G7 summit: why is this meeting important for Ukraine and what decisions has Zelensky already announced?
The G7 summit has started in Italy, at which the G7 leaders will discuss, among other things, the war in Ukraine. President Volodymyr Zelensky has already said that important decisions should be expected at the summit. Find out what positive signals for Ukraine are already coming from Italy and what important decisions the Ukrainian president talked about
On 13 June, the Group of Seven summit kicked off in Italy, focusing on a number of topics, including the war in Ukraine and its continued support. President Volodymyr Zelenskyy has already arrived at the summit and managed to announce "important decisions" from the allies. Here's what to expect from the G7 and what decisions have already been made in favour of Ukraine.
This year's G7 summit is taking place in Puglia, Italy, at the Borgo Egnazia hotel, where he was welcomed by Italian Prime Minister Giorgia Meloni.
Zelenskyy is taking part in the first part of the G7 summit, dedicated to the war in Ukraine. According to local media reports, it began around 16:00 Kyiv time.
Important decisions to be expected at G7 summit
According to the President of Ukraine, most of the summit will be devoted to Ukraine's defence and economic resilience.
"Today is the Group of Seven summit in Italy, a meeting of our largest partners. Most of the summit will be devoted to Ukraine, our defence and economic stability. And we are expecting important decisions today," he said in a statement.
The main topics for Ukraine will be:
- development of a fighter jet coalition,
- accelerating pilot training,
- accelerated delivery of aircraft.
The summit will also discuss the development of Ukraine's air defence system "based on the most powerful Western systems", the increase in long-range capabilities, and the approval of the format for using russian assets for the benefit of Ukraine.
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Ukraine will sign two security agreements at once
Zelenskyy confirmed that he will hold meetings with US President Joseph Biden and Japanese Prime Minister Fumio Kishida, during which the leaders will sign bilateral security agreements.
The Ukrainian president noted that the document with the United States would be unprecedented.
At the same time, The Washington Post writes that the agreement between Ukraine and the United States may face problems in the future. The fact is that the document will not be ratified by Congress, but only signed by the leaders. Therefore, the ten-year security agreement can be cancelled by any subsequent US president.
And if it happens that Donald Trump becomes the next president, he will be able to withdraw from the legally binding executive agreement, as it is not a treaty and will not be ratified by Congress.
At the same time, the document signed with Japan at least provides Ukraine with the opportunity to receive $4.5 billion in aid through 2024.
Ukraine will receive 50 billion of russia's frozen assets
At the meeting, representatives of the Group of Seven agreed to transfer $50 billion to Ukraine. The money will be used to pay interest on the frozen assets of the russian Federation. This news was announced by the head of the German Ministry of Finance, Christian Lindner.
"Good news from the G7: another $50 billion for Ukraine. We are using interest on frozen assets for this purpose - a smart tool that shows putin our unity, helps Ukraine a lot and relieves the burden on budgets," the minister said.
The countries are currently working out all the other details. According to Bloomberg, the loan to be received by Ukraine will be repaid from the proceeds of russia's blocked assets. The deal is expected to provide critical support for Kyiv in the medium term. In particular, it will help cover the country's financial needs until 2025 and beyond.
We remind you! Ukraine has finally received a positive assessment from the European Commission, which called on the bloc's members to start negotiations on the country's integration into the EU. We will tell you whether and when the talks will start here.
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