The United States and Ukraine signed off Thursday on a 10-year security agreement, with the leaders of the Group of Seven nations pledging to arrange a $50 billion loan to Ukraine as well. The security deal, which was signed by President Joe Biden and Ukrainian President Volodymyr Zelensky ahead of a joint news conference on the sidelines of the annual G7 summit in southern Italy, will boost weapons-production cooperation, provide other military assistance, and increase intelligence sharing. Additionally, the agreement also commits the Pentagon to another 10 years of training Ukraine’s military forces.
Funding for the package will come out of the $60 billion Congress allocated to Ukraine defense spending as part of a supplemental funding bill approved in April. Furthermore, the U.S. is also expected to announce that it is sending Kyiv a second Patriot missile system, which Zelensky has claimed is critical to their defense against Russian air and missile strikes on civilian infrastructure.
However, the official announcement of the Patriot donation did not come Thursday. Biden, whose election rival Donald Trump is vowing to personally negotiate an end to the war if he wins on November 5th, used the press conference to emphasize U.S. support for Kyiv.
Meanwhile, the G7, which includes Canada, France, Germany, Italy, Japan, the United Kingdom, the US and the European Union announced the details of the $50 billion loan. The loan would mostly be guaranteed by Washington and backed by profits earned on roughly $260 billion in immobilized Russian assets, the majority of which are held by European nations. The loan is due to be officially announced Friday. In April, Congress passed and Biden signed into law the so-called REPO Act, short for Rebuilding Economic Prosperity and Opportunity for Ukrainians Act, which allows the White House to seize $5 billion in Russian state assets in the U.S. and use them for the benefit of Kyiv. Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts |
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