G7 leaders' meeting - "Robbery remains robbery": Putin dismisses additional assistance for Ukraine.
The Russian president, Putin, made a threat towards the G7, which consists of seven major democratic industrial countries, regarding possible financial assistance for Ukraine. He considered the use of interest payments from frozen Russian state assets for aiding Ukraine as "theft." A noteworthy outcome came about during the gathering of the leaders of the G7 nations in this regard: They plan to grant Ukraine approximately $50 billion (roughly €47 billion) from a credit package. The country is expected to receive this money by the end of the year.
This decision was lauded by Germany, Italy, the USA, France, Britain, Canada, Japan, and the EU as a manifestation of unity among Western supporters of Ukraine. US President Joe Biden remarked: "Putin's reminder that we won't back down. Instead, we stand together against this unlawful aggression." Italian Prime Minister Giorgia Meloni called it an unforeseen accomplishment that made her proud. "Now we need toiron out the technicalities."
Putin's Warning
Russian authorities haven't responded to the G7's decision as of Thursday, but Putin did address it during a speech at the Foreign Ministry in Moscow, broadcast by state media. "They've found a way to make theft seem legal," he remarked. "But no matter what they do, theft remains theft." The Kremlin will not let this action go unchallenged.
A Possibility for Grace
The G7's focus on Ukraine shifted towards China, economic security, and migration issues during the second day of their meeting. At the luxurious "Borgo Egnazia" resort on the Adriatic coast of Italy, Pope Francis visited the summit, becoming the first Pope to attend a G7 conference since nearly fifty years ago. He's attending a session regarding Artificial Intelligence and may also use this opportunity to provide advice to the world leaders present, including controversial Argentine President Javier Milei.
A Celebratory Occasion
Federal Chancellor Olaf Scholz, whose time after the European election results has been challenging for his SPD, experienced a more upbeat turn on his 66th birthday. During the first working session at the summit, his fellow G7 leaders sung "Happy Birthday" to him in front of the meeting room. Besides Biden, Meloni, French President Emmanuel Macron, Canadian Prime Minister Justin Trudeau, British Prime Minister Rishi Sunak, EU heads Ursula von der Leyen and Charles Michel, others were present too.
A Statement in the Works
Italian Prime Minister Giorgia Meloni blocked the G7 from making a clear statement in favor of abortion rights at the G7 leader's meeting. Unnamed sources informed the German Press Agency about this development. Additionally, the G7 will be more critical of China, accusing the country of engaging in unfair business practices, such as subsidies, overcapacities, and profit distortion algorithms. These practices are adverse to the economic resilience of G7 countries, potentially at risk of job losses. Indirectly, Beijing faces the possibility of additional sanctions.
Agreeing on a Conclusion
Meloni, the Italian right-wing Prime Minister, officially declared yesterday that the G7 nations had reached an agreement on a final statement. The summit is set to close on the following day. Next in Switzerland, a Ukraine peace conference, which includes Scholz, will open.
