Russia To Form 'new G8' With Iran And China | National Post

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Russia is allegedly en route to create a “new G8” in response to its ruptured economic ties with the United States and western allies such as Canada.

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“The economies of the United States, Japan, Germany, Britain, France, Italy, and Canada continue to collapse under the pressure of sanctions against Russia,” asserted the Duma’s head of state, Vyacheslav Volodin, on Telegram.

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“The breakup of existing economic relations by Washington and its allies has led to the formation of new points of growth in the world,” Volodin’s statement continued.

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The eight countries that do not participate in the “sanctions wars” are China, India, Russia, Indonesia, Brazil, Mexico, Iran and Turkey.

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These countries are “24.4 per cent ahead of the old group in terms of GDP per capita,” Volodin said.

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According to Volodin, these countries “want to develop dialogue and mutually beneficial relations with Russia” in a de facto “new G8”.

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In March 2014, Russia was suspended indefinitely from the G8 following the annexation of Crimea, whereupon the political forum name reverted to G7. In 2017, Russia announced its permanent withdrawal from the G8.

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Russia, however, still participates in the larger G20, raising concerns with many officials following Putin’s invasion of Ukraine.

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Earlier in April, the G20 finance ministers and central bank governors met in Washington to discuss economic policy goals.

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Representatives from Canada, the U.S., Britain and other western countries staged walkouts three days in a row whenever Russian officials spoke.

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“The G20 can’t function effectively with Russia at the table,” Chrystia Freeland, Canadian minister of finance, told a news conference with Ukrainian Finance Minister Serhiy Marchenko.

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“Russia does not have a place at the table of countries who have come together to maintain global economic prosperity,” Freeland said, adding Russia has violated longstanding international rules with its invasion of southern Ukraine. “You can’t be a poacher and gamekeeper at the same time.”

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Indonesia will be hosting November’s G20 summit where Putin and Ukrainian president Volodimir Zelenskyy have accepted invitations from president Joko Widodo.

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The decision to invite both leaders shows the delicate balance the Southeast Asian country is trying to make as the G20 host this year.

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Exchanged views over the phone with Russian President Vladimir Putin @KremlinRussia_E on the situation in Ukraine as well G20 cooperationUnderlined that the war must stop immediately & peace negotiations be given a chance. Indonesia stands ready to contribute towards this goal.

— Joko Widodo (@jokowi) April 29, 2022

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“I expressed my hope that the war can end soon and a peaceful solution through talks can progress,” Widodo said in a speech. “We understand that G20 can be a catalyst for global economic recovery.”

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1. Indonesia's president hopes G20 can bring 'peaceful solution' to end Ukraine war as Putin and Zelenskyy accept invites
2. 'Your war is making us poorer': Freeland says G20 cannot function with Russia at the table
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With additional reporting from Reuters and Bloomberg

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