US President Joe Biden and his counterparts from the world's most industrialised nations have gathered at Elmau Castle in the Bavarian Alps, Germany, before they continue on to Madrid for talks with NATO partners.
Since the start of Russian attacks on Ukraine, the first in-person gathering of the world's seven leading economies has kicked off in Germany with leaders discussing the conflict-related food, and energy crises.
The three-day event, started on Sunday, is taking place at Schloss Elmau in the Bavarian Alps, with its agenda considered more urgent than ever as the conflict in Ukraine continues.
Having taken the G7 presidency from the UK in January, Germany has set a goal of “progress towards an equitable world.”
Under the theme, issues such as a sustainable planet, economic stability and transformation, healthy lives, and sustainable investments will be discussed.
As the UN has repeatedly warned of an "unprecedented global hunger crisis" as a result of the Russia-Ukraine conflict, the G7 leaders are expected to make new commitments to food security and tackling rising energy prices.
The United States has imposed unprecedented costs on Putin to deny him the revenue he needs to fund his war against Ukraine.— President Biden (@POTUS) June 26, 2022
Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia.
Focus on conflict repercussions
The situation in Ukraine would top the agenda with leaders promising more help to the country.
The world's seven richest nations have already announced a ban on Russian gold imports.
"Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia," US President Joe Biden said on Twitter.
"We will stand with Ukraine for as long as it takes. The negative global impact of Russia’s war will be front and centre of our exchanges at the G7," said EU chief Ursula von der Leyen.
Also, UK Prime Minister Boris Johnson made it once again clear that the government will continue to support Ukraine.
“Now is not the time to give up on Ukraine, they need the support and resolve of the G7 more than ever," he said on Twitter.
According to the UK government statement, the UK is ready to guarantee another half a billion dollars in loans to the Ukrainian government, bringing the total UK economic and humanitarian support to over $1.8 billion (£1.5 billion).
Now is not the time to give up on Ukraine, they need the support and resolve of the @G7 more than ever.— Boris Johnson (@BorisJohnson) June 26, 2022
The UK will continue to back Ukraine every step of the way, because we know that their security is our security, and their freedom is our freedom. pic.twitter.com/hXJ4jhCN1I
The German police, meanwhile, completed preparations to tackle possible demonstrations during the event.
More than 20,000 police were on duty for the security of the G7 leaders.
US President Joe Biden, German Chancellor Olaf Scholz, French President Emmanuel Macron, British Prime Minister Boris Johnson, Japanese Prime Minister Fumio Kishida, Italian Prime Minister Mario Draghi, and Canadian Prime Minister Justin Trudeau attend the summit.
In addition to the seven states, Indonesia, India, South Africa, Senegal, and Argentina are also invited.
Indian Prime Minister Narendra Modi is expected to speak at two sessions that include issues like the environment, energy, climate, food security, health, gender equality, and democracy.
Ukraine’s President Volodymyr Zelenskyy, the heads of state and government of partner countries, and chairpersons of the international organisations will also be involved via a video link.