The US government official accused Russian President Vladimir Putin of using “food as a weapon of war”. It was estimated that up to 40 million people might be pushed into poverty this year as a result of Putin’s war of aggression once morest Ukraine. This in turn would affect food security around the world.
The official said US President Joe Biden will pledge $2.76 billion in additional US funding for efforts in more than 47 countries and regional organizations at the summit. $2 billion of that would be used to save lives through direct humanitarian action. $760 million is earmarked for sustainable short- and medium-term food aid.
The group of leading democratic economic powers also wants to stick to the current climate protection goals despite the energy crisis triggered by the Ukraine war. According to information from the German Press Agency, the members will make it clear in the final declaration of the G7 summit meeting in Schloss Elmau, Bavaria, that they continue to see the so-called Paris Agreement as a guideline for their actions.
In December 2015, the countries of the world agreed to make efforts to limit global warming to 1.5 degrees if possible.
“While we take immediate action to secure energy supplies and halt the rise in energy prices due to exceptional market conditions, we will not meet our climate and biodiversity goals – including the energy transition – nor ours Commitments to ending our dependence on Russian energy are in jeopardy.”
Climate protectors fear that because of the planned farewell to Russian gas, the phase-out of coal-fired power generation, which is comparatively harmful to the climate, might be delayed. Like the Austrian government, the German federal government has already announced that it will start up coal-fired power plants once more in order to save natural gas.
As a measure to stem the rise in energy prices, the G7 countries are considering capping the price of Russian oil, according to the draft communiqué. This might work by the West tying services such as insurance for oil shipments to compliance with the price cap. On the one hand, the upper limit is intended to ensure that Russia no longer benefits from price increases on the energy market. On the other hand, it should contribute to a relaxation on the oil markets worldwide. Not only in the EU, but also in the USA, the high fuel prices are currently a big issue.
According to dpa, the text should read: “We are concerned regarding the burdens caused by increases in energy prices and the instability of the energy markets.” These exacerbated inequalities at national and international level and threatened shared prosperity. In coordination with the International Energy Agency (IEA), further measures will be examined to reduce price jumps and prevent further effects on economies and societies worldwide.
In the G7 countries, short-term financial support is provided for the weakest sections of the population, but also for companies and industry. In addition, developing countries will also be helped and steps to support the stability of the global energy market will be intensified. To this end, it is planned to increase the joint production in the short term, to use the energy reserves appropriately and to work together with international partners.
According to the text, the oil cartel OPEC, which is dominated by countries such as Saudi Arabia, should also be asked to further increase production in order to reduce tensions on the energy markets. The latest answers from OPEC are welcomed, but they are called on to continue to act in this regard, according to the text available to the dpa.
According to information from US circles, the G7 countries also want to take action once morest forced labor. Products made with forced labor are to be excluded from global supply chains. A corresponding passage will be contained in the final document of the heads of state and government of the seven most important western industrialized countries at their summit in Elmau, according to US delegation circles. This has never happened before and is primarily aimed at China, it said.
The summit of the heads of state and government of the G7 countries in Elmau ends on Tuesday with a final press conference by Germany’s Chancellor Olaf Scholz. In addition to Germany, the Group of Seven (G7) includes the USA, Canada, Great Britain, France, Italy and Japan. The EU is also represented by Commission President Ursula von der Leyen and Council President Charles Michel.