LIVE: G7 finance ministers arrive for Day 2 in Paris
TL;DR
G7 finance ministers convened in Paris for Day 2 to address global economic imbalances, Ukraine financing, and energy security, amid disagreement over U.S. sanctions relief on Russian oil and progress on critical minerals partnerships.
🌐 Global Economic Imbalances & Multilateral Engagement 2 insights
G7+ Format Expansion
Ministers met in an expanded G7+ format including Kenya, India, South Korea, and Brazil to discuss global economic imbalances requiring broader international cooperation.
China Engagement Strategy
Officials emphasized the need for meaningful engagement with China on trade imbalances while working to preserve the rules-based international order amid geopolitical fragmentation.
🇺🇦 Ukraine Support & Russia Sanctions Tensions 2 insights
EU €90 Billion Ukraine Loan
The EU confirmed moving forward with a €90 billion support loan for Ukraine with policy conditionality attached, urging other G7 partners to contribute their fair share for 2025-2026 financing.
U.S. Sanctions Relief Disputed
Secretary Bessent informed ministers of a second 30-day extension easing sanctions on Russian oil, which the EU opposed, arguing this is not the time to ease pressure while Russia benefits from high fossil fuel prices.
⚡ Energy Security & Critical Minerals 3 insights
Critical Minerals Partnership Progress
French presidency efforts to advance critical raw materials partnerships were acknowledged, though officials cautioned that developing these supply chains requires adequate preparation and time.
Energy Supply Redesign
Canada positioned itself as an 'energy superpower' ready to double down on oil, gas, and critical mineral exports to allies, addressing what the IEA called the largest energy challenge in generations.
Strait of Hormuz Concerns
Ministers discussed redesigning energy systems due to disruptions in the Strait of Hormuz, emphasizing the need for stable, predictable supply chains with partners in Europe and Asia.
🤖 AI Governance & Technology Access 2 insights
Anthropic Model Accessibility
The European Commission confirmed discussions with U.S. authorities and Anthropic regarding AI model risks, opportunities, and ensuring controlled international accessibility outside the U.S.
Security Safeguards
U.S. administration provided reassurances that AI model access would be extended internationally but remain controlled to prevent the technology from reaching 'wrong hands.'
Bottom Line
G7 ministers must balance immediate economic pressures—such as managing energy prices through targeted sanctions relief—with long-term strategic priorities including Ukraine financing, critical minerals supply chain security, and governance frameworks for AI proliferation.
More from Reuters
View all
LIVE: Carney tours base in Halifax, speaks before departing for NATO Summit
Canadian Prime Minister Mark Carney announced the selection of Germany's Thyssenkrupp Marine Systems (TKMS) to supply up to 12 submarines—the largest defense procurement in Canadian history—accelerating delivery timelines by five years while securing tens of billions in mandatory domestic industrial investment and asserting Arctic sovereignty ahead of the NATO summit.
LIVE: Court to rule on whether to try alleged Charlie Kirk shooter
A judge establishes strict courtroom protocols for the preliminary hearing of Mr. Robinson, accused in the Charlie Kirk shooting case, outlining procedures to handle graphic evidence while four law enforcement officers prepare to testify under a probable cause standard.
Inside the White House: How Reuters reporters cover Trump | On Assignment
Reuters White House correspondents describe covering the Trump administration as navigating a 'reality show' designed to distract, where access is restricted to friendly outlets, messaging is often contradictory, and reporters must balance constant fact-checking with succinct questioning to extract truth from performance.
Inside the White House: How Reuters reporters cover Trump | On Assignment
Reuters White House correspondents detail the challenges of covering the Trump administration's second term, including restricted press pool access favoring friendly outlets, contradictory messaging requiring rigorous fact-checking, and a high-volume news environment designed to distract, while emphasizing their strategy of separating performative theater from consequential facts.