The G8 is No More - Russia is OUT

In The Hague, Netherlands, leaders of industrialized nations, including the United States, Britain, Canada, France, Germany, Japan and Italy, have voted on March 24, 2014 to vote Russia out of the the global forum for the governments. The forum was originated in a 1975 summit as the G6, Canada was added in 1976. This comprised the seven wealthiest developed countried on Earth. Russia was added in 1998. Sixteen years later, Russia has been kicked out. Why, because Russia annexed Crimea, as they have outrightly taken a sovereign country and made it Russia. They have effectively expanded their borders to include the banks of the Black Sea. Seaports along the coast of southern Crimea, are very strategic to Russia, and is one of the reasons why President Vladimir Putin of Russia decided to take the land. The next G8 summit was to take place in Sochi Russia, but due to the isolation of Russia from the conference and the radical actions of Vladimir Putin, the next meeting of the leading industrialized nations will not be in Russia, but instead in Brussels in June 2014. The main business of the G7 is the focus on non-economic issues, such as those relating to security.
The G7 became part of what is now known as the G20 in 1999. They are a newly formed Group of Twenty (G20), with the G8 nations plus Argentina, Australia, Brazil, China, the European Union, India, Indonesia, Mexico, Saudi Arabia, South Africa, South Korea, and Turkey participating. With the expulsion of Russia, The G20 is now G19. The G19 main purpose is a forum for global economic policy.
Continued sanctions are in place for Russia, as the goal now is to  impact the  Russian economy in hope to make Putin change his position on territorial issues.