The Latest Breaking News from Group of Seven

The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow's ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming months.

Companies in the Group of Seven (G7) economies are failing to meet Paris Climate Agreement objectives, non-profit disclosure platform CDP and global management consultancy Oliver Wyman said on Tuesday, based on current corporate pledges to cut emissions.

Finance ministers from the Group of Seven industrial powers have pledged to put in place a system designed to cap Russia’s income from oil sales, an idea the nations’ leaders had promised to explore in June

The Group of Seven most industrialized countries said they plan to implement a price cap for global purchases of Russian oil — a measure the U.S. hopes will ease energy market pressures and slash Moscow’s overall revenues.

Japan holds the rotating presidency of the Group of Seven next year, meaning that not only will the summit be held in Hiroshima in May, but also ministerial meetings will be held throughout the nation.

Japanese Prime Minister Fumio Kishida instructed his cabinet ministers to continue diplomatic responses, including sanctions, against Russia, while backing Ukraine, by keeping close coordination with the Group of Seven nations, the finance minister said on Tuesday.

The foreign ministers of the Group of Seven (G7) nations on Wednesday called on Russia to immediately hand back full control of the Zaporizhzhia nuclear power plant to Ukraine.

Tensions are rising rapidly as China retaliates against Nancy Pelosi's visit. The White House summoned China's ambassador to protest what it called China's "irresponsible" actions since the visit.

PHNOM PENH / BEIJING -- The impact of U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan spilled over into a high-level dialogue between Japan and China. A meeting between the foreign ministers of Japan and China scheduled for Thursday in Cambodia was shelved at the last minute at…

China's foreign ministry said on Friday that it summoned Beijing-based Canadian diplomat Jim Nickel over Canada's participation in a statement issued by the foreign ministers from the Group of Seven (G7) nations.

China says it summoned European diplomats in the country to protest statements issued by the Group of Seven nations and the European Union criticizing threatening Chinese military exercises surrounding Taiwan