President Joe Biden is in Italy Thursday, June 13, for the G7 summit, where he is expected to sign a 10-year bilateral security pact with Ukraine. This agreement is said to better strengthen the long-term security relationship between the two nations, with commitments to continue training Ukrainian armed forces, enhance weapons production cooperation and increase intelligence sharing.
The G7 is an informal group that holds an annual summit where leaders from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States come together to discuss economic policy and security issues. Ukrainian President Volodymyr Zelenskyy is also joining.
The G7 leaders are also set to endorse a plan to provide Ukraine with $50 billion in loans, using frozen Russian assets to fund the initiative.
White House National Security Advisor Jake Sullivan mentioned that, while the major aspects of the plan have been agreed upon, some details will still need to be finalized.
Additionally, on Wednesday, June 12, the U.S. expanded its sanctions against Moscow to include Chinese companies that supply semiconductors. This move aims to pressure Beijing over its support for Russia and address issues of industrial overcapacity.
The summit will also address other critical global issues, including the middle east, migration, and artificial intelligence.
