Sochi G8 summit canceled and replaced by G7 Brussels summit. Russia suspended from forum!

The G8 summit scheduled in June in the Russian resort of Sochi has been canceled, according to European Council President Herman Van Rompuy.

The meeting is now set to be held in Brussels after a decision taken on Monday, Mar. 24, 2014 by leaders of the industrialized countries who gathered these days at the Nuclear Security Summit in The Hague, The Netherlands.

The decision of the G7 leaders comes as a reaction to Russia’s decision to annex the Black Sea peninsula of Crimea to its own territory.

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“If our Western partners believe that this format is outdated, that’s it. We do not cling to this format and there is no tragedy if G8 won’t not exist anymore,” said Lavrov during a press conference in The Hague.

Westerners have warned Russia with expulsion from the group of leading industrialized countries (G7 + Russia) due to the recent annexation of Crimea region.