In a bold move to counter Russia’s invasion, G7 leaders have decided to leverage profits from frozen Russian assets to provide significant financial support to Ukraine. This unprecedented decision highlights the international community’s commitment to Ukraine’s defense and reconstruction.
At the recent G7 summit in Italy, leaders from the UK, US, Canada, France, Germany, Italy, and Japan reached a landmark agreement to use profits from frozen Russian assets to provide approximately $50 billion in support to Ukraine. This initiative aims to bolster Ukraine’s defenses and aid its recovery from the ongoing conflict with Russia.
Ukrainian President Volodymyr Zelensky had anticipated “important decisions” from the summit, and this funding marks a significant response to his call. The G7 leaders’ decision underscores their unity and commitment to supporting Ukraine amid the invasion led by Russian President Vladimir Putin. The funding will be sourced from the profits, dividends, and maturities of Russia’s roughly $300 billion assets frozen abroad since the 2022 invasion.
“This is a very strong message to Putin that he cannot outlast us, and we will stand by Ukraine as long as it takes,” stated European Commission President Ursula von der Leyen. She emphasized that the financial burden would not fall on European taxpayers but on Russia itself.
Ukrainian politicians, including opposition leader Kira Rudik, welcomed the move. Rudik described it as the “first step of fairness” in ensuring that the aggressor, rather than the supporting nations’ citizens, finances Ukraine’s victory. She expressed hope for more such steps in the future and pledged to use the funds wisely.
British Prime Minister Rishi Sunak and Italian Prime Minister Giorgia Meloni also announced a new sanctions package targeting Russia’s “shadow fleet” involved in covert oil transport. Sunak highlighted the impact of these measures on degrading Putin’s war machine.
In a bilateral move, US President Joe Biden agreed to a sweeping security agreement with Ukraine, aimed at deterring future aggression. President Zelensky also signed a security deal with Japan and discussed a similar 10-year agreement with the US.
During the summit, Zelensky called for a “Marshall Plan” for Ukraine’s reconstruction, drawing parallels with the post-World War II recovery plan for Europe. He also noted the increased protection provided by the recent lifting of restrictions on Western weapons targeting inside Russia, particularly benefiting the embattled Kharkiv region.
In a joint statement, Sunak, Biden, and Canadian Prime Minister Justin Trudeau condemned the Kremlin’s tactics of “lies, deceit, corruption, and disinformation” aimed at undermining sovereignty and democracy across Europe.
Tom Keatinge, director of the Centre for Finance and Security at the Royal United Services Institute, remarked that the $50 billion funding represents a crucial milestone but acknowledged that further efforts are necessary. “There is more to do, but at least this particular bridge has been crossed,” he said, emphasizing the significant benefit to Ukraine.
(Associated Medias) – Tutti i diritti sono riservati