G7 leaders said on Wednesday they stand united to support Ukraine, including its territorial integrity, and agreed to increase sanctions on Russia, in a joint statement.
The unity of the joint statement from the 15-17 June G7 summit in the French lakeside resort of Évian-les-Bains was notable as U.S. President Donald Trump's administration has at times been hard to bring on board, particularly on the thorny issue of how to end the Ukraine war.
It followed what Trump called a "very good" meeting with Ukrainian President Volodymyr Zelenskyy and other G7 leaders on Tuesday, sparking optimism that a peace deal could be struck. Zelenskyy said he could meet Trump again on Wednesday.
It also reflects how Ukraine has strengthened its position after successful drone incursions weakened Russia's hand.
The G7 leaders also welcomed the preliminary peace deal between the United States and Iran - which Trump signed on the eve of the summit, and said they are ready to contribute to its implementation.
On Wednesday, in a central theme of France's G7 presidency, leaders will turn their attention to critical minerals and global economic imbalances.
France is pushing partners to agree a statement on critical minerals that could include measures to help the West reduce its reliance on China and shield investors from counter-measures and dumping, diplomats said.
China spooked the global economy last year when some industries nearly ground to a halt after Beijing imposed export curbs on permanent magnets made of rare earths - an episode which highlighted how reliant Western supply chains in the energy.
"We are negotiating texts that are significant on critical minerals and, as a consequence, on economic sovereignty," a French presidency official said ahead of the summit.
Measures under discussion in recent months have included price supports, market standards, subsidies and guaranteed purchases, as well as means to scale up private investment in critical mineral supply chains outside China.
However, any measures announced at the G7 are likely to be first steps.
G7 leaders will also discuss how to rebalance global trade and address "predatory competition", mainly by China. France summarises the imbalances as: China produces too much, the U.S. consumes too much and the Europeans invest too little.
France's President Emmanuel Macron sought to engage China ahead of the summit in a last-ditch effort at cooperation. Beijing rejects EU claims of unfair subsidies and has repeatedly vowed "strong" countermeasures to the EU's proposed "Buy European" and revised tech sovereignty rules.
EU leaders will separately debate tougher and a more systematic use of trade defence measures against China's surging imports at a summit in Brussels on Thursday.
The EU last year recorded its largest-ever trade deficit with China of over €360 billion.
G7 leaders will also discuss AI over lunch on Wednesday, including the liability of bots and agents, and how AI presents what is true and false. OpenAI founder Sam Altman and Anthropic CEO Dario Amodei are expected to attend.
Uzbekistan and Georgia have launched an electronic permit system for international road freight, replacing paper documents in a move aimed at speed...
Kazakhstan accounts for 45% of Central Asia’s road and rail infrastructure investment, with around $32.3 billion committed as the region expa...
Türkiye said on Thursday it would continue helping Syria strengthen its military, despite rising tensions with Israel over Ankara’s role...
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the ground".
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 20th of August, covering the latest developments.
Russian ballistic missile strikes on Ukraine’s capital Kyiv has killed at least sixteen people and injured more than forty others, Ukrainian officials said, with fires reported across the city and Poland activating defensive air operations.
Five years after Evergrande's debt crisis rattled global markets, founder Hui Ka Yan has been sentenced to life in prison, marking a dramatic new chapter in the downfall of China's former property giant.
Virgin Trains has moved a step closer to challenging Eurostar’s three-decade dominance of Channel Tunnel passenger rail, potentially giving travellers more choice between the UK and mainland Europe.
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the ground".
Nearly 100 days after dozens of children were abducted from a school in northeastern Nigeria's Borno State, parents have taken to the streets to demand urgent government action to bring them home.
China and Indonesia have agreed to strengthen military ties and deepen cooperation in minerals, energy and technology as Jakarta balances relations with Beijing and Washington amid economic and geopolitical tensions.
An international conference in Baku on 21 August is putting Belgium’s colonial record in Africa under renewed scrutiny. Officials, United Nations experts, researchers and human rights advocates are gathering to discuss whether the country has done enough to address the legacy of its rule.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment