G7 Summit: Japan in the Spotlight

G7 Summit: Japan in the Spotlight The next summit of the G7 countries starts today: the long-suffering Hiroshima risks becoming a symbol of serious political upheavals that can be quite destructive for the world economy. And the problem is not so much in the next sanctions against Russia, but in the tightening of rhetoric against China.Options on the topic of Russian gas: most likely  the leaders will discuss measures to counter Russia's attempts to circumvent the imposed restrictions and promise to somehow punish its trading partners; negative  a complete ban on imports.At the moment, European gas storage facilities are filled to 60% of their total capacity  a record figure for this period. So Europe may well refuse supplies from the Russian Federation, at least for a while.The second problem is that stable supplies of oil from India suddenly appeared.In April, India imported about 1.9 million bpd of Russian oil and naturally sells the excess on the open market. The country already exports 12-16% of its diesel fuel and nearly 50% of its total refined jet fuel supplies to European countries. Most likely, the Indians will simply be reminded of the current price ceiling, but there will be no repressive measures.Biden's visit is reduced to a minimum  negotiations with Congress are not completed. The US President will present his plan to curtail investment in China, and while the project is already being considered soft as a result of the compromise with the EU, even a mere discussion of these issues will increase the overall risk.The pressure on Beijing will have a negative impact on partners that are too dependent on exports, such as Germany or Japan. And there is no certainty that G7 colleagues will actively support another aggravation of relations with the Asian Dragon.The summit is not going to be easy, mainly because of the anti-Chinese agenda. So the markets can only cost new downward corrections until at least some positive appears.Profits to yall!#ForexChief #G7Summit #forexnews #StopLoss #stocks #market #profit #Traders #RussianGas