G7

The Group of Seven (G7) and its allies are working to disrupt Russia’s covert fleet of oil vessels, which the country has been using to bypass sanctions. The move is part of a broader strategy to limit Russia’s ability to trade its crude oil. What Happened: A senior official from the UK...

Japan, a key ally of the U.S. in Asia, is advising U.S. presidential candidate Donald Trump against forming any agreements with China that could potentially disrupt the region’s precarious peace. What Happened: Japan has amplified its efforts to communicate with individuals close to Trump,...

In response to potential Western plans to confiscate its frozen assets to aid Ukraine, Russia has issued a stern warning of retaliatory measures. What Happened: Business Insider reported that the Russian state RIA news agency cautioned on Sunday that if the West seizes Moscow’s frozen assets...

Leaders from the Group of Seven (G7) are set to endorse a voluntary code of conduct for enterprises engaged in developing advanced artificial intelligence technologies.  This move aims to manage the potential risks and misuse associated with AI systems. What Happened: The ...

The BRICS nations — Brazil, Russia, India, China and South Africa agreed to admit more members into the coalition.   More countries are waiting in the wings to join the group. What Happened: The BRICS summit was held in Johannesburg, South Africa, this week. Membership remains poised to expand to...

The Shanghai-based New Development Bank, established by the BRICS nations, is reportedly set to roll out loans denominated in the South African rand and Brazilian real, a strategic move aimed at reducing reliance on the U.S. dollar and fostering a more multipolar global financial...

The BRICS nations are converging in South Africa for a three-day meeting, beginning on Tuesday. Ahead of the official start of the summit, China has started a war of words with the G7 nations. What Happened: "If we expand BRICs to account for a similar portion of world GDP as the G7, then our...

U.S. President Joe Biden said he's keen to strike a deal with lawmakers that would avoid his government from defaulting on its debt obligations but that doesn't mean he's willing to ink an agreement friendly to "crypto traders." "I'm not going to agree to a deal that...

President Joe Biden has reportedly urged his negotiators to keep following a debt-limit deal after House Speaker Kevin McCarthy indicated both parties may reach an agreement as soon as this weekend. In a call early Friday from Japan, where Biden is attending the Group of Seven summit, the President...

The G7 summit, held this year in the city of Hiroshima in Japan, will focus on strengthening Western nations' unity and cooperation against global geopolitical challenges. In a three-day meeting, President Joe Biden and allies from Japan, the U.K., Canada, Germany, France ...

President Joe Biden is cutting the Asia trip short and returning to the U.S. Sunday after the G7 meeting for debt ceiling negotiations. Biden will return to the U.S. Sunday after the G7 meeting in Japan for debt ceiling negotiations, according to Kelly O’Donnell of NBC News. Biden had been...

Treasury Secretary Janet Yellen, while speaking at the meeting of Group of Seven finance officials, reportedly said failure to avert a looming default would spark a global downturn, risk undermining U.S. global economic leadership and raise questions about its ability to defend national security...

The Group of Seven (G7) nations have agreed to put a price cap of $60-per-barrel on Russian crude oil. On Friday, the European Union decided on the same price. As per the new consensus, the cap will ban companies from shipping, insuring, or financing Russian oil unless the oil is sold below $60 a...

The Group of Seven (G7) rich nations and Australia have decided to set a fixed price when they finalize a price cap on Russian oil later this month, as against adopting a floating rate, Reuters reported, citing anonymous sources. “The Coalition has agreed the price cap will be a fixed price...

Led by investor skepticism and burgeoning risk in the financial markets driven by crude oil price volatility and central banks’ actions to tame inflation, President Joe Biden's team members are considering reworking a plan to cap Russian oil prices, reported Bloomberg. The U.S....