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G7

  • IASbaba
  • December 13, 2021
  • 0
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G7

Part of: Prelims and GS-II – International relations

Context The Group of Seven (G7) economic powers told Russia to “de-escalate” its military buildup near the Ukrainian border, warning that an invasion would have “massive consequences” and inflict severe economic pain on Moscow.

About G7

  • G7 stands for “Group of Seven” industrialized nations. 
  • It used to be known as the G8 (Group of Eight) until 2014 when Russia was excluded because of its annexation of Crimea from Ukraine.
  • Countries: United States, the United Kingdom, Germany, Canada, Japan, France and Italy. 
  • The G7 does not have a formal constitution or a fixed headquarters.
  • It is an informal bloc and The decisions taken by leaders during annual summits are non-binding.
  • Generally every member country hosts the summit once every 7 years

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