The G7 meeting in the Italian holiday idyll is intended to send a strong signal to Russia. The USA is setting the tone even before it begins. But the war in Ukraine is not the only crisis.
Just in time for the G7 summit, the USA has imposed new sanctions against supporters of the Russian war against Ukraine. The announcement marked the start of another major effort that the seven democratic industrial nations intend to make to support the attacked country at their three-day summit in southern Italy.
The heads of state and government of the countries are meeting today in the luxury hotel “Borgo Egnazia” in Apulia. In addition to Ukraine, the Gaza war, the difficult trade relations with China and migration are also on the agenda. Guests at the summit include Ukrainian President Volodymyr Zelenskyj and, for the first time, the Pope.
The Group of Seven includes the USA, Canada, Japan, Great Britain, France, Germany and Italy, which is hosting and presiding this year. Chancellor Olaf Scholz is travelling for Germany. US President Joe Biden was expected in southern Italy yesterday evening. Council President Charles Michel and Commission President Ursula von der Leyen are attending for the EU.
New US sanctions against supporters of the war
Because of the attack on Ukraine more than two years ago, the West has already imposed unprecedented sanctions on Russia and its supporters. The US government also announced new sanctions at the start of the G7 summit in Japan last year in order to make it more difficult for Moscow to access goods that are important on the battlefield.
The new package is aimed at more than 300 individuals and entities that are helping Russia evade sanctions and produce materials for the battlefield, the US State Department said on Wednesday. These include Chinese companies. The new sanctions also affect individuals responsible for the abduction and re-education of Ukrainian children.
Ukraine can hope for a huge aid package from the G7 summit
Zelensky will attend one of the working sessions of the G7 countries on Thursday. He can expect commitments during the summit. The group is expected to agree in principle to provide Ukraine with new aid of around 50 billion US dollars (around 47 billion euros) as quickly as possible.
This is to be done with the help of a loan package that will be financed through interest income from frozen Russian state assets. Ukraine could use the money to strengthen its defense and pay for the reconstruction of destroyed infrastructure. In addition, bottlenecks in the Ukrainian state budget should be able to be balanced, an EU official said on Tuesday evening.
The EU states had already decided to use the interest income directly to finance military aid for Ukraine. This year alone, up to three billion euros are expected to be raised. However, the effect could now be significantly increased again through the so-called credit leverage.
According to the Commission, around 210 billion euros of the Russian central bank are frozen in the EU. The Brussels-based financial institution Euroclear recently announced that it had earned around 4.4 billion euros in interest in 2023. It is by far the most important institution in the EU that holds assets of the Russian central bank.
USA wants to supply Ukraine with another Patriot air defense system
According to a media report, US President Biden wants to provide Ukraine with another Patriot air defense system. Biden made the decision last week after a series of meetings with senior advisers, wrote the New York Times, citing unnamed government sources. White House Communications Director John Kirby did not confirm the report when asked. It is conceivable that the US government will make the announcement during the summit.
The US’s new Patriot system is currently in Poland, the New York Times wrote. It could be deployed on the Ukrainian front in the coming days. It would be the second Patriot air defense system that the US has made available to Ukraine.
It is one of the most modern in the world. It is used to combat enemy aircraft, ballistic missiles and cruise missiles. The defense missiles can hit targets in an imaginary bell around the position at a distance of around 100 kilometers and at altitudes of up to 30 kilometers – depending on the guided missile used.
Biden and Zelenskyj want to sign security agreement
US President Joe Biden and his Ukrainian counterpart Volodymyr Zelenskyy want to sign a bilateral security agreement between the two countries on Thursday on the sidelines of the G7 summit in Italy. Biden’s National Security Advisor, Jake Sullivan, announced this to journalists on Wednesday on the flight to Italy. 15 countries have already concluded corresponding agreements with Ukraine. Now the US government’s negotiations with Kyiv have also been concluded.
Sullivan did not yet provide any specific details about the content of the agreement. However, he stressed that the agreement would not include any obligation to deploy American forces to defend Ukraine. “It is a commitment that we will ensure that Ukraine can defend itself.”
Sullivan also indicated that the agreement states that the US government wants to work with Congress to find a way to provide “sustainable” support for Ukraine. Sullivan did not go into more detail and stressed that the agreement did not mention any specific amounts. Republican MPs have recently blocked new financial aid for Ukraine in parliament for months.
The Pope is the guest of honour
Italy’s right-wing Prime Minister Giorgia welcomes her guests to the luxury resort “Borgo Egnazia”, which has 28 villas and 63 suites or rooms in traditional Apulian style. There are also restaurants, pools, a golf course and a beach club. The Pope will also meet with the heads of state and government there.
For the first time ever, a pope is attending a G7 summit. The head of the Catholic Church is expected to speak about artificial intelligence. The working session will also focus on Africa and the Mediterranean – and Francis repeatedly calls for solidarity with refugees and migrants who dare to take the dangerous sea route to Europe.
Summit series ends in Switzerland
The G7 meeting follows on seamlessly from the two-day reconstruction conference for Ukraine in Berlin. On Saturday, Scholz and Selensky will go to the Ukraine peace conference in Switzerland, for which, according to the government in Bern, around 40 heads of state and government have registered so far. Around 160 were invited. A further 40 states are expected to attend with other high-ranking government representatives.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
