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Four takeaways from Biden’s trip to the G7

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June 29, 2022
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Four takeaways from Biden’s trip to the G7


But exactly how long that might be remains an open question — and a source of anxiety — for leaders now departing the Bavarian Alps after a two-day summit of the G7.

Here are four takeaways from Biden’s first major summit of his latest international trip:

The war in Ukraine has brought Western leaders together in condemning Russia and applying punishing sanctions. But as the war enters its fifth month, the economic consequences of isolating Russia are being felt in high gas prices, a major political liability. Meanwhile, momentum in the war appears to be favoring Russia.

Reversing those parallel trends was the principal objective of this year’s G7 summit. Leaders committed to new security assistance for Ukraine, including a new missile defense system from the United States, the same model used to defend the airspace in Washington, DC. Ammunition and radar systems are also expected in the latest shipment.

But another shipment of arms isn’t likely to bring an end to the war. Without a clear path to a battlefield victory, leaders have been left wondering how much longer the fighting will last — and, by extension, how much longer the economic consequences of the war will drag down the global economy.

Zelensky’s remarks to the group on Monday provided at least his view of the matter: He wants the war ended by the time winter rolls around. He pressed the group to support a major military offensive to take back the initiative against Russia.

“Zelensky was very much focused on trying to ensure that Ukraine is in as advantageous a position on the battlefield as possible in the next months as opposed to the next years, because he believes that a grinding conflict is not in the interest of the Ukrainian people,” US national security adviser Jake Sullivan said after the meeting.

Leaders work to ease the pain of the war while keeping pressure on Russia

The West’s withering set of sanctions on Russia has taken a dramatic toll. On Monday, the country defaulted on its foreign debt for the first time since the Bolshevik revolution more than a century ago.

The White House said the default showed the power of Western sanctions imposed on Russia since it invaded Ukraine. At the G7 this week, leaders slapped on new measures, including a ban on importing new Russian gold.

At the same time, the sanctions have inflicted pain on Americans through higher gas prices, an effect of global bans on importing Russian energy.

Targeting Russian energy has been a point of contention since the start of the war. And the complexities of going after one of the world’s largest producers have been borne out in the following months. As Americans and Europeans are suffering high gas prices, Moscow is still reaping massive revenues from its oil exports — due in part to the skyrocketing prices.

A plan from US Treasury Secretary Janet Yellen seeks to reverse that. Over the past several months, she has pressed G7 nations to apply a price cap on Russian oil, limiting the amount of money Russia makes from the places it is still exporting.

Leaders agreed to the idea at the summit this week. But the precise mechanism for doing so remains undecided. Officials said they were confident Western…



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