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The Latest Breaking News from G7

UK is only major economy to put up taxes during cost-of-living crisis, research finds

Exclusive: Other G7 countries are cutting burden on working people by up to 0.5% of GDP, say Labour

The Independent UK

Group of Seven to hold meeting over Russia, Japan Finance Minister says

The Group of Seven (G7) industrialised nations will hold an online meeting after 1200 GMT to discuss Russia's actions in Ukraine, Japanese Finance Minister Shunichi Suzuki said on Wednesday.

Reuters

Allies join G7's WTO stance towards Russia - EU trade chief

Nine other countries have joined the G7 nations in stripping Moscow of its privileged trade treatment following Russia's invasion of Ukraine, EU trade chief Valdis Dombrovskis said on Tuesday.

Reuters

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UK announces plan to ban exports of luxury goods to Russia

Move comes after Boris Johnson and other G7 leaders agreed to deny Russia ‘most favoured nation’ status on key products

The Guardian - UK

UK seeks to hit Kremlin with ban on exporting luxury goods to Russia

G7 leaders have agreed to take steps to deny Russia ‘most favoured nation’ status on key products.

The Independent UK

G7 countries end normal trade relations with Russia over Ukraine invasion

The G7 group of nations said they were ‘united’ in holding President Putin accountable over the invasion of Ukraine

Evening Standard

US and allies set to revoke normal trade relations with Russia over Ukraine war, says Biden – as it happened

US expected to join G7 and EU in bid to punish Moscow for what White House calls ‘unprovoked and unjustified war on Ukraine’

The Guardian - US

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US bans Russian seafood, diamonds and vodka while revoking ‘Most Favoured Nation’ trade status: ‘Another crushing blow’

Mr Biden’s announcement puts Russia in the same category as Cuba and North Korea in terms of trade with America

The Independent UK

EU Unveils Fourth Set of Sanctions against Russia

The European Union will suspend Moscow's privileged trade and economic treatment, crack down on its use of crypto-assets and ban exports to Russia of EU luxury goods and import of iron and steel goods, the head of the European Commission said on Friday. The new measures amount to a fourth…

Asharq Al-Awsat

G7 nations strip Russia of ‘most favoured nation’ status

Group of wealthy nations plan to revoke benefits and impose heavy tariffs to further isolate Moscow over Ukraine war

The Guardian - UK

Biden revokes Russia trading status, bans vodka, diamond imports

US removal of Russia as ‘most favoured nation’ done in coordination with NATO allies, G7 and EU.

Al Jazeera

UK economy rebounds; Evraz directors resign after Abramovich sanctioned; BAT quits Russia – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

G7 discussed need for energy diversity including nuclear, Japan says

Japan's industry minister Koichi Hagiuda said he and other Group of Seven (G7) energy ministers agreed on the need to quickly diversify energy sources, including using nuclear power, during a meeting on Thursday to discuss Russia's invasion of Ukraine.

Reuters

Irish dairy and beef farmers urged to grow crops amid Ukraine shortage fears

Call comes as G7 agriculture ministers prepare to discuss food price volatility as war rages in Ukraine

The Guardian - UK

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Reuters

Germany to host G7 meeting on Ukraine invasion's impact on food security

Germany will host a virtual meeting of agricultural ministers from G7 countries on Friday to discuss the impact of Russia's invasion of Ukraine on global food security and how to best stabilize food markets, the government said.

Evening Standard

Ukraine war: G7 nations condemn Russian strikes on civilians saying ‘we will hold accountable those responsible for war crimes’

Nations ‘deeply concerned with the catastrophic humanitarian toll’ amid escalating attacks on cities

Reuters

G7 nations condemn attack on Ukraine civilians, urge accountability for war crimes

G7 foreign ministers on Friday said they were "deeply concerned" with the humanitarian toll from "Russia's continuing strikes" against Ukraine's civilian population and added they will hold accountable those responsible for war crimes.

Reuters

G7 to impose further sanctions on Russia if no ceasefire -Japan foreign minister

Foreign ministers of the Group of Seven (G7) advanced economies agreed on Friday they would impose further sanctions on Russia if Moscow does not stop attacking Ukraine, Japanese Foreign Minister Yoshimasa Hayashi said.

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Reuters

Japan's foreign minister to attend G7 meeting about Ukraine on Friday

Japanese foreign minister Yoshimasa Hayashi will attend a Group of Seven (G7) meeting scheduled for Friday to discuss and coordinate responses to the Ukraine crisis, the foreign ministry said, as Russia's invasion of Ukraine entered its ninth day.

Reuters

G7 will seek to seize assets of key Russian elites -Yellen

The Group of Seven major economies will convene a task force to focus on freezing and seizing assets of key Russian elites as it aims to put further pressure on Russia after its invasion of Ukraine, U.S. Treasury Secretary Janet Yellen said on Tuesday.

The Conversation

Can wealthy nations stop buying Russian oil?

One option the U.S. and other nations have for ratcheting up pressure on Russia in response to its invasion of Ukraine is reducing their Russian energy purchases. U.K. Foreign Minister Liz Truss has proposed that the G7 nations – the U.S., U.K., Canada, France, Germany, Italy and Japan – impose…

Reuters

Canada foreign minister says more sanctions coming against Russia

Canada's foreign minister said on Monday that she and her G7 counterparts agreed over the weekend to take further action against Russia in response to its military actions in Ukraine, with more sanctions coming.

Reuters

G7 leaders to hold call on Monday with NATO and EU chiefs -Italy

Leaders from the Group of Seven major industrialised nations will hold a call at 1615 GMT on Monday with the secretary general of NATO, European Union chiefs and the leaders of Romania and Poland, Italy said.

Asharq Al-Awsat

Biden, Allies to Talk Monday to Coordinate Ukraine Response

US President Joe Biden will hold a secure call with allies and partners on Monday to discuss "developments" in Russia's attack on Ukraine and "coordinate our united response," the White House said. The administration did not elaborate on who would participate in the call, which will take place at 11:15…

Reuters

China willing to work with U.S. on Build Back Better World initiative

China is willing to work with the United States on a G7-led global infrastructure plan and welcomes Washington to join its Belt and Road Initiative, Chinese Foreign Minister Wang Yi said on Monday.

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