(Bari) The G7 leaders are meeting Thursday in Italy where they will reaffirm to Volodymyr Zelensky their solidarity with Ukraine by sealing a key agreement on the use of Russian assets frozen by the West to help Kyiv defend itself.
The “Group of 7” (United States, Germany, France, Italy, United Kingdom, Canada, Japan) meets on Thursday and Friday in the luxurious seaside resort of Borgo Egnazia, in Puglia (south).
Joe Biden, Emmanuel Macron, Olaf Scholz and their counterparts were welcomed at the end of the morning by the head of the Italian government Giorgia Meloni, whose country holds the rotating presidency of the G7.
The President of the European Commission Usrsula von der Leyen and the President of the European Council Charles Michel are also invited to the table of the great powers, from which Russia was excluded after its annexation of Crimea in 2014.
The G7 plays “an irreplaceable role in managing global crises, particularly those that threaten our freedom and democracy,” Meloni said at the summit’s opening.
Ukraine will be at the heart of the meeting on Thursday afternoon, with Volodymyr Zelensky attending. “We expect important decisions to be made today,” the Ukrainian president said on Telegram.
Faced with the prospect of a return to the White House of Donald Trump and the uncertainty surrounding the consequences of his election for Ukraine, the heads of state and government of the G7, which include the main military supporters and financial backers of Ukraine since the Russian invasion of February 2022, want to secure the financing of this aid.
They are due to discuss a major deal that could unlock a $50 billion loan for Kyiv, secured by future interest generated by stranded Russian assets.
The agreement already seems to be sealed. “Good news from the G7: $50 billion more for Ukraine,” German Finance Minister Christian Lindner rejoiced on X.
Same story on the French side, which announced an agreement “on the disbursement of 50 billion” dollars “before the end of 2024”.
President Joe Biden and Volodymyr Zelensky will also sign a bilateral security agreement in Italy on Thursday and British Prime Minister Rishi Sunak will announce new aid of 242 million pounds (286 million euros).
Washington also announced on Wednesday a new round of sanctions aimed at curbing the Russian war effort, targeting entities located in Russia and countries such as China, Turkey and the United Arab Emirates.
Zelensky, who is in Berlin on Tuesday, called on his allies to increase their deliveries of anti-aircraft weapons. He will then travel to Switzerland for a “Conference on Peace in Ukraine” that will bring together more than 90 countries and organizations on Saturday and Sunday, but not Russia or China.
Another sensitive subject for Washington and its G7 allies, tensions with China, support of Moscow and of which Americans and Europeans denounce the industrial overcapacity which floods their markets with subsidized products at low prices.
Accusing Beijing in particular of illegally boosting its electric vehicle manufacturers, the European Commission threatened on Wednesday to impose additional customs duties. China threatened to file a complaint with the World Trade Organization (WTO) on Thursday.
Alarmed by the outbidding between the West and Beijing, the Secretary General of the United Nations deplored the “divisions” between the two blocs “nourished by geopolitical rivalries”.
“The new customs barriers introduced each year have almost doubled since 2019,” lamented Antonio Guterres, who will also participate in the G7.
According to a European official, the Puglia summit must serve to “coordinate” the G7 strategy on this issue which will be on the agenda for debate on Friday.
Finally, the war in Gaza should occupy part of the working sessions and the numerous bilateral talks on the sidelines of the summit.
As the conflict between Israel and the Palestinian Islamist movement Hamas enters its 9th month, US Secretary of State Antony Blinken is touring the Middle East to try to salvage the ceasefire plan announced on May 31 by Joe Biden.
The G7 has already expressed support for the plan, but Hamas has proposed some “unworkable” amendments, according to Blinken. For its part, Israel has not officially announced its position and is relentlessly continuing its offensive, launched on the Gaza Strip in response to the bloody attack carried out on October 7 by Hamas on its soil.