The G8 Summit brings together the leaders of the world's major industrial democracies: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. The European Union also attends the G8 Summit, represented by the President of the European Commission and the leader of the country holding the Presidency of the European Council. At previous G8 Summits, leaders have discussed a wide range of International economic, political, and security issues. On January 1, 2006, Russia assumed the rotating presidency of the G8.
Official site of Russia's G8 Presidency in 2006
News from the Summit
St. Petersburg, Russia -- In advance of the first day of working meetings at the Group of Eight (G8) summit, President Bush met with British Prime Minister Tony Blair and French President Jacques Chirac July 16 to discuss the ongoing violence in the Middle East.
In his meeting with Blair, Bush said the United States is continuing to discuss the situation with the Israeli government and said all sovereign nations "have the right to defend themselves against terrorist attacks." At the same time, he urged restraint, saying Israel should "be mindful of the consequences," particularly the danger of harming innocent civilians and damaging the "fragile democracy" in Lebanon. (complete text)
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Leaders of the most industrialized countries plus Russia have endorsed "transparent, efficient and competitive" energy markets as the best way to enhance global energy security but acknowledge that they sometimes pursue different approaches to the challenge of ensuring it without harming the environment.
In a statement and action plan issued July 16 at their summit in St. Petersburg, Russia, leaders of the Group of Eight (G8) said that free, competitive and open markets are essential to the efficient functioning of the global energy system. (complete text)
Washington -- President Bush and President Vladimir Putin of Russia have announced a new international initiative to prevent nuclear terrorism and stop the spread of nuclear and radioactive materials.
The two leaders made the announcement July 15 in St. Petersburg, Russia, where they are participating in the July 15-17 summit of Group of Eight (G8) countries with their counterparts from Canada, France, Germany, Italy, Japan and the United Kingdom. (complete text)
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The Bush administration says it expects to receive an answer from Iran to the offer from France, Germany and the United Kingdom concerning its nuclear activities before leaders from the Group of Eight (G8) meet in St. Petersburg, Russia, July 15-17.
National Security Advisor Stephen Hadley said the offer by the three countries, collectively known as the EU-3, allows Iran “broad political, economic and technological benefits in return for practical guarantees that Iran's nuclear program will be solely for peaceful purposes,” and that Iran is expected to respond “[b]y the time the leaders meet later this week in Russia.” (complete text)
Despite the pressures of rising energy prices and continuing barriers to free trade, the overall strength of the global economy remains impressive, according to U.S. Treasury Secretary John Snow.
In a June 10 statement following a meeting of finance ministers in St. Petersburg, Russia, to prepare for the Group of Eight (G8) Summit in July, Snow pointed to a world economy characterized by high growth rates –- notably among a number of developing economies -- historically low levels of inflation, and no visible signs of major financial crises or recessions. (complete text)
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