joining me is kristin welker who is traveling with the president in germany and richard hawes, the presidentcil on foreign relations. there's a lot of news coming out of the g7. besides the medium to long range surface to air missile system that the u.s. plans to send, g7 leaders are close to settling on a global price gap for russian oil. talk about that and the import ban on russian gold. >> reporter: this is really significant. i was speaking to a senior administration official here who said the goals here at the g7 summit and at nato and well are two-pronged, first, to squeeze vladimir putin and, second, to try to stabilize the global economy. it is significant that they are close to reaching an agreement on a cap on russian oil imports. i am told that the discussions are very much ongoing, so i don't anticipate there will necessarily be an announcement today. again, this could have a significant impact on the russian economy. we learned over the weekend that the president and over g7 leaders announced they were banning russian gold. why is that significant? because it is the second larg