G7 agrees on 50 billion for Ukraine as battles rage
Vatican news
US President Joe Biden announced that Western Group of Seven (G7) economies have agreed to use frozen Russian state assets to provide tens of billions in aid to war-torn Ukraine. This announcement comes as fighting continues on the battlefields.
By Stefan J. Bos
US President Joe Biden said he and other G7 leaders had agreed to support warring Ukraine with a $50 billion loan backed by profits on frozen Russian assets.
Biden also signed a 10-year bilateral security agreement to support Ukraine in its fight against the ongoing Russian invasion. “Last peace for Ukraine must be guaranteed by Ukraine's ability to defend itself now and deter future aggression at any time in the future,” Biden said.
“The United States will help ensure that Ukraine can do both, not by sending American troops to fight in Ukraine but by providing weapons and ammunition; expand intelligence sharing; continue to train courageous Ukrainian troops at bases in Europe and the United States,” he added.
The deal capped 12 months of complex negotiations that Biden acknowledged had limits.
For example, he ruled out that delivered US weapons could be used to strike deeper into Russia beyond the weapons bases used to attack the Ukrainian city of Kharkiv.
Despite these limitations, Ukrainian President Volodymyr Zelenskyy called it “the strongest agreement” since his country's independence in 1991. “This is an agreement on security and therefore on the protection of human life. This is an agreement on cooperation and therefore on how our nations will become stronger,” Zelenskyy added.
“Last peace”
“This is an agreement on measures to ensure lasting peace and, therefore, it benefits everyone, because the Russian war against Ukraine constitutes a real and real global threat,” stressed the Ukrainian leader.
Besides Ukraine, the G7 summit in southern Italy also addresses other issues, including the relationship between Israel and Hamas.
US President Biden said on Thursday that he did not expect a ceasefire and hostage release deal for Gaza to be reached in the near future, saying Hamas needed to bring its position closer to the proposals supported by Israel and the United States.
Other issues discussed include China, climate change, the spread of artificial intelligence and African issues, particularly Italy's concern over uncontrolled migration from the continent to Europe.
The gathering could be one of the last G7 meetings for the British prime minister and others, as they face tough elections and other political challenges at home.
Vatican news
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