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A global price cap on oil action by prohibiting insurance companies from insuring shipping companies that transport oil at a price set below discounted Russian oil. The idea was first discussed by president Mario Draghi of Italy with president Biden. Biden thinks this is a good, so does Mr. Macron of France. The questions remain on how this would be implemented in practice.

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NATO Summit in Madrid comes right after the G7 Summit. Just days before the NATO Summit in Madrid a number of important steps are taken. The NATO Response Force is increased from 40,000 which lacked deterrence to 300,000. Additional military spending of $100 billion announced will increase spending by the amount of the entire Russian defense budget. Turkish backing for Finland and Sweden to join NATO was negotiated bringing more capabilities and a long border with Russia in the Baltic into the picture. The G7 Summit will be seen as setting the framework of close cooperation and understanding of leaders of western and eastern democracies in the world including Africa, Latin America and Asia. Invited were leaders of South Africa, Argentina, India and Indonesia, major parts of the Free World in the 20th century and now into the 21st century. NATO Summit in Madrid adds to these leaders the leaders from Australia and South Korea. The idea here is to address the changing situation in Asia with China's aggressive posture in the Himalayas, the South China Sea, and with Taiwan, and the close cooperation with Russia during its invasion of Ukraine. ...

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The meeting of G7 leaders and of leaders from India, Indonesia and Argentina, South Africa, ended with a sense that economic sanctions the preferred tool against the Russian invasion are not working after 3 months. Discussions with India, Indonesia and other poor countries show the need for the developing countries for access to their large populations of oil at reduced prices from the recent skyrocketing prices. With oil and energy purchases made by China and India and other poor countries for reasons of price discounts from $125 per barrel oil, Russia is able to sell oil in other markets making up in price for the drop in volume. 

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PM makes a point at G7- should not the 1.4 billion people of India most of whom are poor have the same access to energy as the people in the rich countries of the G7? It is to ensure this access to energy for the over 1 billion people in India that India has sourced oil from all countries when geopolitical tensions have made the price of oil to jump to new highs. Modi told a session at the G7 meetings- "All of you will also agree with this that energy access should not be the right of the rich only- a poor family also has the same right to energy. And today when energy prices are sky high due to geopolitical tensions, it is more important to remember this thing." Modi said that it was by "taking inspiration from this principle" that "we delivered LED bulbs and cooking gas door to door in India and showed that millions of tons of carbon emissions can be saved while ensuring energy for the poor." Never before in history has this been done on this scale as hundreds of millions of women have benefitted in poor areas where cooking was done by burning wood, and electricity did not exist. Water by tap water in every home, cooking gas, and electricity are now within the reach of every family in India.  Has G7 even thought of these things? And of the scale of the challenge that is being met and the future challenges for climate, technology and health that are being tackled on an unprecedented scale? ...

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PM Modi of India arrives in Munich for the G-7 summit at the invitation of Chancellor Scholz. Also invited are South Africa, Argentina, and Indonesia. 

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The NATO Response Force numbers will be increased from 40,000 to 300,000 after the G-7 Summit and NATO meetings. This is the part of the allied forces that are in high readiness should Russia attack a NATO member country.

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The lack of Soviet era ammunition for older artillery from that period in the army of Ukraine puts Ukraine at a serious disadvantage in Donbas and eastern Ukraine. The war in eastern Ukraine is fought mostly with artillery. Soviet era artillery uses different ammunition than NATO artillery. Ukraine is now calling for NATO artillery to be sent by allies in Europe and the US so that its forces can be supplied with supplies of NATO ammunition. The US and Europe have been slow in providing NATO artillery to Ukraine.