Friday Briefing

G7 leaders agreed to springiness Ukraine a $50 cardinal loan

At the G7 acme successful Italy, the subordinate countries agreed connected a program to give Ukraine a $50 cardinal loan to assistance it bargain weapons and statesman to rebuild damaged infrastructure. The caller indebtedness comes astatine a important infinitesimal successful the war, erstwhile Russia has the momentum connected the battlefield.

The indebtedness is expected to beryllium repaid utilizing involvement earned connected astir $300 cardinal successful frozen Russian assets, which are mostly successful European banks. In our Opinion section, Janet Yellen, the U.S. Treasury secretary, explained however the indebtedness volition work.

President Biden besides signed a 10-year information pact with Ukraine’s government, to amusement a semipermanent U.S. committedness to the country. It’s designed to beryllium a span to Ukraine’s rank successful NATO. Japan signed a 10-year information statement with Ukraine arsenic well, which included a pledge of $4.5 billion.

Separately, NATO’s defence chiefs gathered yesterday successful Brussels to pledge further weapons to Kyiv. They besides met to hole semipermanent subject commitments to beryllium announced adjacent period astatine a acme successful Washington. One boost for Ukraine: an statement that Hungary would not lend to the subject alliance’s warfare effort — but besides would not artifact it.

Biden’s angle: The information statement is the president’s latest effort to transportation allies that the U.S. volition proceed backing Ukraine adjacent if Donald Trump wins the presidency this fall. But the statement could beryllium fleeting — it contains a proviso that allows either broadside to terminate it with six months’ notice.

More connected the G7: Most leaders arrived astatine the acme beleaguered, embattled oregon endangered. Many of them are facing elections that whitethorn weaken their positions. Read much astir the summit.