Group of Seven (G7)

The G7 is an informal bloc of industrialized democracies—the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom (UK).

The group was founded in 1975 in response to the oil crisis.

It now covers the entire spectrum of global issues, such as foreign and security policy, trade, climate, development and recently artificial intelligence. 

The EU is not a member of the G7, but attends the annual summit.

Formerly it was G8, till Russia was a member which was excluded for the reason of the Crimean invasion.

The G-7 is not an official, formal entity and, therefore, has no legislative or authoritative power to enforce the recommended policies and plans it compiles.

The decisions by the group are usually taken by consensus.