The G8 is a term designating the group of eight most industrialized countries in the world, namely France, the United States, the United Kingdom, Russia, Germany , Japan, Italy and Canada. The European Union is also delegated to the G8 summits by the President of the European Union and the European Commission. “Since 1975, heads of state or government from major industrial democracies have met annually to address major economic and political issues facing their national societies and the international community as a whole. » The G8 meeting discussed macroeconomic management, international trade and relations with developing countries. The G8 has developed a network to enable ministers from different parts of the world to continue the thoughtful work at each summit. As a result, the summit attracts the attention of countless journalists every year. The G20 has the same definition as the Group of 20, which includes some developing countries like Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, Korea and Turkey. At the 2002 Kananaskis Summit in Canada, the G7 summit proclaimed that Russia would host the G8 meeting in 2006, in order to become a full member of the G8. "On March 26, the world's leading industrial nations suspended Russia indefinitely from the Group of Eight and warned they would impose tougher economic sanctions against Russian President Vladimir Putin for expanding his military intervention in Ukraine." The decision was taken by US President Barack Obama, as a representative of rich countries against what he called Russia's violation of international law with the annexation of Crimea. As a result of the Russian incursion into Ukraine,...... middle of paper ......ttp://time.com/35965/world-leaders-cancel-g8-summit-in-russia-after -ukrainian-crisis/Scott, Wilson. Carole, Morello. “Obama and his key allies effectively suspend Russia from the Group of Eight” Accessed March 24, 2014 http://www.washingtonpost.com/world/obama-in-europe-with-ukraine-high-on-agenda-kiev- makes-crimea-withdrawal/2014/03/24/001708a4-b344-11e3-8020-b2d790b3c9e1_story.html “What is the G8” Accessed July 23, 2010 http://www.g8.utoronto.ca/what_is_g8.html IbidIbidAlison , Little. Michael, D. Shear. “Russia Is Ousted From Group of 8by US and Allies,” accessed March 24, 2014. http://www.nytimes.com/2014/03/25/world/europe/obama-russia-crimea.html?_r=1 IbidIbidIbidZeke J Meunier. “World leaders cancel G8 summit in Russia after Ukraine crisis,” accessed March 24, 2014. http://time.com/35965/world-leaders-cancel-g8-summit-in-russia-after- ukraine-crisis/