Russia has given up on the so called group of seven plus Russia, the G8. Vladimir Putin has decided that membership does not have its privileges.
“Such a format does not exist for now,” Kremlin spokesman Dmitry Peskov told a local radio station in Moscow on Thursday.
Leaders of the G7 — meeting in Normandy to commemorate the anniversary of D-Day, when allied troops stormed the beach of norther France to launch a war against Germany and Italy — declared in March that they would boycott the G8 summit in Sochi this month. Instead, they took their silver spoons and shared tea and talk in Brussels for a two-day G7 summit.
The expulsion of Russia from the G8 came three days after Moscow annexed Crimea from Ukraine. Crimeans voted to secede after the interim government of Ukraine decided to ban Russian as an official language. Moscow and the West have been locking horns ever since, with the Russia playing its victim card and the U.S. and E.U. playing the part of punishing parent. Both Washington and Brussels have sanctioned Russia for its support of the ethnic Russian separatist movement in east Ukraine.
Peskov said Putin will not discuss Ukraine with President Barack Obama even though both will be meeting in Normandy on Friday.
“We are not making such preparations,” Itar-Tass news agency quoted him as saying.
G7 leaders concluded their meeting in Brussels today and said in a press conference that they will support the new government of Petro Poroshenko in Ukraine. European Commission President Jose Manuel Barroso said the G7 “stands united behind Ukraine and its new leadership, politically and economically.”
Barroso also urged Russia to take concrete and credible measures to de-escalate situation in Ukraine. ”We stand ready to take further action if that’s necessary,” Barroso added, hinting at more sanctions.
With a group of friends like that…who needs enemies?
Russian equities ignored the sanction threats today. The Market Vectors Russia (RSX) exchange traded fund settled 0.72% higher at $25.84 per share.
Source: forbes.com by Kenneth Rapoza
Leaders of the G7 — meeting in Normandy to commemorate the anniversary of D-Day, when allied troops stormed the beach of norther France to launch a war against Germany and Italy — declared in March that they would boycott the G8 summit in Sochi this month. Instead, they took their silver spoons and shared tea and talk in Brussels for a two-day G7 summit.
The expulsion of Russia from the G8 came three days after Moscow annexed Crimea from Ukraine. Crimeans voted to secede after the interim government of Ukraine decided to ban Russian as an official language. Moscow and the West have been locking horns ever since, with the Russia playing its victim card and the U.S. and E.U. playing the part of punishing parent. Both Washington and Brussels have sanctioned Russia for its support of the ethnic Russian separatist movement in east Ukraine.
Peskov said Putin will not discuss Ukraine with President Barack Obama even though both will be meeting in Normandy on Friday.
“We are not making such preparations,” Itar-Tass news agency quoted him as saying.
G7 leaders concluded their meeting in Brussels today and said in a press conference that they will support the new government of Petro Poroshenko in Ukraine. European Commission President Jose Manuel Barroso said the G7 “stands united behind Ukraine and its new leadership, politically and economically.”
Barroso also urged Russia to take concrete and credible measures to de-escalate situation in Ukraine. ”We stand ready to take further action if that’s necessary,” Barroso added, hinting at more sanctions.
With a group of friends like that…who needs enemies?
Russian equities ignored the sanction threats today. The Market Vectors Russia (RSX) exchange traded fund settled 0.72% higher at $25.84 per share.
Source: forbes.com by Kenneth Rapoza
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