Conflict erupts - Initial sanctions implemented by the US are now followed by the European Union, targeting Russia with economic penalties.
If Donald Trump wins again in November, Ukraine can still rely upon financial and military aid from the West in the long run. During the G7 summit in Sicily, Joe Biden proposed a billion-dollar aid package that would come at Russia's expense. The seven nations stood united in their support of Ukraine.
The billions of dollars in aid serve as a reminder to Russian President Vladimir Putin that we won't back down, said Biden during a press conference with his Ukrainian counterpart Volodymyr Zelenskyy. "He (Putin) cannot divide us. And we will stand by Ukraine's side until it has won this war." The US alone plans to extend $50 billion in credit. The other G7 nations are still working on their commitments.
The US implemented new sanctions against Russia before the meeting in Italy. The European Union is now preparing to impose additional punitive measures. The West believes that Trump could bring about a significant change in the US's approach towards Russia should he succeed in overturning Biden's election victory from four years back. At present, he is in the lead in the polls.
Expanding Guests for a Discussion on AI
The summit meeting will be expanded today, inviting around a dozen heads of state and government from other countries. Pope Francis, head of over 1.3 billion Catholics, is participating in a discussion on Artificial Intelligence as part of this expansion. Additionally, he has scheduled multiple bilateral meetings.
The summit will take place at a luxury hotel on the Adriatic Sea and will last until Saturday. The heads of state and government have already agreed on a closing declaration, as host Giorgia Meloni announced. The group consists of the US, Canada, Great Britain, Japan, France, Italy, and Germany. As guests, the heads of state and government from India, Brazil, Saudi Arabia, and Turkey are expected.
Assistance without Guarantees
The US offers Ukraine additional support through the security agreement, even in the event of future attacks. The agreement encompasses military assistance, cooperation in the arms industry, and the exchange of intelligence information. It's intended to help Ukraine move towards NATO. Security guarantees or promises of using American military forces to defend Ukraine are not provided by the US, nor are pledges of aid from other countries. Kiev has similar agreements with more than a dozen countries, including Germany.
A Clear Response to Putin
German Chancellor Olaf Scholz (SPD) regards the new billions of aid as a clear message to Putin. "The Russian president has a clear strategy: He intends to continue waging his war as long as everyone else stops supporting Ukraine. And this plan has failed today," Scholz explained.
Meloni on supporting Ukraine: "This was an unforeseen outcome, which I am particularly pleased with." EU Commission President Ursula von der Leyen acknowledged a message to Putin: He will see that the damage he has caused will not be shouldered by European taxpayers, but by Russia itself.
EU Sanctions against Russia are almost ready
Von der Leyen anticipates a swift agreement among EU-states on new Russia sanctions. "We are practically at the last meters," she stated to dpa and other media. The intended sanctions aim to prevent Russia's circumvention of existing sanctions.
The US announced new sanctions against suppliers of weapons to Russia, which will also affect Chinese companies. China is considered an essential ally of Russia and supports Moscow on the international stage in this war.
Complicated Relations with China
Biden directly blamed China for Russia's war, saying, "By the way, China doesn't supply weapons but rather the ability to produce them and the technology required for that. In other words, it's helping Russia."
The G7 is also frustrated by the strained relations with China due to Russia's war. In the summit declaration, they accuse China of creating overcapacities and distorting competition through unfair practices such as subsidies. This undermines the economic resilience of G7 countries, including jobs in Europe. China could face additional sanctions as a result.
Read also:
- The initial sanctions implemented by the US against Russia are now followed by the European Union, targeting Russia with economic penalties at the G8 summit.
- During the G7 summit in Germany, Joe Biden proposed a billion-dollar aid package to help Ukraine, with the seven nations standing united in their support.
- Giorgia Meloni, the host of the G7 summit, announced that the heads of state and government have already agreed on a closing declaration.
- Olaf Scholz, the German Chancellor, views the new billions of aid as a clear message to Russian President Vladimir Putin, stating that his war strategy has failed.
- Russia faces additional punitive measures from the European Union, which is preparing to impose new sanctions against Russia.
- At the summit, Pope Francis participated in a discussion on Artificial Intelligence and had multiple bilateral meetings with the heads of state and government.
- Ukraine receives additional support from the US through a security agreement, but no guarantees or promises of military intervention are provided.
- The aid package proposed by Joe Biden serves as a reminder to Putin that the industrialized nations won't back down, and they will continue to support Ukraine until it has won the war.
- The US implemented new sanctions against Russia before the meeting in Italy, targeting suppliers of weapons, including Chinese companies.
- G7 leaders accuse China of creating overcapacities and distorting competition through unfair practices such as subsidies, which undermines the economic resilience of G7 countries.
- EU Commission President Ursula von der Leyen anticipates a swift agreement among EU-states on new Russia sanctions, aiming to prevent Russia's circumvention of existing sanctions.
- The US President Joe Biden accused China of providing Russia with the ability to produce weapons and technology required for its war.
- The G7 is considering additional sanctions against China due to Russia's war, as the strained relations between the two nations continue to be a concern during the summit.
