Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

G-7 Urge Russia Action

BONN, Germany -- The world's seven richest nations will press Russia for more economic reforms when leaders meet at this week's G-8 summit in Cologne, German Chancellor Gerhard Schr?der said Wednesday.

"We will encourage Russia to revive its economic reforms with new vigor," he said. "We are ready to help Russia, including materially, if Russia is ready to help itself."

Schr?der, the summit host, said "Russia needs from us a clear signal of our willingness to cooperate" in bringing market reforms forward.

"I don't yet see the possibility for a comprehensive debt write-off," he said, but "short-term economic measures in Russia will be discussed."