Category: Group of Seven

U.S. and Allies Agree to Release Diesel Reserves as Prices Soar

The New York Times – Business:
The Group of 7, which includes Britain, France, Japan and others, announced the release of 100 million barrels over four months, effective immediately.
Inflation Fears Cloud G7 Economic Agenda as Iran War Persists

The New York Times – Business:
The United States and Europe were at odds over the Trump administration’s decision to ease oil sanctions on Russia.
G7 Finance Ministers Look to Contain Iran Economic Fallout

The New York Times – Business:
Top policymakers were expected to discuss rising energy prices and sanctions policy at a critical summit in Paris this week.
G7 Finance Ministers Look to Contain Iran Economic Fallout

The New York Times – Business:
Top policymakers were expected to discuss rising energy prices and sanctions policy at a critical summit in Paris this week.
As Oil Prices Rise, Trump’s War With Iran Becomes a Worldwide Economic Hazard

The New York Times – Business:
The president insists conflict with Iran will be brief, but world leaders are preparing for severe economic blowback.
Record Debt in the World’s Richest Nations Threatens Global Growth

The cost of borrowing is already choking crucial public spending in many developing economies. Now it’s raising broader alarms.
How Oil Sanctions Made Russia’s Shadow Fleet Swell

Restrictions have made it costlier for Russia to ship oil by sea. But they have also expanded the illicit shipping economy, with lasting consequences.
Trump Administration Tells Congress to Kill ‘Revenge Tax’ From Policy Bill

Treasury Secretary Scott Bessent said the Group of 7 agreed that penalties related to a 2021 “global minimum tax” deal will not apply to American companies.
Investors Brace for Oil Market Fallout From Israel and Iran’s Fight

Energy prices have jumped since the onset of clashes between Israel and Iran. Investors worry the conflict could have a big economic consequences.
As Trump Returns to G7, Rift With Allies Is Even Deeper

In 2018, the president called for the group to embrace Russia and stormed out of the summit. Now he is seeking to shrink America’s military role abroad and embarking on a more expansive trade war.
G7 Finance Ministers Show Unity in Support of Ukraine Against Russia

Top economic officials avoided a condemnation of U.S. tariffs but committed to trying to reduce “economic policy uncertainty.”
Republican Bill Could Set Off Global Tax Fight

Retaliatory taxes on foreign companies operating in the U.S. could open the door for a broader economic conflict.