Days of G-7 are Numbered Because of Loss of Influence - Bloomberg

The days of the G-7 are numbered because of the loss of influence and reduction of the share of the world's countries in the group. This is reported by RIA Novosti citing Bloomberg agency.

"A half century after the crème de la crème of the world’s economies first gathered… the Group of Seven is on borrowed time. The share of the world it represents is declining — now accounting for less than 30% of GDP and 10% of the population, while its influence is also decreasing," the agency's material says.

As the agency notes, Russia's exclusion from the G-8 has probably put an end to the club's political ambitions, and U.S. President Donald Trump's attitude toward the G-7 undermines its economic goals. Bloomberg recalls that the U.S. leader waited until the last minute to confirm his participation.

"The invitation to the G-7 is not what it used to be," the agency emphasizes.

Internal conflicts began to appear in the club over time, Bloomberg writes, noting that there have always been those among the member countries who are more equal than others.

According to the agency, there are now doubts about whether the G-7 will issue a communiqué on the results of the next summit, which will be held in June. The agency recalls that in November 2024, the G-20 did not even manage to shoot a common photo because the world leaders 'lost' former U.S. President Joe Biden.

The G-7 summit will be held in Canada from June 15 to 17.

In May, Trump said that he considered the decision to exclude Russia from the G-8 club to be wrong.

The "Group of eight" format (G-8) has existed since 1998. In 2014, it was reduced to G-7 when, against the backdrop of the events in Crimea, the club members decided not to go to the regular summit in Sochi, but gathered without Russia in Brussels. Western countries accused Russia of interfering in Ukraine's affairs and imposed sanctions. Moscow retaliated, repeatedly rejected all the accusations and said that it was counterproductive to talk to it in the language of sanctions.