G7 leaders will commit to a package of co-ordinated measures aimed at exerting more pressure on Russia and finalise plans for a global price cap on Russian oil, a senior US official has said.
The heads of the Group of Seven rich democracies are in Germany for their annual summit, which is dominated by the question of a unified respond to Russia’s war in Ukraine.
The aim of the group is to starve Russian President Vladimir Putin's government of the main source of financing for its war, which comes from oil, a US official told reporters on the sidelines of the summit at Elmau Castle in Kruen, Bavaria.
“We're still in final discussions with other G7 counterparts working to finalise this, but we're very close to a place where G7 leaders will have decided to urgently direct relevant ministers to develop mechanisms to set a global price cap for Russian oil,” the official told reporters.
The goal of the plan is to starve the Kremlin of its “main source of cash and force down the price of Russian oil”.
“The dual objectives of G7 leaders have been to take direct aim at Putin's revenue, particularly through energy, but also to minimise the spillovers and the impact on the G7 economies and the rest of the world,” the official said.
As the invasion of Ukraine enters its fifth month, western nations are ready to increase the pressure on Russia without pushing up already high inflation that is causing pain, particularly for the global south.
The price cap proposed by the G7 is intended to throw a spanner into the Kremlin’s works while lowering energy prices.
G7 leaders will also make an “unprecedented, long-term security commitment to providing Ukraine with financial, humanitarian, military and diplomatic support as long as it takes,” a White House fact sheet said. This includes the timely provision of advanced weapons.
Britain’s Prime Minister Boris Johnson praised the unity of western leaders on responding to Russia’s war in Ukraine.
“What’s really struck me in the last few days had been the amazing consistency of our resolve, the continuing unity of the G7 that has absolutely, absolutely shone through in the conversation over the last couple of days,” Mr Johnson told BBC News at the summit.
He stressed the importance of the G7 offering support to help the Ukrainians rebuild their economy, export grain and be in a position to protect themselves.
“And that’s what we’re going to continue to do,” he said.
The prime minister said the situation in the eastern and southern regions of Ukraine remains difficult “but the Ukrainians have shown that they have incredible ability to push back and change the military position”.
During a round-table discussion at the summit on Sunday, G7 leaders poked fun at President Putin’s macho image.
As they sat down for their first meeting in the Bavarian Alps, Mr Johnson asked if their jackets should come off — or even if he should be bare-chested.
“We all have to show that we're tougher than Putin,” Mr Johnson said, to laughter from some of his colleagues.
Mr Putin has in the past been pictured shirtless while hunting on horseback.
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The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
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Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
UAE-based players
Goodlands Riders: Jamshaid Butt, Ali Abid, JD Mahesh, Vibhor Shahi, Faizan Asif, Nadeem Rahim
Rose Hill Warriors: Faraz Sheikh, Ashok Kumar, Thabreez Ali, Janaka Chathuranga, Muzammil Afridi, Ameer Hamza
MATCH INFO
Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')
Red card: Casemiro (Real Madrid)
Results
International 4, United States 1
Justin Thomas and Tiger Woods (US) beat Marc Leishman and Joaquin Niemann (International) 4 and 3.
Adam Hadwin and Sungjae Im (International) beat Xander Schauffele and Patrick Cantlay (US) 2 up.
Adam Scott and Byeong Hun An (International) beat Bryson DeChambeau and Tony Finau (US) 2 and 1.
Hideki Matsuyama and C.T. Pan (International) beat Webb Simpson and Patrick Reed (US) 1 up.
Abraham Ancer and Louis Oosthuizen (International) beat Dustin Johnson and Gary Woodland (US) 4 and 3.
RACE CARD
5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA); Dh 200,000 (Turf) 1,600m
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA); Dh 200,000 (T) 1,600m
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB); Dh 380,000 (T) 1,600m
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA); Dh 500,000 (T) 1,600m
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA); Dh 5,000,000 (T) 2,200m
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA); Dh 150,000 (T) 1,400m
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T); 1,400m
Astroworld
Travis Scott
Grand Hustle/Epic/Cactus Jack
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Meydan racecard:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
7.05pm: Handicap | $135,000 (Turf) | 1,200m
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
9.20pm: Handicap | $135,000 (T) | 1,600m
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
THE 12 BREAKAWAY CLUBS
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
The five pillars of Islam