British Prime Minister Rishi Sunak has said that the Western allies are "steadfast" in their support for Ukraine, warning Vladimir Putin "we're not going away". During a round of interviews at Hiroshima’s Seifukan tea house, Sunak stated that the Russian President needs to understand this message, and told Putin that they cannot "outlast us in this conflict". The UK is introducing a ban on Russian diamonds, which was worth more than £3bn ($4.29bn) to Russia in 2021, and also prohibiting imports of Russian-origin copper, aluminium and nickel, hoping other countries will follow suit. The move is aimed at applying further pressure on Putin and his supporters, and the three-day summit will also discuss military and economic support for Ukraine, economic stability, and the security of Taiwan in the face of Chinese aggression. Sunak will also visit the A-bomb dome ruin with his Japanese counterpart to reflect on the atomic devastation in the Second World War.
As Beijing's influence grows, Chinese leader Xi Jinping has pledged to build more railway and bolster China's oil and gas footing in Central Asia. Speaking at a summit attended by leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, Xi said there was a need to "expand economic and trade ties". The move follows China's ongoing creation of trade-related infrastructure in the former Soviet states under its Belt and Road Initiative. The projects have alarmed Russia, which views the region as its sphere of influence, but officials from Central Asia see China as an important market.
Investors in the US are expecting a deal to be reached to lift the country's debt ceiling, leading to a sell-off of tech and growth stocks and a shift towards other market sectors. Heavyweights such as Alphabet and Amazon have been attractive to investors due to their strong balance sheets and predictable cash flows, but the fear of a budget crisis has meant the broader market has lagged behind. Negotiations in Washington had led to concerns about government defaults, but investors expect an agreement through until September to be forthcoming.
Leaders from the G7 nations are set to unleash new sanctions against Russia as they meet for a summit in Japan, though Germany’s Chancellor Olaf Scholz urged for “pragmatic measures” to avoid circumventing sanctions imposed on Moscow. G7 leaders will discuss the possibility of an international peace summit over Ukraine at the meeting. The EU has suggested tracking the trade in Russian diamonds with a view to imposing restrictions at a later stage, while the UK has announced a ban on Russian diamonds and imports of metals from Russia in support of Ukraine. Meanwhile, US President Joe Biden recently met Japanese PM Fumio Kishida to discuss ways of strengthening defence cooperation and counteracting coercive behaviour by China, with whom divisions are appearing within the G7, though leaders are expected to show a unified front regarding a common approach to dealing with the country based on shared values.
G7 leaders gather on China’s doorstep to seek unified response to Beijing’s threat
CNN
23-05-19 04:17
The G7 summit, which has convened in Hiroshima, will focus on the dominant issue of China and Russia, with the G7 nations seeking to present a united approach to China’s increasing economic and military might and Russia’s activities in Ukraine. The economic security of the G7 nations is of particular concern in the face of China’s assertive demonstrations of economic coercion. China has already bolstered its ties with Russia, and is attempting to drive a wedge into the transatlantic alliance, which has concerned officials in Washington. Yasuhiro Matsuda, an international relations professor at the University of Tokyo, suggests that the G7 meeting constitutes a platform for the leaders to discuss how to deal with these issues. However, a different approach is required considering members’ different concerns and relationships with Beijing and in view of their strong economic links to China. It remains to be seen how the summit will help to recalibrate the G7 approach toward China, but it is anticipated that leaders will work toward diversifying supply chains and reducing reliance on China.
China has warned that the US should not introduce geopolitical games to the South Pacific after it was announced Secretary of State Antony Blinken would visit Papua New Guinea. This comes after President Joe Biden cancelled his own plans to visit Papua New Guinea and take part in a meeting of leaders from the so-called Quad partnership. The US was particularly concerned last year after China signed a security pact with the Solomon Islands which allowed for the presence of Chinese naval ships and security forces.
China has warned against the US playing "geopolitical games" in the South Pacific. At a press conference on Friday, the Chinese Foreign Ministry spokesperson, Wang Wenbin, said that while China did not oppose "normal exchanges and cooperation between relevant parties and Pacific Island countries, we also oppose any introduction of any geopolitical games into the Pacific Island country region." The comments came after US Secretary of State, Antony Blinken, announced plans to visit Papua New Guinea next week amid escalating tensions between the US and China over increasing Chinese influence in the Pacific region.
The Group of Seven (G7) summit in Hiroshima is expected to highlight the Ukraine war, the growing power of China and the threat to Taiwan. Leaders from India, South Korea, Indonesia, Vietnam and Australia will also be attending the summit, which opens today. Discussions will also focus on matters involving supply chains, economic and energy security. The Indian presence at the summit is expected to create a focus on the developing world within the G7, while the recent overtures of Russia and China towards Central Asia are also set to feature prominently. Yesterday, the G7 leaders released a statement ahead of the summit stressing their support for Ukraine which “will not waver”, and detailing “new steps” to be taken to ensure Russia's aggression fails. Sanctions imposed on Russia are also likely to be discussed, as well as their impact on trade of agricultural, medical and humanitarian products.
Global shares reached a one-month high after a boost on Wall Street. The dollar made significant gains, resulting in the decline of other major currencies, including the euro. Hopes for a deal over the US debt ceiling that should manage to avoid a calamitous default were reflected in the markets. Investors will watch for signals across various markets today, including Federal Reserve interest rates, as the US government faces the threat of sliding into a recession and possible downgrading of Treasury debt.
South Korean President Yoon Suk Yeol plans to meet with South Korean survivors of the 1945 Hiroshima atomic bombing during his visit to Japan for the G7 summit. This will be Yoon's first meeting with the survivors since taking office a year ago. His spokesman says that this meeting shows "President Yoon's commitment to resolving past history issues, while improving relations for the future generations of both Korea and Japan". During his three-day trip, Yoon will also join the summit as an observer and hold bilateral talks with US President Joe Biden and Japanese Prime Minister Fumio Kishida.
US military officials are no longer confident that a drone strike killed a senior al-Qaeda leader after the dead man's family claimed he was innocent. Lotfi Hassan Misto was believed to have been killed by an MQ-9 Predator drone that had been surveying his home town in north-west Syria for two weeks. The family claimed that he was tending to his sheep when he was killed and that he had no ties to terrorist organisations. There is now doubt inside the Pentagon as to who was killed in the attack. Last year, President Joe Biden vowed to reduce the risk of killing unintended targets and promised greater transparency when unintended killings happen. In 2021, a strike during the US evacuation of Afghanistan that officials first claimed took out a suicide bomber actually killed ten civilians, including seven children.
US President Joe Biden was captured nearly tripping down a set of stairs at the G7 summit in Japan. Footage shows him fumbling his footing as he walked down a small set of stairs at the Itsukushima Shrine in Hiroshima, Japan. He has been captured several times tripping or stumbling before throughout his presidency, raising concerns about his age. However, the White House released a health summary report from Mr Biden’s official doctor, Kevin O’Connor, in February to prove Mr Biden is in good health. The G7 members are expected to speak about Russian sanctions and provide support to Ukraine as well as climate change and China’s growing military buildup.
A police officer from the Metropolitan Police Department has been arrested on charges of leaking confidential information to a leader of the far-right Proud Boys extremist group. The officer, Lt. Shane Lamond, allegedly warned the former Proud Boys national chairman, Enrique Tarrio, that law enforcement had an arrest warrant for him related to the destruction of a Black Lives Matter banner in the nation’s capital. The indictment against Lamond alleges that he also obstructed the investigation after members of the Proud Boys destroyed the banner, for which Tarrio was eventually arrested two days before the Capitol riot on January 6, 2021. Lamond faces one count of obstruction of justice and three counts of making false statements.
The G7 is holding its annual summit in the Japanese shrine city of Hiroshima where the talks are set to focus on the growing influence of China, the Ukraine crisis and the ongoing threat to Taiwan. G7 leaders, however, are keen to avoid confrontation with China over the issue of its territorial claims that are threatening the freedom of navigation in the South China Sea. Instead, the leaders are set to extend the promise of G7 cooperation. Alongside the G7 nations, Thailand, Papua New Guinea, Vietnam, Laos, Indonesia, and the Philippines have been invited as guests, symbolising Japan's ongoing interest and focus on Southeast Asia. In addition, India and South Korea, which have previously pressed Japan to address issues related to Japanese Imperial Army’s conscripting of sex slaves for the military during World War II, will also take part, together with the EU.
Leaders of the Quad group, which comprises the US, Japan, Australia, and India, will meet on the sidelines of the G7 summit in Hiroshima Saturday. The decision was made after US President Joe Biden postponed a visit to Australia due to ongoing debt limit talks in Washington. Biden thanked the other Quad leaders "for their flexibility" and looks forward to rescheduling his trip, according to a statement from Karine Jean-Pierre, a White House press secretary. Australian Prime Minister Anthony Albanese and Indian leader Narendra Modi, who are attending the G7 summit as guests, will join the quad meeting, which will focus on the group's progress. The summit will discuss enhanced cooperation on digital technology, infrastructure, submarine, and maritime awareness.
In a diplomatic victory for Ukraine's President Volodymyr Zelenskyy, the US will allow allies to supply F-16 fighter jets to Ukraine, with the US Military assisting in training Ukrainian pilots to fly the aircraft. President Biden has said the US will offer support to a joint effort to train Ukrainian pilots, before later equipping them with F-16s, delivering one of the most significant upgrades to Ukraine's military after last year's full-scale Russian invasion. Biden made the announcement to G7 leaders. Kiev has been working to construct a coalition of nations ready to supply F-16s and has now garnered support from the UK, France and the Netherlands.
This move will strengthen Ukraine’s depleted air force and boost air defence capabilities, allowing ground operations that challenge Russia’s tactical air supremacy over the frontline. The Netherlands, which is phasing out F-16s, could be a major supplier to Ukraine. Belgium and Denmark also have F-16s. The training will take place in Ukraine and Europe, and potentially other countries may be involved. The process could take months before jets can fly over Ukraine’s skies. Meanwhile, with the increasing probability of a full-scale conventional war, Russia may soon sign a defense pact with Belarus to boost its security.
US Treasury Secretary, Janet Yellen, has warned that the US is in danger of running out of money to pay its bills come June 1st, since the US Congress has not raised or suspended the nation’s current $31.381tn debt ceiling. US President Joe Biden and congressional Republicans continue to negotiate with a growing sense of urgency as his return to the US on May 21st approaches. Congress has raised or suspended the country’s debt ceiling over 100 times; however, polarisation in US politics has made the deadlock less unusual than in previous events.
The US will support providing advanced warplanes to Ukraine, including F-16s, and back training Kyiv’s pilots, President Joe Biden has said. The planned move is a breakthrough for Kyiv, which previously struggled to persuade Western allies to provide hi-tech aircraft. The UK’s Prime Minister, Rishi Sunak, and Dutch Prime Minister, Mark Rutte, both have pledged to build an “international coalition” that will provide fighter aircraft support for Ukraine. French President Emmanuel Macron has offered to train Ukrainian pilots, but has ruled out sending warplanes to Kyiv. Previously, US opposition to providing advanced planes centred around their expense.
Talks between US House of Representatives Republicans and President Biden’s administration on raising the debt ceiling stalled, leaving little time for agreement before the federal government risks catastrophic default. The Treasury Department warned it may be unable to pay its bills by 1 June. Representative Garret Graves said the talks stopped until further progress is made, but the White House remained optimistic a deal could still be reached. Democrats have raised concerns over work requirements attached to the talks, delaying negotiations. Failure to resolve the issue would impact US stocks, Treasury yields, and the dollar.
Leaders of the G7 countries pledged to face Russia’s “illegal, unjustifiable and unprovoked war of aggression against Ukraine” and reassured their support for Ukraine will “not waver”. The countries agreed to tighten sanctions and export controls targeting Moscow, including restrictions on exports of industrial machinery, tools and technology that could be useful to Russia’s war effort and limiting Russian revenues from trade in metals and diamonds. Meanwhile, G7 leaders also called for a “world without nuclear weapons,” urging Russia, Iran, China and North Korea to cease nuclear escalation and embrace non-proliferation.
