G7 Meeting In Brussels To Focus on Russia

June 4, 2014 Share Print 0

The world’s leading industrialized nations meet without Russia for the first time in 17 years on Wednesday, leaving President Vladimir Putin out of the talks in retaliation for his seizure of Crimea and Russia’s part in destabilizing eastern Ukraine.

The two-day Group of Seven (G-7) summit, taking place in Brussels rather than the previously planned Russian Black Sea resort of Sochi, will cover foreign policy, economics, trade and energy security.

The latter is an issue of particularly high sensitivity to Europe after months of tension with Moscow, which supplies nearly a third of Europe’s oil and gas.

While it is the first time Russia will not be at the table since joining the club in 1997, Putin will still hold one-on-one talks with German Chancellor Angela Merkel, Britain’s David Cameron and French President Francois Hollande this week, on the sidelines of the 70th anniversary of the D-Day landings.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.