, from 6.5 percent to about 100 percent, halting trade. As international entities continue to place sanctions on Russia for invading Ukraine, diplomatic efforts to end the war have increased after the two sides held their first face-to-face meeting last week. However, Moscow appears set to continue to stall, as it has been doing since the US launched its push to broker a truce. The Kremlin said on Thursday that new talks were 'yet to be agreed' after reports that the Vatican was ready to host a future meeting to discuss a ceasefire. Still, Russia and Ukraine are trading attacks. On Friday morning, Russia's Ministry of Defence said its air defence systems had downed 112 Ukrainian drones overnight, including 24 over the Moscow region. A day earlier, Russia said it had fired an Iskander-M missile at part of the city of Pokrov in Ukraine's Dnipropetrovsk region.
