U.S., Other Powers Kick Russia Out of G8

The Hague, Netherlands (CNN) -- President Barack Obama and other world leaders have decided to end Russia's role in the group of leading industrialized nations, the White House said Monday.

The move to suspend Russia's membership in the G8 is the latest direct response from major countries allied against Russia's annexation of Crimea.

"International law prohibits the acquisition of part or all of another state's territory through coercion or force," the statement said. "To do so violates the principles upon which the international system is built. We condemn the illegal referendum held in Crimea in violation of Ukraine's constitution.

U.S., Other Powers Kick Russia Out of G8

So now the G8 is the G7, as no one replaced Russia. Russia's response was that being kicked out of the G8 is no big deal - anyway, now it doesn't have to play by all of those silly rules the Westerners put up in their favor.

Russian Foreign Minister Sergey Lavrov says the following:

"G8 is an informal organization that does not give out any membership cards and, by its definition, cannot remove anyone," he said during a news conference. " All the economic and financial questions are decided in G20, and G8 has the purpose of existence as the forum of dialogue between the leading Western countries and Russia."

Lavrov added that Russia was "not attached to this format and we don't see a great misfortune if it will not gather. Maybe, for a year or two, it will be an experiment for us to see how we live without it."

That is an interesting response, kicking Russia out of the G8, and a summit in Sochi planned for next summer has been cancelled.

Well, maybe now Russia's economy won't collapse with the other industrialized nations later this year.

Understanding conections and linking truth.

I am sure you will enjoy the reading of the The History of the House of Rothschild


ROTHSCHILDS


I have gone toe to toe with my relations in the past. It happens.

This will help BRICS.

Russia is happy.

rickymouse
Well, maybe now Russia's economy won't collapse with the other industrialized nations later this year.

That's basically the line of thinking I have been following.

Now would be a good time to bring China in.
Replace Russia with China.Would this impact
Russia at all? The G8 would be back in business.

people are talking about how the chinese yaun is now becoming the worlds reserve currency..the usd has faded to that point
so...vlad is probably having a good larf right about now...

Following China's unwillingness to vote against Russia at the UN and yesterday's news that China will sue Ukraine for $3bn loan repayment, it seems Russia is returning the favor. Speaking at the Chinese Economic Development Forum, ITAR-TASS reports, the Chief Economist of Russia's largest bank stated that "China's Yuan may become the third reserve currency in the in the future."

www.zerohedge.com...

reply to post by darkbake

"International law prohibits the acquisition of part or all of another state's territory through coercion or force," the statement said.

Isn't that a pretty good description of what the EU did to the Ukraine?
They spent $7 million to stage a coup, then moved all the country's gold reserves to western central banks, as part of their annexation by the European Union.

reply to post by rickymouse


In a nutshell, what happens later this year? (If you don't mind me asking)

reply to post by Wookiep


I think the stock market will collapse, this will wipe out many people's pensions leading to a drop in the economy. This will be about the same as the one in 08 but the belief in the stock market will falter and it will keep going down. Most people will not reinvest in the market after that, the fad will die. Of course, all the top one percent will have withdrawn much of their money beforehand, the middle to upper middle class will lose the most. Drop a snowball down a steep hillside when the snow is just right and a ball of snow the size of a house can form destroying things in it's path. A gunshot can start an avalanche.

Belief is what the Economies are based off of, most people are led to believe in something that is not real.

When will this happen? Soon, some people who study economy can't believe this bubble lasted this long. The Republicans idea of how to do a controlled collapse was actually better, Obama just shuffled the problem down the line and weakened the countries ability to make it through the next hurdle by raising the bar too high.

reply to post by rickymouse


I see, I suspected it had something to do with the economy/collapse, thanks for the quick response. There have been many here on ATS and abroad who have been equally stumped as to how the U.S. economy has lasted this long, which can only mean manipulation.

I am no economist so I have no input on it other than to say we shall see...although I have no doubt war will be on the agenda if such is the case and I'm sure it will be a massive one, Russia would make sense. Seems like Russia may be trying to speed it up, I don't know if this will wait till the end of the year.

darkbake
Russian Foreign Minister Sergey Lavrov says the following:

"G8 is an informal organization that does not give out any membership cards and, by its definition, cannot remove anyone," he said during a news conference. " All the economic and financial questions are decided in G20, and G8 has the purpose of existence as the forum of dialogue between the leading Western countries and Russia."

Lavrov added that Russia was "not attached to this format and we don't see a great misfortune if it will not gather. Maybe, for a year or two, it will be an experiment for us to see how we live without it."

Emphasis mine...

So in a nutshell would Russia being removed from the G8 mean no more "peaceful" discussions between Russia and the "leading Western countries"?

Maybe I'm just misinformed, but this is scary stuff....