G-7 Reportedly To Commit To Supporting Ukraine ‘As Long As It Takes’

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Carlie Porterfield   Forbes U.S. Staff

G-7 Reportedly To Commit To Supporting Ukraine ‘As Long As It Takes’

U.S. President Joe Biden speaks during the G7 summit at Schloss Elmau on June 26, 2022 near Garmisch-Partenkirchen, Germany. Photo President Biden Twitter.

 

Topline

The leaders of the Group of Seven advanced economies will commit to provide Ukraine military and financial aid in its war against Russia “for as long as it takes,” according to a draft declaration seen by Bloomberg from the group’s summit in Germany, which could allay concerns in Kyiv that some European countries would like to push Ukraine to negotiate a settlement to the war in the near term.

Key Facts

The countries are set to pledge to continue providing financial, humanitarian, military and diplomatic support to Ukraine as it fights off the Russian invasion that began in February.

The G-7 aso committed to addressing the “international impacts of Russia’s aggression,” especially on what it called “the most vulnerable,” according to Bloomberg.The draft indicates the G-7 leaders are also mulling using tariff revenue to help fund their support of Ukraine, according to the outlet.

Big Number

The U.S. has committed $6.1 billion in military aid to Ukraine since Russia attacked in February, including a $1 billion package announced June 15 that includes anti-ship missile systems, rockets, howitzers and artillery shells,, and a $450 million package announced Thursday that includes four more HIMARS long-range artillery systems.

Crucial Quote

“We have to stay together, because Putin has been counting on–from the beginning–that somehow NATO and the G-7 would splinter, but we haven’t and we’re not going to,” Biden said Sunday, according to the Associated Press.

Key Background

While countries in the west rallied around Ukraine after Russia invaded, four months into the conflict the world is experiencing the economic toll from the war, like rising gas prices and inflation. Ukrainian officials have complained that Germany and France have not done enough to support Kyiv in the war, and have worried that they will be pushed to negotiate an end to it sooner than they would like amid rising concern in some European countries over the economic damage.

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Carlie Porterfield   Forbes U.S. Staff

I am a Texas native covering breaking news out of New York City. Previously, I was a Forbes intern in London. I am an alum of City, University of London and Texas State University.