The Russian authorities have announced the irrelevance of the G7 grouping after Donald Trump suggested Russia should return to the group of democratic industrial nations. The former G8 group expelled Russia when it took control of Crimea from Ukraine in 2014.
During his Thursday speech Trump voiced his willingness to welcome Russia back into the group where he said, “I’d love to have them back.” Throwing them out proved to be a wrong decision in my opinion. It was the G8.” Kremlin spokesman Dmitry Peskov downplayed the importance of the G7 by stating the group has lost much of its power to lead global economics.
The G7 group has experienced significant loss of importance in its global operations. According to Peskov the group has lost its ability to unite the world’s rapidly expanding economic nations. The G20 offers a better representation of modern global economic systems because it consists of emerging economies according to his perspective. 
Russia’s spokesman Dmitry Peskov made these statements while Western powers face intensified geopolitical tensions to Russia’s position and relationship dynamics. The Russian government shows greater interest in G20 economic summits because they represent an alliance better suited to global economic leadership according to Moscow.
Global power structures are changing while the discussion concerning Russia’s institutional presence reflects the emerging distribution of worldwide influence in the era of multipolarity.
