Leaders at this year's summit face a more hostile crowd due to the Iran war's economic impact. Inflation, energy supply disruptions, and concerns over AI supply chains and global growth are key issues. European nations hope to secure the strait with a deal, while the US focuses on trade and other policy areas.
President Trump faces a hostile G7 summit crowd due to the Iran war's economic fallout, including inflation and disrupted energy supplies. European leaders seek a deal with Iran and discuss reopening the strait, while economists warn of AI supply chain impacts and slower global growth.
Oil prices dipped slightly as investors monitored the fragile ceasefire in the Iran conflict and awaited the Trump-Xi Jinping meeting, despite ongoing supply disruptions and elevated prices above $100/barrel.
Bank of Russia lowered its key rate by 0.5 percentage points to 14.5% per annum — the eighth consecutive cut. Central Bank chief Elvira Nabiullina said the Middle East conflict remains an uncertainty factor that will slow global economic growth, increase logistical costs, and accelerate inflation globally.
