A Group of Seven summit is set to begin Thursday with an agreement on a U.S. proposal to provide a $50 billion loan to Ukraine, using frozen Russian assets as collateral. This move is a strong display of support for Kyiv as Europe’s political landscape shifts to the right.
Diplomats have confirmed that the agreement on the loan was reached before the leaders arrived in southern Italy for the three-day summit. Ukrainian President Volodymyr Zelenskyy is present and is expected to sign a separate security agreement with U.S. President Joe Biden.
In addition to discussing the war in Ukraine, Pope Francis will address the G7 summit, becoming the first pope to do so. He will speak on Friday about artificial intelligence and is also expected to call for an end to the conflicts in Ukraine and Gaza.
The G7 countries include Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Italy, the host of the summit, has invited several African leaders to discuss development and migration initiatives.
Other guests at the summit include the presidents of Brazil, India, and Turkey. With upcoming elections for leaders like Biden, UK Prime Minister Rishi Sunak, and French President Emmanuel Macron, there is pressure on the G7 to accomplish as much as possible while the current leadership is in place.
Frozen Russian assets to support Ukraine
The U.S. proposal involves providing a $50 billion loan to aid Ukraine in its conflict with Russia, using interest from frozen Russian assets as collateral. However, the technical and legal details of accessing these assets still need to be worked out.
Aside from the loan, the UK has pledged nonmilitary aid of up to $310 million to Ukraine. The U.S. has also expanded sanctions against Russia to target Chinese companies supporting Russia’s military efforts.
Europe’s new political landscape
Italian Premier Giorgia Meloni is entering the summit with strong support at home and abroad, following her party’s success in recent elections. Germany and France, on the other hand, are facing challenges from right-wing parties.
These political shifts could influence the discussions at the summit, with Meloni likely to focus on key agenda items. There are some disagreements among the G7 members on certain topics, such as sexual and reproductive health.
The pope and artificial intelligence
Pope Francis will address the ethical development and use of artificial intelligence at the summit. He has raised concerns about the impact of AI on various aspects of society, including the most vulnerable populations.
Location and security
The summit is taking place at a luxury resort in Puglia, Italy, which has been transformed to resemble a medieval village. Security measures are in place to protect the leaders and attendees, with protests and demonstrations happening outside the venue.
