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Business News Today: Latest Business News, Finance News

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G7 leaders open summit talks on Ukraine and West Asia as ...
AP- PTI · 2026-06-16 · via Business News Today: Latest Business News, Finance News
Japan's Prime Minister Sanae Takaichi, Germany's Chancellor Friedrich Merz, Italy's Prime Minister Giorgia Meloni, U.S. President Donald Trump, European Commission President Ursula von der Leyen, Canadian Prime Minister Mark Carney, Britain's Prime Minister Keir Starmer, European Council President Antonio Costa and French President Emmanuel Macron attend a working leader’s dinner during the G7 summit in Evian-les-Bains, France, June 15, 2025

Japan's Prime Minister Sanae Takaichi, Germany's Chancellor Friedrich Merz, Italy's Prime Minister Giorgia Meloni, U.S. President Donald Trump, European Commission President Ursula von der Leyen, Canadian Prime Minister Mark Carney, Britain's Prime Minister Keir Starmer, European Council President Antonio Costa and French President Emmanuel Macron attend a working leader’s dinner during the G7 summit in Evian-les-Bains, France, June 15, 2025 | Photo Credit: CHRISTIAN HARTMANN

Leaders at the Group of Seven summit of major industrialized nations face a packed agenda on their first full day Tuesday, including challenging discussions on ending Russia's war in Ukraine and addressing the Middle East crisis. Ukrainian President Volodymyr Zelenskyy will be in attendance at the invitation of host France.

The Ukraine talks come on the heels of US President Donald Trump's announcement of an agreement to end the 3 1/2-month-old US war against Iran. In recent weeks, the Iran conflict has overshadowed the war in Ukraine that Russian President Vladimir Putin launched more than four years ago.

Trump said he had good conversations on Sunday with both Zelenskyy and Putin. “Now that this (Iran) is finished, we're going to be focusing on that,” he said, speaking during a bilateral meeting Monday with French President Emmanuel Macron.

Macron said he'll seek to persuade Trump to continue supporting Ukraine and increase pressure on Russia to help reach a peace agreement. Hours before the start of the G7 summit, Russia fired hundreds of drones and dozens of missiles at Ukraine's biggest cities in a barrage that killed 11 people and set fire to a religious landmark.

Tuesday's discussions in the French spa town of Evian-les-Bains also include a work session focused on “ending crises and ensuring stability in the Middle East.” Leaders of Egypt, Qatar and the United Arab Emirates are to join the talks.

Trump has been frustrated by a lack of movement toward Ukraine-Russia resolution

The attacks on Ukraine's biggest cities came after Zelenskyy and Putin spoke separately by phone with Trump on Sunday, the U.S. leader's 80th birthday. The exchange suggests Washington hasn't given up on its diplomatic efforts to stop the fighting that followed Moscow's all-out invasion of its neighbor in 2022.

“The right negotiation is one in which Ukraine and Russia are at the table, but with Europeans and Americans present as well,” Macron said on French television.

While campaigning for a return to the White House, Trump claimed he could end the Russia-Ukraine war within 24 hours of taking office. He has since acknowledged it has proved much harder than he initially thought it would be.

Ukraine on Monday officially started European Union membership negotiations, launching a process that will require its government to commit to years of political reforms even as it fights a Russian invasion.

Ukraine sees EU membership as a security guarantee for a stable future once the war ends. Its best guarantee would be membership in the NATO military alliance, but the Trump administration insists that cannot happen, and others are wary of it joining while the war continues.

Iran war has been a flashpoint between Trump and European leaders

In recent months, Trump has had sharp disagreements with Macron, British Prime Minister Keir Starmer, German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni over his failure to consult them before the decision to go to war in Iran. Trump has threatened reprisals, including drawing down U.S. troops in all four countries, all members of the NATO military alliance, for their lack of support.

Despite those disagreements, the tone in Evian should be rather measured, as US allies seek rapid progress that could ease the economic impact of rising oil prices caused by the blockade of the Strait of Hormuz.

“I think a lot of great things are going to happen in the Middle East right now, and very importantly the oil is plummeting down and the stock market is shooting up like a rocket today,” Trump said.

Ahead of their meeting at the G7, the leaders of France, Germany, Italy and the United Kingdom issued a joint statement congratulating the United States, the Iranian government and the mediators on what they called a “diplomatic breakthrough.” Canada also signed the statement. The leaders said it was vital for detailed negotiations to take place and for the deal to be quickly implemented so the Strait of Hormuz can be reopened to tanker traffic.

Macron later said France and other Western partners are “ready to take action very quickly” to help reopen the strait peacefully. France and Britain have championed a mission to restore maritime security in the strait as soon as conditions allow.

Trump, however, appeared to downplay the need for a large international military deployment. “I don't think we're gonna need much help," he said during his meeting with Macron. “But I don't think it's a bad idea to have a ship or two up here from a few countries. You'd be a great country to do it." What's next on the agenda --------------------------- On Tuesday, in addition to a working session that includes Zelenskyy, Trump will participate in meetings that include sit-downs with the emir of Qatar and the president of the UAE before attending a cultural performance and a dinner with the other G7 leaders.

The G7 includes France, the United States, Canada, Germany, Italy, Japan and the United Kingdom. Other guest nations at this summit including Brazil, India, Kenya and South Korea were invited to participate in some discussions as partner countries alongside G7 members. (AP) AMS

Published on June 16, 2026