President Joe Biden and his counterpart Volodymyr Zelensky will conclude a bilateral security agreement between the US and Ukraine today during his meeting on the sidelines of the leaders' forum of the Group of the Seven Most Developed World Economies (G-7) in Italy, BTA reported.
Against this background, G7 negotiators reached an understanding on providing Ukraine with $50 billion in aid through the use of frozen Russian assets, sources familiar with the matter told The Associated Press.
The official announcement of the planned use of the seized assets will be made at the meeting in the resort of Borgo Enziata in the Puglia region of southern Italy between US President Joe Biden and the heads of state and government of the other countries of the Group.
The G-7, an international grouping of wealthy democracies, is discussing ways to help Kiev with $260 billion in Russian assets that have been frozen abroad since Russia invaded Ukraine in February 2022.
European representatives opposed the confiscation of the assets, citing legal and financial stability considerations. Most of these assets are blocked in Europe.
The negotiated plan, the sources said, calls for interest accrued on those assets to be used to support the Ukrainian war effort. The AP spoke on condition of anonymity because they are not authorized to speak before the agreement is officially announced.
Yesterday, a representative of the French presidency confirmed the information.
In the framework of the G7 meeting, the presidents of the United States and Ukraine, Joe Biden and Volodymyr Zelensky, will conclude a security pact, the main point of which is the use of Russian assets to help Ukraine in its fight against the war machine of President Vladimir Putin . However, Washington explicitly emphasized that this pact does not provide for the direct involvement of American troops in the defense of the Eastern European country - a red line that the Biden government does not want to cross due to fears of being drawn into a direct conflict between the nuclear superpowers, notes the Associated Press.< /p>
British Prime Minister Rishi Sunak will announce at the G-7 meeting bilateral assistance to Ukraine worth about 242 million pounds ($309.69 million). The funds are intended for meeting the most urgent needs of the Eastern European country in areas such as humanitarian and energy. This was announced by the office of the British Prime Minister, quoted by Reuters and BTA.
"We must be decisive and creative in our efforts to help Ukraine and end Putin's illegal war at this critical moment,'' Sunak said ahead of today's meeting of the Group of Seven Advanced World Economies (Mr. 7) in Italy.
Among the measures being discussed by the G7 and the EU to support Kiev is the use of proceeds from Russian assets that were frozen by the West after the start of the war, as well as giving Ukraine a large initial loan to guarantee Kiev's funding for 2025
The G-7 includes the USA, Canada, Great Britain, France, Germany, Italy and Japan.