Saturday, December 14, 2024
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Out of G8

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IN a dramatic development, the US and its close allies expelled Russia from the group of eight industrialized democracies. It was to punish President Vladimir Putin for his annexation of Crimea. Tougher sanctions may follow if Putin escalates aggression against Ukraine. The G7 had a meeting on the sidelines of a summit about nuclear security to form a united front against Moscow. But the members refrained from imposing sanctions on vital sectors of the Russian economy: Energy, Banking and Finance, Engineering and Armaments industry. Should Russia send its forces to the Ukrainian mainland, severe punishment awaits it, the G7 indicated in its Hague declaration. However, some critics feel that the expulsion of Russia is just symbolic. They think that the allies are not keen on punitive steps against Russia. Germany and some other allies had earlier opposed the expulsion. Germany relies on Russia for oil and gas.
Russia joined the group in 1998 to signify East and West cooperation. The recent steps raise fears of a renewal of the Cold War atmosphere. The G7 countries have decided to boycott a G8 meeting at Sochi in Russia and propose to meet in Brussels. The move seems an appeal to Russia to change course. A Putin spokesman has, however, said that Russia wants to continue contacts with other members of G8. But he ruled out a dialogue at this stage. Meanwhile, Ukraine has pulled back its forces from the Russian border. Peace may not be totally unattainable.

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