PRESIDENT Joe Biden and western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the leaders not to give in to “fatigue” even as Russia lobbed new missiles at Kyiv.
The leaders were set to announce new bans on imports of Russian gold, the latest in a series of sanctions the club of democracies hopes will further isolate Russia economically. They also were looking at possible price caps on energy meant to limit Russian oil and gas profits that Moscow can pump into its war effort.
Biden on Sunday was formally launching a global infrastructure partnership designed to counter China’s influence in the developing world. The initiative aims to leverage $600 billion with fellow Group of Seven countries by 2027 to spend on global infrastructure projects.
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