The Group of Seven (G7) met at Cornwall, United Kingdom. To understand the global significance of this meeting, it might be appropriate to invert the old adage. In this case, the takeaway is that more things remain the same, the more they change. In other words, behind the apparent continuity of old habits and actions of this grouping of powerful nations, there are significant departures and advancements. The G7 originated from a meeting of finance ministers in March 1973. Later that year, the Organisation of Petroleum Exporting Countries, announced an oil embargo on several Western countries for supporting Israel in the Yom Kippur war which broke out in October.