The leaders of the G7 have agreed to send Ukraine $50bn (£39bn) by the end of the year by using Russian assets frozen in Europe.
The
countries came to an agreement on Wednesday after significant pressure from the US, which has argued the profits from Russian assets should be used to secure loans for Kyiv.
The
deal will provide a major funding boost for Ukraine as it enters another summer of conflict with Russia, after making fewer territorial gains than expected this Spring.
The US separately said it would sign a security agreement with Kyiv to lock in American support for a decade, amid concerns about the impact a second
Donald Trump presidency could have on Ukraine’s warfighting ability.
Jake Sullivan, the White House national security adviser, said the US would “be sending Russia a signal of our resolve” by making sure that support will “last long into the future”.
The agreement will include a commitment to working with the US Congress on funding Ukraine going forward but will not commit to using American forces on the ground.
The deal, which will also be signed by 15 other countries, will pledge continued weapon shipments and training programmes to
build Kyiv’s armed forces, as well as commitments for greater intelligence sharing and joint defence industrial projects.
The two deals will come as a major boost to Ukraine ahead of the next Nato summit in July, where leaders are expected to outline further security commitments but refuse to move the country closer to joining the alliance.
The $50bn in loans will be secured against the profits from Russian assets frozen in Europe since Vladimir Putin’s invasion of Ukraine in February 2022.
Speaking ahead of the G7 summit in Italy tomorrow, the Elysee Palace in Paris said: “We have an agreement.”
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