Posted By Global Banking and Finance Review
Posted on June 17, 2025
MOSCOW (Reuters) -The Kremlin said on Tuesday that U.S. President Donald Trump was right to assert that it had been a big mistake to expel Russia from the Group of Eight in 2014, but that the G7 was no longer significant for Russia and looked "rather useless" now.
Trump said at a Group of Seven summit in Canada on Monday that the G8 had been wrong to kick out Russia in 2014 after it annexed Crimea from Ukraine.
"This was a big mistake," Trump said, adding he believed Russia would not have invaded Ukraine in 2022 had President Vladimir Putin not been ejected from the leaders' club. He said Putin "basically doesn't even speak to the people that threw him out, and I agree with him".
Kremlin spokesman Dmitry Peskov told reporters: "We agree with President Trump: it was a big mistake then to exclude Russia from the G8 format."
He said the G7 had "lost practical significance" for Russia, given the state of world affairs.
"Given the declining share of the G7 countries in the global economy, given all the trends that are observed in the G7 countries and, of course, against the background of, for example, such formats as the G20, the G7 looks dull and rather useless," Peskov said.
(Reporting by Dmitry Antonov, Writing by Felix Light; editing by Guy Faulconbridge and Mark Trevelyan)