US President Joe Biden and Ukrainian President Volodymyr Zelenskyy have signed a landmark 10-year agreement aimed at strengthening Ukraine’s defenses against Russia’s invasion.
Zelenskyy hailed the new security deal, signed on Thursday, as the “strongest agreement” since Ukraine’s independence in 1991. He called it a “truly historic day.”
However, Zelenskyy expressed concerns about the longevity of the unity between the two nations, given the upcoming US elections and the possibility of Donald Trump returning to the White House. Biden reassured Zelenskyy, stating, “They’ll have what they need,” referring to Ukraine’s defense needs.
Trump has previously been skeptical about providing additional military aid to Ukraine, criticizing the “endless flow of American treasure.” Recently, he has shown openness to lending money instead and acknowledged the importance of Ukraine’s independence to the US.
Both leaders spoke on the sidelines of the annual Group of Seven (G7) summit in southern Italy. Biden emphasized the goal of the agreement: “Our goal is to strengthen Ukraine’s credible defense and deterrence capabilities for the long term.”
The agreement stipulates that in the event of an armed attack or threat against Ukraine, top US and Ukrainian officials will meet within 24 hours to determine the necessary defense needs. The text also recognizes the need for Ukraine to have a significant military force and robust capabilities consistent with NATO standards.
Meanwhile, G7 leaders approved a $50 billion loan package for Kyiv. This financial support, along with the security agreement, is intended to demonstrate to Russian President Vladimir Putin that the world’s leading industrialized democracies are united in their support for Ukraine.
Biden highlighted that the collective actions, including new sanctions against Russia, send a clear message to Putin that he cannot outlast or divide them.
A senior US official mentioned that the US and European countries have agreed to keep sanctioned Russian assets locked until Moscow pays reparations for its invasion of Ukraine. This decision facilitated the announcement of the loan package for Ukraine, leveraging interest and income from over $260 billion in frozen Russian assets, mostly held in Europe.
Ukraine will receive the first payments this year and can use the funds for military, economic, humanitarian, and reconstruction needs. The leaders’ statement also left the possibility open for confiscating the Russian assets entirely, though legal and financial stability concerns remain.
In addition to Ukraine, the allies also focused on other global issues. Biden announced Italy’s participation in a G7 initiative to provide development assistance to Africa, countering growing Chinese influence on the continent. He emphasized that the $60 billion mobilized by the US and the G7 demonstrates that “democracies can deliver.”
The G7 summit, held in Italy’s picturesque Puglia region, saw leaders discussing various mutual concerns, including the war in Gaza and support for Ukraine. The informal grouping includes the US, Britain, Canada, France, Germany, Italy, Japan, and European governing bodies.
