G7 - Group of Seven

Q1. What is the G7? Who are the Member nations?

Established in 1975 in response to the oil crisis, the Group of Seven is an
intergovernmental political and economic forum consisting of Canada,
France, Germany, Italy, Japan, the United Kingdom and the United States;
additionally, the European Union is a "non-enumerated member". The
aggregate gross domestic product (GDP) of G7 member states (not including
the EU) makes up about 44 percent of the global economy in nominal terms,
down from nearly 70 percent three decades ago.

Q2. When was it established?

Russia belonged to the forum from 1998 through 2014, when the bloc was
known as the Group of Eight (G8), but it was suspended following its
annexation of Ukraine’s Crimea region.

Q3. When was the last summit held and what were its objectives?
The G7’s future has been challenged by continued tensions with Russia and,
increasingly, China, as well as by internal disagreements over trade and
climate policies. In a sign of renewed cooperation, the G7 reached a historic
agreement ahead of its 2021 summit to overhaul the global rules for corporate
taxation. More recently, the G7 has imposed coordinated sanctions on Russia
in response to its war in Ukraine, including a cap on the price of Russian oil.
 G7 - Group of Seven

The group also launched a major global infrastructure program to counter

China’s Belt and Road Initiative. Those issues, along with climate change,
food insecurity, artificial intelligence, and nuclear weapons, led the agenda at
the 2023 summit in Hiroshima, Japan.

Q4. What is the agenda of the G7?

The G7 agenda focuses on global economic and security issues, climate
change, sustainable development, and health. It aims to promote cooperation
among the world's leading industrialized nations to address common
challenges and foster international stability and prosperity.