BARI - G7 leaders agreed Thursday on a new $50 billion loan for Ukraine using profits from frozen Russian assets, a move Joe Biden said showed Moscow"we're not backing down".
At a joint press conference with the Ukrainian leader afterwards, Biden said the deal emphasised to Russian President Vladimir Putin the long-term commitment of Kyiv's allies. He would not say how much other G7 countries would contribute, nor did any other leaders on Thursday.G7 countries, which count the EU as their unofficial eighth member, have been Ukraine's key military and financial backers since Russia invaded in February 2022.
"The basis has been created for Ukraine to be in a position to procure everything it needs... in the near future, in terms of weapons but also in terms of investment in reconstruction or in energy infrastructure," he said.