The Latest Breaking News from G7

Capping Russia's oil profits could keep oil flowing to global markets at a reasonable cost while slashing Putin's war funding

The world as we know it cannot function without oil, giving oil-producing countries an advantage economists call market power. Nations that produce oil are able to set the price, while countries that rely on oil have little choice but to buy it at prices determined by the seller.

The Conversation · Oct 4, 2022

U.S. Treasury seeks phased G7 oil sanctions as EU ban looms

G7 sanctions on Russia will target its oil and products in three phases, senior U.S. treasury official Ben Harris said on Tuesday, as the bloc seeks to limit unintended economic damage while curbing Moscow's funds to wage war in Ukraine.

Reuters · Oct 4, 2022

Truss to attend first meeting of European Political Community

Inaugural summit of EU initiative that aims to unite Europe on issues such as security and energy to take place in Prague

The Guardian - UK · Sep 29, 2022

Government to push on with tax cuts as pound hits all-time low against dollar

Neither Chancellor Kwasi Kwarteng nor Liz Truss are currently expected to publicly address the major market shift, following Friday’s mini-budget

Evening Standard · Sep 26, 2022

Govt aims to boost economy by easing entry for intl travelers

Prime Minister Fumio Kishida announced his intention to increase the number of inbound travelers to Japan by lifting the current ban on the acceptance of individual foreign travelers from Oct. 11.

The Japan News/Yomiuri · Sep 24, 2022

Moscow to stop energy supply if prices are unfair, says Russian Ambassador to India Denis Alipov

India has maintained that the purchase of Russian crude is not made through government intervention and the supply is being sourced from the global market

The Hindu · Sep 23, 2022

Cost of living crisis: what are the rest of the G7 doing?

From generous one-off benefit payments to caps on rent increases, state intervention is taking shape across the G7

The Guardian - UK · Sep 22, 2022

Biden state visit to UK ‘being considered for 2023’

Diplomatic sources believe the 25th anniversary of the Good Friday Agreement would be an ideal time for Joe Biden

The Independent UK · Sep 21, 2022

Mini-budget predictions: What should we expect from Kwasi Kwarteng?

The Standard looks at the moves the chancellor could announce

Evening Standard · Sep 21, 2022

Denmark offers ‘loss and damage’ funding to poorer countries for climate breakdown

Denmark ‘gets ball rolling’ at UN ahead of protests as poor nations call for greater collective commitment

The Guardian - UK · Sep 21, 2022