Eliminate energy dependence on Russia forever. First with a boost to gas infrastructures, then with the conversion to hydrogen. It is the premier’s recipe Mario Draghiwhich from the G7 summit warns: “The energy crisis does not produce the return of populisms.
“Even when energy prices fall, it is unthinkable to go back to having the same dependence on Russia that we had. We must eliminate our dependence on Russia forever,” said Draghi, according to what is learned.
“In the current situation there are short-term needs that will require large investments in gas infrastructure for developing countries and beyond. We will have to make sure that they can then be converted to the use of hydrogen, a way to reconcile short-term needs with long-term ones, “Draghi said at a press point in Elmau during a break in the G7 proceedings.
“We must avoid the mistakes made after the 2008 crisis: the energy crisis must not produce a return of populism“Draghi pointed out, according to what is learned.” We have the tools to do this: we must mitigate the impact of the increase in energy prices, compensate families and businesses in difficulty, tax companies that make extraordinary profits “.
On the price cap, “putting a ceiling on the price of fossil fuels imported from Russia has a geopolitical objective as well as an economic and social one. We must reduce our funding to Russia. And we must eliminate one of the main causes of inflation”, added the premier Italian.
Draghi then returned to urge on unblocking of Ukrainian grain. “We need to accelerate our efforts on the food security front. It is essential to unblock the grain in Ukraine long before mid-September, when the new harvest arrives. We must give our full support to the United Nations, so that it can proceed faster in its work of mediation “, said the Prime Minister, again according to what is learned.
Push for renewables in developing countries. “This group of countries is the largest financier of growth aid projects in developing countries. We need to do more and we will do it in partnership with developing countries. Multilateral banks, especially the World Bank, will be mobilized even more, together with the private sector “, said Draghi again during a press point. We need “a great partnership effort with developing countries”, she added, emphasizing “energy and health care” among the many “areas” in which the projects will be concentrated. In addition to thinking about energy infrastructures that can be “converted to hydrogen”, Draghi also recalled the need to focus on “renewables”, also because “many developing countries and one continent, Africa, are particularly suitable for investment “in this field.
Biden: from the G7 600 billion for world infrastructure
The US, together with the other G7 countries, will allocate $ 600 billion between now and 2027 for investments in infrastructure around the world. American President Joe Biden said this when launching the partnership on the sidelines of the summit in Germany. The US will contribute $ 200 billion to the total over the next 5 years.
The ‘Partnership for Global Infrastructure and Investment’ “will deliver revolutionary projects to bridge the infrastructure gap in developing countries, strengthen the global economy and supply chains, and advance US national security.” The initiative was launched by Biden and other G7 leaders at the Cornwall summit to offer an alternative to China’s Silk Road.
“When democracies come together, there is nothing they can’t accomplish,” Biden said. “This plan it is not charity, it is an investment which will have a return for Americans and for all citizens of the world “.
FROM THE G7 THE MESSAGE OF UNITY AGAINST MOSCOW
From Elmau Castle, Germany, G7 leaders send a unity message at the Kremlin’s address, affirming a granitic compactness on the war front, even if the differences on oil and gas have not yet been resolved.
G7, the arrival of the heads of state at the castle of Elmau (Bavaria)
“We must stay together, in the G7 and in NATO”. Putin “hopes that someone in the G7 and NATO will split, but it hasn’t happened at all and will not happen”, said the president Joe Biden to Chancellor Olaf Scholz, opening the bilateral exchange this morning in Elmau, according to reports from some German media.
“We are united, we are together. This is our clear message to Putin. It is good that you are here, at the G7 summit, President Joe Biden,” said Scholz in a tweet.
On the table of the G7 is the price cap. Washington would have an interest in a cap on oil, but the issue will go hand in hand with that of gas prices, explains a source on the first day of the summit.
For now, a source in the US administration reports, among the G7 leader in Germany “there has not been a very extensive discussion on the price cap at the price of oil”. The theme, he explains, will be “discussed in detail by the Sherpas”.
Among other themes on the table, the lighthouse is on energy and inflation, Biden has announced plans to ban the importation of Russian gold. But the president of the EU council Michel explained that EU countries must be prevented from becoming collateral victims of sanctions. And he called for an agreement for the exit of the grain from the Black Sea ports.
Before the start of the afternoon session of the summit. G7 leaders took a walk in the gardens of Elmau Castle and family photos. Along the way, the Italian prime minister Mario Draghi he spent a long time talking with French President Emmanuel Macron.
Joe Biden he walked chatting with the president of the EU commission Ursula Von der Leyenwho after the family photo also talked to Macron and Canadian Prime Minister Jastin Trudeau and the landlord, Olaf Scholzwho on the way had the opportunity to meet with British Prime Minister Boris Johnson.
British Prime Minister Boris Johnson and French President Emmanuel Macron they see a chance to “reverse the course” of the war in Ukraine, reports Downing Street after the bilateral meeting between the two at the Elmau G7.
Ukraine, Michel at the G7: ‘More military and financial aid from the EU’
VON DER LEYEN: “BY KIEV’S SIDE UNTIL WHEN YOU NEED IT”
“We will be alongside Ukraine for as long as necessary. The negative global impact of the Russian war will be at the center of our exchanges at the G7.” The president of the European Commission Ursula von der Leyen wrote on Twitter.
Source: Ansa
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