Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

DG ISPR blames ‘Fitna Hindustan’ for Khuzdar school attack

May 23, 2025

Borders and ballots: Why Essequibo is controversial in Venezuela’s election | Elections News

May 23, 2025

Intuit shares pop 9% on earnings beat, rosy guidance

May 23, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » G7 vows to address global economic ‘imbalances’, considers Russia sanctions | Russia-Ukraine war News
News

G7 vows to address global economic ‘imbalances’, considers Russia sanctions | Russia-Ukraine war News

i2wtcBy i2wtcMay 23, 2025No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


The group said it would call for analysis on international supply chain resilience.

Finance ministers and central bank governors from the Group of Seven (G7) democracies have pledged to address “excessive imbalances” in the global economy and said they could increase sanctions on Russia.

The G7 announced the plan on Thursday as the officials, who met in the Canadian Rocky Mountains, said there was a need for a common understanding of how “non-market policies and practices” undermine international economic security.

The document did not name China, but references by the United States and other G7 economies to non-market policies and practices often are targeted at China’s state subsidies and export-driven economic model.

The final communique called for an analysis of market concentration and international supply chain resilience.

“We agree on the importance of a level playing field and taking a broadly coordinated approach to address the harm caused by those who do not abide by the same rules and lack transparency,” it said.

Lowering Russian oil price cap

European Commission Executive Vice President Valdis Dombrovskis said the G7 ministers discussed proposals for further sanctions on Russia to try to end its war in Ukraine. They included lowering the G7-led $60-per-barrel price cap on Russian oil, given that Russian crude is now selling under that level, he said.

The G7 participants condemned what they called Russia’s “continued brutal war” against Ukraine and said that if efforts to achieve a ceasefire failed, they would explore all possible options, including “further ramping up sanctions”.

Russia’s sovereign assets in G7 jurisdictions would remain immobilised until Moscow ended the war and paid for the damage it has caused to Ukraine, the communique said. It did not mention a price cap.

Brent crude currently trades at around $64 per barrel.

A European official said the US is “not convinced” about lowering the Russian oil price cap.

Earlier this week, the US Treasury said Secretary Scott Bessent intended to press G7 allies to focus on rebalancing the global economy to protect workers and companies from China’s “unfair practices”.

The communique also recognised an increase in low-value international “de minimis” package shipments that can overwhelm customs and tax collection systems and be used for smuggling drugs and other illicit goods.

The duty-free de minimis exemption for packages valued below $800 has been exploited by Chinese e-commerce companies including Shein and Temu.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

News

Borders and ballots: Why Essequibo is controversial in Venezuela’s election | Elections News

May 23, 2025
News

Real Madrid coach Ancelotti wishes luck to his successor Alonso | Football News

May 23, 2025
News

Israel maintains minimal aid deliveries to Gaza amid hunger crisis | Israel-Palestine conflict News

May 23, 2025
News

EU membership, seizing Russia’s money needed to rebuild Ukraine: Analysts | Russia-Ukraine war News

May 23, 2025
News

Record floods kill four and devastate eastern Australia | Environment News

May 23, 2025
News

Japan faces a ‘rice crisis’ as price nearly doubles for food staple | Inflation News

May 23, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

DG ISPR blames ‘Fitna Hindustan’ for Khuzdar school attack

May 23, 2025

Swimming at the 2023 World Aquatics Championships Preview

January 5, 2020

21 Best Smart Kitchen Appliances 2024 – Smart Cooking Devices

January 6, 2020

World Music Day 2023: What Is It and Why Do We Celebrate It?

January 7, 2020
Don't Miss

Will the United States deport people to Rwanda? | Refugees News

By i2wtcMay 23, 20250

After a plan by the United Kingdom to deport asylum seekers to Rwanda was scrapped…

Trump bars Harvard international enrolment: How many students will it hurt? | Donald Trump News

May 23, 2025

The Take: Josh Paul resigned over Gaza. What comes next? | Gaza News

May 23, 2025

Florida court orders ex-Mexican security chief to pay millions to Mexico | Courts News

May 23, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

DG ISPR blames ‘Fitna Hindustan’ for Khuzdar school attack

May 23, 2025

Borders and ballots: Why Essequibo is controversial in Venezuela’s election | Elections News

May 23, 2025

Intuit shares pop 9% on earnings beat, rosy guidance

May 23, 2025
Most Popular

Paris targets Chinese prostitutes in Belleville in pre-Olympic raids

May 25, 2024

High prices drive Hong Kong residents to China for cheap food, shopping | Economy

May 27, 2024

Is China building a strategic base in Cambodia? – DW – May 28, 2024

May 28, 2024
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.