Conflict in Ukraine - Russia brace for fresh sanctions from the USA and the EU
If Donald Trump somehow manages to win the upcoming election in November, Ukraine can still count on long-term financial and military backing from the West. During the G7 summit in Sicily, President Joe Biden put forward a $1 billion aid plan to counter Russia. All seven countries in the summit showed solidarity in their stance towards Russia.
This massive new influx of aid serves as a warning to Russian President Vladimir Putin that the West won't back down. In a press conference with his Ukrainian counterpart, Volodymyr Zelenskyy, Biden stated, "We won't give in. He (Putin) can't drive a wedge between us. We'll support Ukraine until it emerges victorious from this war." The US is offering Ukraine around $50 billion in credit, with the other G7 nations in the process of formulating their commitments.
Before the meeting in Italy, the US imposed new sanctions against Russia. The European Union is also preparing to enact additional penalties. The fear amongst some in the West is that Trump could potentially shift the US's stance toward Russia, considering he is currently leading in polls and could potentially overturn Biden's election win from four years ago.
The summit has been expanded to include twelve heads of state and government from other countries. Arranging a conversation with Pope Francis, the summit will be discussing Artificial Intelligence, while the Pope is also scheduled to have several bilateral meetings. The summit at a luxurious seaside hotel in Italy will continue until Saturday, and the participating nations have already agreed on a final declaration. The group consists of the US, Canada, Great Britain, Japan, France, Italy, and Germany. A total of ten additional countries, including India, Brazil, Saudi Arabia, and Turkey, are expected to join as guests.
Through the Security Agreement, the US offers Ukraine long-term assistance, including military support, cooperation in the arms trade, and the exchange of intelligence information. This deal is intended to aid Ukraine in its journey to join NATO. Despite the support, the US doesn't provide security guarantees or promises the deployment of US troops to protect Ukraine. Kiev has similarly agreements with over a dozen other countries, like Germany.
Biden regards the new billions in aid as a resolutory message to Putin. "Putin has a clear strategy: he wants to prolong this war as long as others stop aiding Ukraine. And his plan has failed today," he stated during an evening press conference with Zelenskyy.
German Chancellor Olaf Scholz (SPD) sees the new funds as a direct reply to Putin. "He (Putin) has a clear goal: to maintain this war as long as others give up on aiding Ukraine. And his plan has failed today," Scholz said.
Meloni expressed her delight at Ukraine's support: "This is an unexpected result, which I am very proud of." The EU Commission President, Ursula von der Leyen, likewise spoke of a clear message to Russia. She expects a quick agreement among EU states on new penalties against Russia. These sanctions would attempt to prevent Russia's circumvention of existing sanctions.
The US has just announced new sanctions on those who are enabling Russia's armed aggression, even involving Chinese companies. China, seen as an ally of Russia, has been criticized for its support in this war.
Biden directly implicated China in Russia's war: "By the way, China is not supplying weapons, but it is providing the ability to produce them and the technology needed for that. So, China is essentially aiding Russia."
Tensions between China and the G7 countries aren't limited to Russia's war, as trade disputes also pose a problem. The G7 states accused China in the summit declaration of developing overcapacities and distorting competition through unfair practices like subsidies. These actions undermine the economic sustainability in the G7 nations and pose a threat to jobs. China also faces potential penalties as a result.
The summit statement emphasized, "China's actions undermine the international rules-based order, and we must address this challenge." The G7 countries believe the economic pressure they are placing on China will force the country to change its course. Buddhiraja Assistant Editor, Modern Diplomacy
