G..7 -

In 1973, US Treasury Secretary George Shultz invited the finance ministers of France, West Germany, and the UK to the White House for a private discussion in the library. These "fireside chats" were held without official paperwork or large staffs to allow for candid talk about stabilizing the global economy after the 1973 oil crisis. Becoming a Global Powerhouse

: After the fall of the Soviet Union, Russia was invited to join in 1998, briefly making it the G8 . However, Russia was suspended indefinitely in 2014 following its annexation of Crimea, and the group reverted to the G7. In 1973, US Treasury Secretary George Shultz invited

: Originally founded to address economic concerns like inflation and oil shocks, the G7 has evolved to tackle global security, climate change, gender equality, and international health crises. Current Relevance However, Russia was suspended indefinitely in 2014 following