Russian President Vladimir Putin agreed to sign a statement at the Group of Eight summit calling for the establishment of a “transitional government” in Syria as quickly as possible, putting more pressure on his ally, President Bashar al-Assad.
Group of Eight leaders agreed to work for “a new global standard” to stamp out bank secrecy and pledged to deter multinational companies’ tax-avoidance strategies, according to a draft joint statement.
Senator Saxby Chambliss, a Georgia Republican, said it’s “imperative” that Syrian President Bashar al-Assad be removed, adding that he favors imposing a no- fly zone if the military determines it’s necessary.
West Texas Intermediate crude rose to a four-month high after President Barack Obama was said to authorize arming Syrian rebels groups, ratcheting up tensions in a region home to about a third of the world’s oil supply.
The U.S. will provide small arms and ammunition to the Syrian opposition amid recent battlefield setbacks by rebels and after saying it confirmed that Bashar al- Assad’s forces used chemical weapons in the civil war.