No interest in G8, says Russian president as he questions its relevance

Russian President Vladimir Putin has made clear that he has no interest in Russia rejoining the G8 format.

When asked directly whether Russia sought a return to the group, Putin replied simply, “No”, Caliber.Az reports, citing Russian media.

The president noted that even in earlier years he had “practically stopped” attending G8 meetings. He questioned the relevance of the format altogether, asking, “what’s so big about it,” given that its members continue to refer to themselves as the “Group of Seven” (G7).

Putin further argued that the G7’s share of the global economy is diminishing year after year, comparing its contraction to “shagreen leather.”

The Group of Seven (G7) is a coalition of economically advanced nations, comprising the United Kingdom, Germany, Italy, Canada, the United States, France, and Japan. Its inaugural meeting took place in France in 1975.

The G7 framework remained in place from 1976 until 1997, when Russia’s accession transformed the grouping into the G8. However, in March 2014, amid the unfolding events in Ukraine and escalating tensions between Russia, the United States, and European nations, Western countries opted to revert to the G7 format.

Previously, Russia had explored the possibility of rejoining the G8.

By Vafa Guliyeva