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
