ANALYSIS The G7’s Geoeconomic Future - Insights from Conflicts with Russia, China, and Iran

But how strong and sustainable is this new of Ukraine has sparked the worst conflict on the Eu- geoeconomic alignment – particularly in light of up- ropean continent since the end of the Second World coming elections in the EU in June and the United War, initiating a turning point (“Zeitenwende”) in in- States in November? Historically, the G7 countries ternational relations and the global economy. [...] Chapter 4 will sum up the findings of the case studies in terms of the central question: Is the G7 a geoeconomic actor? The study will close with recommendations to the G7. [...] At the latest Hiroshima sum- that: “France and Germany will organize a Normandy mit in May 2023, the G7 leaders again supported this format summit in the coming weeks to achieve tan- geoeconomic approach to coordinate sanctions and gible results.”20 In the wake of the pandemic, the US other economic actions to raise the costs of Russia’s G7 summit in 2020 never took place. [...] However, the sanctions and ex- nancial sanctions.”22 The G7 summit in Elmau again port controls were so weak and the costs so low that reiterated the strong commitment of the G7 to use they did not prevent (but rather encouraged, as some sanctions and other measures to react to Russia’s would argue) the increase of tensions and later the war of aggression. [...] As a result, much of the international com- cluding a visit by Iranian Foreign Minister Hossein munity and the G7 supported the United States in a Amir-Abdollahian to Tokyo and a leaders’ meeting on sanctions regime coordinated through the United the sidelines of the UN General Assembly.54 The Biden Nations Security Council (UNSC).51 After four rounds administration has revived talks for the Unite.