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The Group of Seven (G7) is an intergovernmental political and economic forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States; additionally, the European Union (EU) is a "non-enumerated member".
The 47th G7 summit was held from 11 to 13 June 2021 in Cornwall, England, during the United Kingdom's tenure of the presidency of the Group of Seven (G7), an inter-governmental political forum of seven advanced nations. [1] The participants included the leaders of the seven G7 member states, as well as representatives of the European Union.
The G7 Leaders' Statement was released after the meeting. [106] On 19 March 2023, the G7 Foreign Ministers condemned in the strongest terms North Korea's launch of yet another Intercontinental Ballistic Missile (ICBM) on 16th, which undermines regional and international peace and security. [107]
This is a list of the heads of state and heads of government of the Group of Seven nations at each G6, G7, G8 summit since the organisation's inception in 1975. The Group consists of the 6-7-8 largest industrialized democracies, Canada, France, Germany, Italy, Japan, the United Kingdom and the United States and formerly Russia.
The European Union (EU) is a member of the G7 (the G8, until Russia was uninvited in 2014).It has been dubbed its "8th member", [1] holds all the privileges and obligations of membership but without the right to host or chair a summit. [2]
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2022 inflation surge.
In June 2021, a meeting of the Group of Seven finance ministers in the leadup to the 2021 G7 Summit endorsed a global minimum corporate tax rate of at least 15% on the 100 largest multinational companies to disincentivize a race to the bottom by countries to attract such multinationals.
G7 summit meetings originated in an ad hoc gathering of finance ministers in 1973. Meetings of finance ministers, labour and employment ministers, environment ministers, foreign ministers and trade ministers and other ad hoc ministerial meetings [ 1 ] have taken place within the country designated for the annual G7 or G8 summit.