G8 is a term for the group of the world's eight most industrialized nations, 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, the heads of state or government of the major industrial democracies have met annually to address the major economic and political issues facing their national societies and the international community as a whole.” During the G8 meeting, macroeconomic management, international trade and relations with developing countries were discussed. The G8 has developed a network to allow ministers from different parts of the world to continue the work conceived at each summit. Therefore, the summit has attracted the attention of countless journalists every year. The G20 is the same definition as the Group of 20, which includes some developing countries such as Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, Korea and Turkey. At the Kananaskis Summit in Canada in 2002, the G7 summit proclaimed that Russia will host the G8 meeting in 2006, in order to become a full member of the G8. “On March 26, the world's major industrial nations effectively suspended Russia indefinitely from the Group of Eight and warned they would impose tougher economic sanctions against Moscow President Vladimir Putin as he expands his military intervention in Ukraine.” The decision was taken by US President Barack Obama on behalf of rich countries against what he defined as Russia's violation of international law with the annexation of Crimea. As a result of the Russian incursion into Ukraine,...... half of the document......ttp://time.com/35965/world-leaders-cancel-g8-summit-in-russia-after - Ukrainian-crisis/Scott, Wilson. Carol, Morello. “Obama, Major Allies Effectively Suspend Russia From 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, Piccolo. Michael, D. Shear. “Russia ousted from Group of 8 by US and allies,” accessed March 24, 2014. http://www.nytimes.com/2014/03/25/world/europe/obama-russia- crimea.html?_r=1 IbidIbidIbidZeke J Miller. “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/