G8 finance ministers to convene in Moscow

A resurgent Russia will open its chairmanship of the Group of Eight this weekend when finance ministers from the world’s wealthiest nations convene in Moscow for a day of oil-focused talks.

Russia, whose economy has been rejuvenated by high oil prices, has selected energy security as the central theme for its July summit in St Petersburg and finance ministers are due to discuss the effect of soaring oil prices on global economic growth at the first official meeting.