BARI.- Within the framework of the G7 summit held in Italy, USA announced on Thursday a security agreement with Ukraine with a duration of 10 years, designed to provide continuous support against the Russian invasion.
“The United States is sending a powerful signal today of our strong support for Ukraine, now and in the future,” said a US statement that accompanied the announcement of the agreement, before the official signing by President Joe Biden and Ukrainian President Volodymyr Zelensky.
This agreement, similar in many ways to the one the United States has with Israel, commits Washington to training the Ukrainian army, providing defense equipment, conducting joint exercises and cooperating in the defense industry.
However, unlike a commitment to a NATO member, the United States is not obligated to send troops to defend Ukraine in the event of a direct conflict.
Freeze Russian assets in the US
The United States and European countries have agreed to freeze Russian assets until Russia pays reparations for its invasion of Ukraine, a U.S. official said Thursday.
This decision facilitates a $50 billion credit package for Ukraine during the Group of Seven summit, where US President Joe Biden will sign a security agreement with Ukrainian President Volodymyr Zelensky.
The deal will leverage interest and proceeds from more than $260 billion in frozen Russian assets, mostly in Europe, to secure a $50 billion loan from the United States and additional loans from other partners. The first disbursements will be made this year, although Ukraine will need time to use all the funds, the official said on condition of anonymity to provide a preview of the agreement, which will be included in the G7 leaders’ statement on Friday.
The agreement also contemplates the possibility of fully seizing Russian assets, although allies still need political approval due to concerns about legal and financial stability.
Source: With information from AFP and AP
