The issue concerning Ukraine and its ongoing struggle against Russian aggression was prominently discussed at the current G7 summit in Italy, where President Volodymyr Zelensky attended. Notably, the Ukrainian president was scheduled to finalize a decade-long bilateral security pact with US President Joe Biden. Concurrently, Ukraine is set to receive a substantial $50 billion loan, underwritten by future profits from frozen Russian assets.
Since 2022, Kyiv entered into 15 bilateral security agreements with various countries, including the United Kingdom, France, Germany, and Italy. Unlike some agreements, the US-Ukraine deal does not necessitate congressional approval and could potentially be altered under a future US administration. President Biden has stressed that the commitments to Ukraine will mirror those extended to Israel, encompassing economic support, military aid, and potential joint weapon production.
Anticipated discussions between the two leaders are expected to touch upon Ukraine’s NATO accession timetable and the deployment of military. Additionally, Ukraine is poised to sign a similar security accord with Japan.
Zelensky emphasized the agreement with the United States as one that will also reflect the backing from other international leaders. While not obliging direct US military intervention in the event of an attack on Ukraine, these agreements aim to facilitate peace negotiations by providing assurances of support against potential Russian aggression.
Moreover, the agreements outline consultations within 24 hours between parties in response to future Russian threats. White House national security adviser Jake Sullivan underscored that signing such pacts sends a message to Russia, demonstrating steadfast support for Ukraine amid ongoing geopolitical tensions.
Regarding the G7 decision, it has been confirmed that Ukraine will receive a $50 billion loan by the end of 2024, funded partly by assets frozen within the European Union as agreed upon by the member countries. Technical details are being finalized, with the funds expected to be swiftly disbursed to bolster Ukraine’s economic and security capabilities. The German Ministry of Finance expressed satisfaction with the decision, highlighting it as positive news from the G7 summit discussions.
