NATO, G7, EU Crisis Meetings
In Brussels, Belgium, leaders of G7, NATO, and the European Union have gathered for the NATO summit. Back-to-back emergency meetings took place on 24th March with the aim of drawing plans to increase pressure on President Vladimir Putin as the Russian invasion of Ukraine continues.
- The US is trying to push its allies to issue fresh sanctions on Russia.
- Due to the sanctions the Russian economy has already been crippled.
- The western countries have unified in confronting Russia after it started invading Ukraine. Whether this unity will survive or not is a matter to be seen as the cost of war is affecting the global economy.
- The energy crisis has intensified due to the war. This is a hot topic at this meeting as the leaders from Portugal, Spain, Greece, and Italy are hoping to get a favourable response.
- The NATO Summit will also be looking to increase the security of the Eastern front.
- NATO summit will also be discussing the usage of biological and chemical weapons by Russia.
Boycotting of Russian energy supplies
Olaf Scholz, the German Chancellor, has reacted negatively to calls for boycotting energy supplies from Russia. Doing so would cause significant damage to Germany’s economy. The European Union’s executive arm urged the United States to increase liquefied natural gas deliveries to Europe so that the European Union (EU) could reduce dependence on energy supplies from Russia.
Effect of boycotting Russian energy supply
90 percent of the EU’s natural gas that is used to heat homes, generate electricity, and supply industry is imported with 40 percent being supplied by Russia. Huge quantities of oil are also imported from Russia. Hence, boycotting Russian energy supplies will be very harmful to the European Union.
The NATO eastern flank countries will be looking to discuss the ways European nations and the US can help to deal with the concerns regarding the refugee crisis due to the war.
Category: Summits and Conferences
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