A disturbing G7 decision (Opinion)
- After Russia’s takeover of the Ukrainian province of Crimea, they were not surprised with the G7 decision of suspending them from informal grouping called the G8, even though they have been members since 1998 to strengthen East-West relations.
- In the Hague Declaration (global Nuclear Security Summit) G7 Leaders cancelled their G8 meeting in Sochi, Russia, and announced they will meet in Brussels in G-7 format.
- They threatened “coordinated sectoral sanctions” if Moscow continues to escalate its military intervention in Ukraine.
- Russia intents not to escalate military force in eastern and southern Ukraine, and if situation worsens, Ukrainian-Russian contacts will occur at the foreign ministry and defence ministry levels.
- G7 has accepted the appointment of Ukrainian ministers with neo-Nazi and anti-Semitic backgrounds.
- NATO states that Russia plans a Crimea-type move for autonomous Moldovan territorial unit of Transnistria, where Russian is official language widely used. Moscow rejected 2006 poll showing that 96% of the population favored joining Russia.
- NATO has been justifying its existence since Soviet Union collapsed. The Warsaw Treaty Organisation (Warsaw Pact) was dissolved in 2004 but NATO still lingers on.
- EU countries buy Russian oil and natural gas through hard currency. Visa and MasterCard services have resumed to customers of Russia’s SMP Bank.
- Anti-Russian sanctions means western oil corporations welcome British Prime Minister for more fracking which will be highly controversial activity in his country which may be disliked by Financial bodies.
- The G7 move is less principled, and western legislatures must scrutinize their respective executives over their handling of Ukraine crisis.
- Warsaw Pact
- Ukraine Crisis
- Hague Declaration