G7 summit to strengthen Ukraine
Published: Wednesday, Jun 12th 2024, 16:30
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The heads of state and government of the seven democratic industrialized nations (G7) want to strengthen Ukraine, which is under attack from Russia, militarily and financially with a further show of strength. The war in Ukraine is a central topic at the three-day summit, which begins this Thursday in the Italian luxury hotel "Borgo Egnazia" in Apulia.
The Gaza war, the difficult trade relations with China and migration are also on the agenda. Guests at the summit include Ukrainian President Volodymyr Selensky and, for the first time, the Pope.
The Group of Seven includes the USA, Canada, Japan, the UK, France, Germany and Italy, which is hosting and chairing the event this year. Chancellor Olaf Scholz is traveling for Germany. US President Joe Biden planned to travel to southern Italy on Wednesday. Council President Charles Michel and Commission President Ursula von der Leyen will be attending on behalf of the EU.
Ukraine can hope for huge aid package from G7 summit
The EU had already decided to use frozen Russian state assets for Ukraine. At the G7 summit, it is now to be agreed to make even more of it. As a senior EU official said on Tuesday evening, it is to be agreed in Apulia to finance a loan of 50 billion US dollars for Ukraine with interest 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 could be compensated for, the EU official explained.
The plans could help to use interest income from frozen Russian state assets even more effectively in future. The EU states had already decided to make them available directly to finance military aid for Ukraine. This year alone, up to three billion euros are to be raised for Ukraine. However, the effect could now be significantly increased once again via the so-called credit lever.
According to the Commission, around 210 billion euros from the Russian central bank have been frozen in the EU. The Brussels-based financial institution Euroclear recently announced that it had collected around 4.4 billion euros in interest in 2023. It is by far the most important institution in the EU holding the assets of the Russian central bank.
Report: 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 sources in the government. 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 new US Patriot system is currently in Poland, the New York Times continued. It could be deployed on the Ukrainian front in the coming days. It would be the second Patriot air defense system that the USA 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 defensive missiles can hit targets at a distance of around 100 kilometers and at altitudes of up to 30 kilometers in an imaginary bell around the position - depending on the missile used.
The Pope is the guest of honor
Italy's right-wing Prime Minister Giorgia Meloni 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. This is the first time a pope has ever attended a G7 summit. The head of the Catholic Church is to speak on the topic of artificial intelligence. However, the working session will also focus on Africa and the Mediterranean - and Francis repeatedly insists on solidarity with refugees and migrants who venture the dangerous sea route to Europe.
Series of summits ends in Switzerland
The G7 meeting follows on seamlessly from the two-day reconstruction conference for Ukraine in Berlin. On Saturday, Scholz and Selenskyj will continue on 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. A further 40 or so states are expected to attend with other senior government representatives.
©Keystone/SDA
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