Preparation for an economic attack on Russia: Biden said in NATO summit - take Russia out of G20; It would cut him off from the world's biggest economy

Posted on 25th Mar 2022 by rohit kumar

US President Joe Biden addressed the NATO summit in the Belgian capital Brussels on Thursday. Biden said Russia should be pulled out of the G20 group of industrialized and developing countries in response to the attack on Ukraine. Due to this, Russia will be cut off from the world's major economies.

 

He said Ukraine should be allowed to participate in NATO meetings if the member states do not agree to the removal of Russia. Biden also said that NATO would respond if Putin used chemical weapons in the war against Ukraine.

 

G20 share in international trade 75%

 

G20 countries account for about 75% of the world's international trade. Two-thirds of the world's population lives here. Russia is already reeling under economic sanctions imposed by the West. Previously, it has been pulled out of the G8 after Russia annexes Crimea in 2014.

 

If Russia is pulled out of the G20, it would be a powerful symbolic move that would prevent Russia from sitting alongside the world's largest economies.

 

NATO most united today

 

Biden said NATO has never been more united than it is today. Putin is getting the exact opposite of what he intended after the attack on Ukraine. America is ready to welcome 100,000 Ukrainian refugees.

 

What is G20?

 

It is a grouping consisting of 19 member states and the 20th European Union. Economic matters are mainly discussed in the G20 summit held every year. The group includes Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, and the US.

 

All these member countries together make up more than 80% of the world's GDP. The G20 is seen as an extension of the G7, a grouping of the world's most powerful countries. The G7 has France, Germany, Italy, Japan, the UK, the US, and Canada.

 

Also Read: The world is angry then why did Chinese Foreign Minister Wang Yi go to Kabul to meet the Taliban

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