German Chancellor Olaf Scholz, in an interview with the ZDF television channel, spoke in favor of preserving the G20 format, which also includes Russia, which unleashed a war against Ukraine.

Despite Russia's invitation, the chancellor leaves open the possibility of attending the G20 summit in November. It is clear that the group of leading economic states will continue to play a "big role" and that close cooperation is important, he said.

That is why, he said, Germany does not want to torpedo work at the G20. He will only make a decision on whether to participate in the summit "shortly before departure" and depending on the current situation. Scholz noted that host Indonesia has invited Ukrainian President Volodymyr Zelensky in addition to Russian President Vladimir Putin.

In addition, according to Scholz, the G7 summit will not yet be able to decide on a joint stoppage of Russian gold supplies. According to the chancellor, this issue "will also need to be discussed in the European Union." "So it is not a question of where the G7 will finally decide," the German chancellor added.

However, everyone can count on "continuing to flesh out our sanctions," he noted.

German Chancellor Olaf Scholz said G7 leaders were concerned about the looming economic crisis amid inflation and a slowing economy.