Russia 'Suspended' From G-8, Says French Foreign Minister
G-8, the group of eight leading economies has suspended Russia's participation in the club, France's Foreign Minister announced.
Die Welt's website quotes Laurent Fabius as saying on Europe-1 radio that "all the other countries, the seven leading countries, will unite without Russia". He also shared the news on his Twitter account.
Fabius, however, made clear that Russian President Vladimir Putin is still invited to D-Day's 70th anniversary commemorations in France on 6 June.
Preparations for an upcoming G-8 summit that was scheduled for June in Sochi had already been cancelled by the US, Germany, France, the UK, Japan, Italy, and Canada.
Back in 1998, Russia was accepted by these seven countries into their club of industrialized nations, which had previously been known as G7 since 1975.
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EU US sanctions are so useless it is a joke.
The people of the Crimea had a democratic referendum and decided to join the Russian Federation.
The EU and the US are not going to suffer financially, so they will make noise for a week or two and then the issue will disappear from Western media as the West will not want to be reminded of its failure to keep the Crimea under its boots.
it is always a delight to read profound analysis on world economics. I also learned that Russia does not need Europe. I am sure China will be delighted to receive all the wonderful oil. So they can produce even more for the 160 Mio. Russians. The 500 Mio. Europeans since they no longer have oil for their production also have no money to buy Chinese goods. What a wonderful world.
Contrary to what you think, Lanita, is the west dependant on Russian supply for gas and oil.
And this supply is heavy threatened by Chinese demand. Russia is in fact doing Europe a favour.
They could easily dump Europe and export everything to Asia. Europe atm is getting the lower quality variant of oil, best quality goes almost exclusively to China.
So you can think and believe what you want, if you and your stupid governments are not going to be a bit more polite you can prepare for waiting lines in the gas station, limited delivery of gas in winter and closing business because no more gas to run on.
Sad but true.
Sorry to throw cold water on your party Lana but I do believe last time I checked Russia was dependent on the West to receive its only exports (oil & gas) and last time I checked the economy there wasn't doing too well. I think Russia won't be laughing too hard at the isolation and sanctions that will accompany this adventure and miscalculation ......but who am I to judge.....we'll know shortly........