Vyacheslav Volodin, speaker of the Russian Parliament Duma, said the US has forced those countries to form the G8 with their own hands that are not participating in the US-sponsored sanctions. He presented a concept in which these countries, together with Russia, could form the new Big Eight (T8). In fact, this group had suspended Russia from this organization for annexing Crimea. The G-7 group includes Canada, the United States, the United Kingdom, France, Germany, Italy and Japan. These are the same countries which are strongly opposing Russia in Russia-Ukraine dispute and are imposing sanctions on it.
Russia joined to form the G-8 grouping in 1998, but the Tri-7 nations still meet separately. The first G8 meeting was held in Birmingham in 1998 and the last meeting was held at Lough Erne in Fermanagh last year. The report said the G-7 nations had isolated Russian President Vladimir Putin for annexing Crimea, barring Moscow from its meetings and coordinated economic sanctions.
Tr-7 condemned Russia’s annexation of Crimea in a brief document called The Hague Statement. The Hague Declaration after the Q-7 meeting states, “International law prohibits the acquisition of part or whole of the territory of another state through coercion or force.”
Russian President Vladimir Putin recently signed a bill making Crimea a part of Russia in the Kremlin in Moscow. In a Telegram post, Volodin included a table with IMF data on GDP for this conceptualized G8 purchase. Not only demonstrated power but also told it to be based on equality. The T-8 effectively changed to the G-7 in 2014 following the suspension of Russia. The group of eight countries in the Quarter 8 will be those that are not participating in the US-sponsored sanctions war – China, India, Russia, Indonesia, Brazil, Mexico, Iran, Turkey. This country is ahead of the old group by 24.4 percent in terms of GDP on PPP.
The economies of the G-7 members – the US, Japan, Germany, Britain, France, Italy and Canada – will worsen due to sanctions imposed against Russia. Following the launch of Russia’s military offensive in Ukraine in late February, the US, EU, UK and several other countries imposed harsh sanctions on Moscow, making Russia the most isolated country in the world. The breakdown of relations has created new points of development in the world. Faced with severe economic difficulties, America is doing everything to solve their problems at the expense of others.
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