Finance ministers of the Group of Eight (G8) leading industrialized nations began their main session of discussion focused on the global economy and energy security Saturday morning at their Moscow meeting.

The finance ministers from the United States, Japan, Germany, Britain, France, Italy, Canada and Russia held a breakfast meeting with high-level finance officials from China, India, Brazil and South Africa to mainly discuss international trade before heading off to closed-door talks at a heavily guarded hotel in downtown Moscow within walking distance from the Kremlin.

The global economy and energy security will take center stage at the meeting, but the ministers will also discuss the fight against infectious diseases, curbing financing of terrorism and money laundering.

The G8 finance ministers are expected to issue a communique at the end of their meeting.

Russia has declared energy security a priority during its G8 presidentcy, which it took over at the start of the new year. President Vladimir Putin will host a summit meeting of the group in summer in St. Petersburg.

Russia said earlier that it would make energy security a priority of its first annual term.

With price twice as high as two years ago, world oil supply were further imperiled by the recent deterioration of Iranian nuclear issue.

Analysts saw no price decline soon and expected little concrete development from the Moscow talks.

Source: Xinhua