July 19, 2024

Brighton Journal

Complete News World

Zelensky expects to make “important decisions” regarding Ukraine at the G7 summit

Zelensky expects to make “important decisions” regarding Ukraine at the G7 summit

Image source, Getty Images

Comment on the photo, Ukrainian forces say they urgently need more advanced Western weapons to fight invading Russian forces

  • author, Alex Smith
  • Role, BBC News
  • Report from London

Ukrainian President Volodymyr Zelensky said he expected “important decisions” at the G7 summit of the leaders of seven of the world’s richest countries to help his country fight invading Russian forces.

“A large part of the order will be allocated to Ukraine, our defense and economic resilience,” he said in a post on the Telegram app.

The White House says the G7 has made good progress on a US plan to use frozen Russian assets to raise $50bn (£39bn) annually for Ukraine.

On Thursday, Zelensky, who is attending the summit in Puglia, southern Italy, signed a security agreement with Japan. A similar agreement is expected to be reached with the United States.

Image source, EPA-EFE/REX/Shutterstock

Comment on the photo, Ukrainian President Volodymyr Zelensky (left) was warmly received by Italian Prime Minister Giorgia Meloni, host of the G7 summit in Puglia

The G7 countries – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – have been important financial and military backers of Ukraine since the large-scale Russian invasion in 2022.

Under international law, countries cannot confiscate those assets from Russia and give them to Ukraine.

But pot generates a lot of interest — about $3 billion a year — so the idea is to use that interest in a creative way.

The plan is to obtain a loan in international markets, grant about $50 billion to Ukrainians every year, and use the $3 billion to pay interest on this loan every year.

But there are still a lot of technical issues to be resolved.

President Biden’s security adviser, Jake Sullivan, says “key elements” of the plan have been identified and a good outcome is likely.

In recent weeks, Russian officials have spoken out about the idea of ​​taking interest from seized assets as “theft,” threatening retaliation.

Comment on the photo, Discussions began at the G7 meeting in Puglia, southern Italy

With Biden in the middle of a close election contest, and many other Western leaders trailing in the polls, there is pressure to offer support to Ukraine while they still can.

British Prime Minister Rishi Sunak, facing an escalating struggle ahead of next month’s general election, is set to announce up to $309 million to support Ukraine’s energy and humanitarian needs.

Voters will also soon face the party of French President Emmanuel Macron, which called for early parliamentary elections after a resounding loss to the far-right National Rally party in the European Parliament elections that took place last weekend.

The fragile political situation in many G7 countries is causing some observers to have low expectations about what can be achieved.

“If there is anything that will come out of this summit, it is the fear of a disaster before our eyes,” warned Nathalie Tocci, director of the Italian Institute of International Affairs, citing possible new governments led by Donald Trump in the United States and Turkey. The far right in France looms large.

Also on the agenda for the summit at Savilltree Resort are:

  • War in Gaza: All G7 leaders had previously supported US President Joe Biden’s position A plan to end hostilities – Including an immediate ceasefire, hostage release, and increased aid
  • Immigration: Italy is asking other countries to contribute financially to the Mattei Plan, which provides grants and loans to African countries to develop their economies. But many commentators suspect this may be a cover for Italy to crack down on immigration
  • Economic security: The anti-coercion charter, adopted after last year’s meeting, aims to prevent countries – such as China and Russia – from using their economic power to impose their will on others. It is believed that the United States is keen to discuss this issue again this time
  • AI safety: This issue was also raised last year, with the creation of a process to promote “safe, secure and trustworthy AI around the world”.

Pope Francis – who will become the first pope to attend the G7 summit – will address the topic of artificial intelligence at the conference.