Rising costs — driven in part by the Russian invasion of Ukraine — will be central to Sunday’s agenda, where leaders will simultaneously work to sustain their pressure on Moscow while also looking for ways to ease price spikes that have cost them each politically.
That could prove a challenging task. Bans on Russian energy have contributed to a spike in global oil prices, yet leaders are loathe to ease up on sanctions they believe are having an effect on Russian President Vladimir Putin’s economy. One area they have announced action: Banning imports of new Russian gold.
“Here at this meeting of the G7, as well as at NATO, we will continue to do, collectively, everything we can to make sure that the Ukrainians have what they need in their hands to repel the Russian aggression,” US Secretary of State Antony Blinken said in an exclusive interview with CNN’s “State of the Union” on Sunday.
Blinken pointed to the import ban on Russian gold, existing…