“We will continue to provide financial, humanitarian, military and diplomatic support and to stand by Ukraine for as long as necessary.” This is what we read in the draft of the G7 press release reported by Bloomberg. In the document, the leaders of the G7 are considering the possibility of using the proceeds of tariffs on imports from Russia to support Ukraine.
Forte unity message by the leaders of the G7. “Putin hopes that someone in the G7 and NATO will split, but it hasn’t happened at all and it won’t happen”, he assures Biden, which announces the allocation of $ 600 billion between now and 2027 for investments in infrastructure around the world. On the price cap for oil proposed by the US, Paris opens but the president of the EU council Michel explains that we must “hit Russia and not our economies”. Putting a ceiling on the price of fossil fuels imported from Russia – said Draghi – has a geopolitical objective as well as an economic and social one, because even when energy prices drop, it is unthinkable to return to having the same dependence on Russia. And we need to eliminate one of the main causes of inflation.
DRAGHI: ‘ELIMINATE FOREVER DEPENDENCE ON RUSSIAN ENERGY’
Eliminate energy dependence on Russia forever. First with a boost to gas infrastructures, then with the conversion to hydrogen. It is the premier’s recipe Mario Draghiwhich from the G7 summit warns: “The energy crisis does not produce the return of populisms”.
Even when energy prices fall, it is unthinkable to go back to having the same dependence on Russia as we did. We must eliminate our dependence on Russia forever, “said Draghi.” In the current situation there are short-term needs that will require large investments in gas infrastructure for developing countries and beyond. We will have to make sure that they can then be converted to the use of hydrogen, a way to reconcile short-term needs with long-term ones, “Draghi said in a press release.
On price cap“Putting a ceiling on the price of fossil fuels imported from Russia has a geopolitical as well as an economic and social objective. We must reduce our funding to Russia. And we must eliminate one of the main causes of inflation, remarked Draghi.
“We must avoid the mistakes made after the 2008 crisis: the energy crisis must not produce a return of populism“Draghi highlighted.” We have the tools to do this: we must mitigate the impact of rising energy prices, compensate families and businesses in difficulty, tax companies that make extraordinary profits. “Draghi then went back to soliciting on unblocking of Ukrainian grain. “We need to accelerate our efforts on the food security front. It is essential to unblock the grain in Ukraine long before mid-September, when the new harvest arrives. We must give our full support to the United Nations, so that it can proceed faster in its work of mediation, “said the prime minister.
BIDEN: FROM G7 600 BILLION FOR WORLDWIDE INFRASTRUCTURE
The US, together with the other G7 countries, will allocate $ 600 billion between now and 2027 for investments in infrastructure around the world. American President Joe Biden said this when launching the partnership on the sidelines of the summit in Germany. The US will contribute $ 200 billion to the total over the next 5 years. The ‘Partnership for Global Infrastructure and Investment’ “will deliver revolutionary projects to bridge the infrastructure gap in developing countries, strengthen the global economy and supply chains, and advance US national security.” The initiative was launched by Biden and other G7 leaders at the Cornwall summit to offer an alternative to China’s Silk Road. “When democracies come together, there’s nothing they can’t accomplish,” Biden said. “This plan it is not charity, it is an investment which will have a return for Americans and for all citizens of the world “.
G7, the bilateral between Emmanuel Macron and Boris Johnson
FROM THE G7 THE MESSAGE OF UNITY AGAINST MOSCOW
From Elmau Castle, Germany, G7 leaders send a unity message at the Kremlin’s address, affirming a granitic compactness on the war front, even if the differences on oil and gas have not yet been resolved. British Prime Minister Boris Johnson and French President Emmanuel Macron they see a chance to “reverse the course” of the war in Ukraine, reports Downing Street after the bilateral meeting between the two at the Elmau G7.
Ukraine, Michel at the G7: ‘More military and financial aid from the EU’