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G7 summit grapples with war in Ukraine, tensions with China By Reuters


© Reuters. G7 leaders walk after laying wreaths at the Hiroshima Peace Memorial Park in Hiroshima, Japan, Friday, May 19, 2023, during the G7 Summit. Pictured from left: President Charles Michel of the European Council, Prime Minister Giorgia Meloni of Italy, Prime


(Reuters) – Leaders of the world’s advanced democracies were set to unleash new sanctions against Russia as they gathered for a Group of Seven (G7) summit in Japan’s Hiroshima, a deeply symbolic backdrop for their effort to make Moscow end the Ukraine war.


* Ukrainian President Volodymyr Zelenskiy will travel to Japan to join the G7 summit in Hiroshima in person, Bloomberg reported on Friday.

* The United States and the rest of the “Group of Seven” major economies will unveil new sanctions and export controls targeting Russia over its war against Ukraine, a U.S. official said ahead of the summit.

* German Chancellor Olaf Scholz said his government wanted pragmatic measures to prevent the circumvention of sanctions imposed on Russia, appearing to temper U.S. calls for a more wide-ranging ban on exports.

* G7 leaders will discuss the idea of an international peace summit over Ukraine at their meeting in Japan, a European Union official said on Thursday.

* G7 leaders will discuss how to trace the trade in Russian diamonds with the aim of imposing restrictions at a later stage, an EU official said.

* Britain’s Prime Minister Rishi Sunak plans to announce a ban on Russian diamonds and imports of metals from Russia including , aluminium and nickel in support for Ukraine, his government said in a statement.


* U.S. President Joe Biden met Japanese Prime Minister Fumio Kishida on Thursday after arriving in Japan and the two discussed ways to strengthen defence cooperation and counter coercive behaviour by China, the White House said in a statement.

* China is gravely concerned about recent signs of “negative” China-related moves at the G7 Summit and urges Japan not to turn it into a “political show” against or to curb China, the country’s embassy in Japan said on Thursday.

* European Council President Charles Michel said it was in the EU’s interest to maintain “stable and constructive” cooperation with China. Speaking on the sidelines of the summit, Michel added that the EU would call on China to step up pressure on Russia to stop its military aggression in Ukraine.

* Divisions within the G7 appear to be the most notable over China, multiple officials told Reuters, with countries grappling on how to warn against what they see as China’s threat to global supply chains and economic security without completely alienating a powerful and important trade partner.

* The G7 summit will show leaders unified behind a common approach to dealing with China based on shared values, even while recognising each country will manage its own relationship with Beijing, a senior U.S. administration official said on Monday.


* Japan and France said they wanted to deepen bilateral cooperation after agreeing earlier this month to accelerate discussions for a joint military exercise framework with Paris hoping to push for reciprocal access agreements.

* Japanese businesses have committed to invest almost 18 billion pounds ($23 billion) in Britain ahead of a meeting with Sunak on Thursday, including funding for offshore wind power and other clean energy projects.

* South Korean President Yoon Suk Yeol will hold a summit with Kishida on May 21, Yoon’s office said. The announcement comes as the two countries seek to mend diplomatic ties marred by Japan’s colonial past.

* Kishida said he expected additional investment from global chipmakers into Japan after meeting with top executives ahead of the G7 summit.

* Rich nations should boost financial and technical support to poorer countries to help them tackle climate change and achieve similar decarbonisation goals, a senior Japanese environment ministry official said ahead of a G7 summit in Hiroshima.


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* Japan’s G7 refugee balancing act: door open for Ukrainians, but not many others

This story originally appeared on Investing

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