The leaders of the seven richest democracies in the world began this Thursday in Italy their annual summit in which they seek to close an agreement for an ambitious aid plan for Ukraine, financed with Russian assets blocked by the West.
According to the criteria of
The presidents of the United States, Joe Biden, and France, Emmanuel Macron, as well as the prime ministers of Canada, (Justin Trudeau), the United Kingdom (Rishi Sunak), Japan (Fumio Kishida) and Germany (Olaf Scholz) were received by the host, Italian Prime Minister Giorgia Meloni, for the traditional family photo at Borgo Egnazia, a luxury resort in the Apulia region of southern Italy.
What will be defined about Ukraine?
The G7, in which Ukrainian President Volodymyr Zelensky also participates as a guest, has “an irreplaceable role in managing global crises, particularly those that continue to put our freedom and democracy at risk.”Meloni said at the summit opening.
The plan for Ukraine seeks to use the interests generated by the nearly 300 billion euros ($325 billion) of Russian assets frozen by Western allies after the February 2022 invasion, as collateral to grant a credit of 50 billion dollars. to the country at war.
Pending an official announcement, German Finance Minister Christian Lindner said on Twitter that the deal is already closed while US national security advisor Jake Sullivan was more cautious and spoke of “very good progress.”
Zelensky announced on social networks that Ukraine will sign security agreements with the United States and Japan in Italy and expects “important decisions” at the summit.
A source familiar with the internal deliberations of the G7 told EFE that the G7 has reached a “provisional” agreement to grant Ukraine a loan of about 46 billion euros that will be financed with interest generated by the assets of the Russian central bank. that are frozen in the European Union (EU) and especially in Belgium.
According to the source, the countries’ negotiators, known as ‘sherpas’, have already reached a “provisional” agreement that It still needs to receive formal approval from each of the leaders, although none are expected to block it..
The final agreement is expected to be announced this Thursday when Zelensky participates with the group’s leaders in a specific session on Ukraine.
The war in Gaza, another key issue
The other big question that will be debated in Puglia is how to reach a truce in the war in the Gaza Strip between Israel and the Palestinian Islamist movement Hamas.
G7 leaders have announced their support for a truce proposal from Biden, which provides for the release of hostages taken by Hamas in Israel in the October 7 attack.
However, the Palestinian movement proposes certain amendments to the plan. According to Secretary of State Antony Blinken, “some changes are achievable, others are not.”
“The time for haggling is over,” Sullivan said, as Israel has not officially announced its stance on the truce and continues its offensive into the Palestinian territory.
Pope Francis, new AI guru?
The Italian prime minister, whose country holds the rotating presidency of the G7, also invited a dozen leaders who do not belong to the group, including the presidents of Brazil, Luiz Inácio Lula da Silva, and Argentina, Javier Milei.
Milei has bilateral meetings on the agenda on Friday with Meloni and the French president, as well as with the director of the International Monetary Fund, Kristalina Georgieva, and the World Bank, Ajay Banga.
In the thematic sessions and in the numerous bilateral meetings planned, other issues will also be addressed, starting with tensions with China, one of Russia’s main supporters.
The United States and Europe accuse Beijing of flooding markets with low-priced subsidized productsparticularly electric cars.
Added to the guest list are the Indian Prime Minister, Narendra Modi, the Turkish President Recep Tayyip Erdogan, King Abdullah II of Jordan and the Secretary General of the UN, Antonio Guterres.
But perhaps one of the most unexpected is Pope Francis, 87, who this time comes not only as a spiritual leader but also to give a talk on Friday about artificial intelligence and “algoretics” (the ethics of algorithms), an issue that worries the Vatican.
The summit is held in Borgo Egnazia, an exclusive resort located 60 kilometers south of Bari, the regional capital, totally away from the outside world and also from journalists.
The hotel complex, which imitates Italian architecture as if it were a theme park, is Madonna’s favorite on her trips to Italy and, among other services, has its own Michelin-starred restaurant.
#ambitious #financial #plan #Ukraine #war #Russia #summit #richest #democracies #world