To address and mitigate further impacts on global food security and surge in prices triggered by the Russian blockade of Black Sea ports, the G7 Summit pledged an additional $4.5 billion. More than half of it - $2.76 billion - will come from the United States.
The leaders of the world's seven major economies called on countries and companies with large food stockpiles to contribute to the global food basket.
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Political News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.