Refusing to be cowed by desperate Russian nuclear threats, leaders of the G-7 nations are taking steps in the right direction to assist Ukraine:
Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival that would use interest earned on profits from Russia’s frozen central bank assets as collateral.
Details of the deal were still being hashed out as G7 leaders gathered for a summit in Italy, but the money could reach Kyiv before the end of the year. That’s according to a French official who confirmed the agreement Wednesday ahead of a formal announcement at the summit. [snip]
Most of the money would be provided in the form of a loan from the U.S. government that would be backed by windfall profits being earned on roughly $300 billion in immobilized Russian assets. The vast majority of the money is being held in European Union nations.
A French official said that while the loan would be mostly U.S.-guaranteed, it could be “topped up” with European money or other national contributions. [snip]
... U.S. national security adviser Jake Sullivan said Wednesday that the goal is “to provide the necessary resources to Ukraine now for its economic energy and other needs so that it’s capable of having the resilience necessary to withstand Russia’s continuing aggression.”
Another goal is to get the money to Ukraine fast.
The French official, who was not authorized to be publicly named according to French presidential policy, said the details could be worked out “very quickly and in any case, the $50 billion will be disbursed before the end of 2024.”
Also, on the defense front,
NATO defense ministers gathered Thursday hoping to agree on a new plan to provide long-term security assistance and military training to Ukraine amid Russia’s full-scale invasion, after Hungary promised not to veto the proposal as long as it’s not forced to take part.
The ministers are meeting over two days at NATO headquarters in Brussels in the last high-level talks before a summit hosted by U.S. President Joe Biden in Washington on July 9-11, where the military organization’s leaders are expected to announce financial support for Ukraine.
Ukraine’s Western allies are trying to bolster their military support as Russian troops launch attacks along the more than 1,000-kilometer (620-mile) front line, taking advantage of a lengthy delay in U.S. military aid. European Union money was also held up by political infighting.
NATO Secretary-General Jens Stoltenberg, who is chairing Thursday’s meeting, said that Ukraine’s beleaguered armed forces need longer-term predictability about the kinds of weapons, ammunition and funds they can expect to receive...
Finally, a significant bilateral U.S.-Ukraine security agreement:
President Biden and Ukrainian President Volodymyr Zelensky plan Thursday to sign a 10-year security agreement that will commit Washington to supply Kyiv with a wide range of military assistance, national security adviser Jake Sullivan said, in a bid to bolster Ukraine’s fight with Russia.
The deal aims to commit future U.S. administrations to support Ukraine, even if former president Donald Trump wins November’s election, officials said. It will be a framework for a long-term effort by the United States to help develop Ukraine’s armed forces, which have innovated on drone warfare and other cutting-edge techniques in the fight against Russia, but are also desperately outgunned and in need of modern weapons...
Especially now, in light of the recent European parliamentary elections that saw gains by the Putin- funded fascist and far left parties, as well as the threat posed by Putin asset and convicted felon Malignant Loser here, it's past time to get the support needed by Ukraine to fend off Putin's invaders.
BONUS: Another gut punch to war criminal Putin's regime -- new sanctions shake Russia's financial system.
(Photo: Presidents Zelenskyy and Biden signing the security agreement at the G-7 summit in Italy/ Reuters)
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