G7 summit: What’s expected from the upcoming meet amid war in Ukraine, global food crisis?

The Russian war in Ukraine has ravaged beyond 122 days, plunging global markets into pits of economic crisis as well as raising a serious threat to food security. In addition, European countries are also struggling to wean themselves off from Russian gas, after Moscow announced a supply cut-off to at least 7 EU nations, posing a serious threat to the population in the upcoming winter. Given the pounding impact of the war, global stability, ascertaining optimal alternatives for Russian gas supplies, and addressing the looming food crisis will be top on the Group of Seven (G7) Summit this season.

The leaders of the US, Canada, France, Italy, Japan, and the UK will gather in Germany to deliberate on ways to bring balance to the wobbly global markets and supply chain bottlenecks. Before diving into the agenda of the upcoming summit, it is pertinent to understand its structure and functionality.

What is G7?

The Group of Seven or G7 is a union of 7 wealthiest nations of the world, namely - the UK, US, Canada, Japan, Germany, France, and Italy. These countries meet annually to discuss matters pertaining to global security, economy, climate crisis, and looming threats. "It is the gathering of some of the most economically and democracies of the world...happening at the time when we have the greatest pensioners threat since Nazi Germany invaded Europe," said executive VP of Freedom House Nichole Bibbins Sedaca.

When & where will the G7 summit take place?

The Group of Seven G7 Summit will take place from June 26 to June 27. The event will be held at Schloss Elmau in the Bavarian Alps, Germany. It will be hosted by Berlin, which took over on January 1, 2022. The global convention with a kick-off with a bilateral meeting between German Chancellor Olaf Scholz and US President Joe Biden, TRT World reported. In the wake of the war and brutal Russian atrocities, Ukrainian President Volodymyr Zelenskyy will also be among the attendees of the summit, although remotely. It is customary for the European Union (EU) President Ursula von der Leyen and European Council President Charles Michel to attend. India, South Africa, Indonesia, and Senegal have also been invited to attend the global meet.

What will be the agenda for the G7 summit?

The threats posed by the ongoing Russian war have remained on the agenda for most of the global summits that have taken place in the past few months. The G7 is expected just to be a step ahead. The imminent crises like food insecurity due to the Russian blockade, Moscow's increasing leverage over EU countries' dependence on Russian gas, and the war crimes committed by troops of the Russian Federation will be the highlight of the meeting. "There is a real premium on conveying unity and credible response because this war is not going to be short-lived," said Micheal Hanna, US Programme Director at the International Crisis Group, as quoted by Time.

While Russia deserves a "lion's share" of the blame for the global economic situation, the subsequent economic shocks due to West-led sanctions cannot be blindsided, Hanna added. Meanwhile, earlier Germany's Scholz also reminded leaders to be cautious about neglecting other global priorities amid war-centric discussions.

Leaders' top priorities

Among all other repercussions of the war, the impact on global food supplies has been dire. Since the invasion, dwindled grain exports from Russia and Ukraine (two major producers of food grain) the agricultural markets have faced severe shortages, mostly from vulnerable African countries, which depend nearly 40% on imports from the warring factions. According to the Kyiv agriculture ministry report, over 20,000 tonnes of grain are stuck in silos inside Ukraine as they are not able to send out shipments due to the Russian blockade of the Black Sea ports. However, Russia has largely denied allegations of the blockade, in turn, pinning the blame on Kyiv.

According to Time, vaccine equity and the World Health Organisation (WHO) goal of achieving 70% global vaccination will also be among the top agendas at the summit.

G7 nations help Ukraine

From humanitarian aid to lethal weapons, the G7 nations have been pouring assistance to help Kyiv deter Russian aggression. The G7 countries have sanctioned top Russian banks from the international payments system, directly hitting Moscow's financial sector. Further, it has also imposed export bans and penalties on the assets of Russian oligarchs in EU countries. The US aid has touched a record $53 billion, with the second allotment since February 2022, while Germany is expected to deliver rocket-mounted artillery guns. Canada has promised over $274 million in assistance to Ukraine.

(Image: @G7/Twitter)