Elmau: Leading economic powers exchanged video links with Ukrainian President Volodymyr Zelenskyy on Monday as they underlined their commitment to Ukraine over the long haul with Russia’s plan to pursue a cap on oil prices, raising tariffs on Russian goods and impose other new sanctions.
In addition, the US is also preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv to help Ukraine counter the aggression of Vladimir Putin. The US is also preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv.
The new aid and efforts to precisely penalize Moscow from the Group of Seven come as Zelenskyy openly worries that the West has grown weary of the costs of a war that is contributing to the economic crisis. increase the cost of energy and increase the price of essential commodities around the globe.
The leaders are finalizing an agreement to seek a price cap for the three days of the G-7 summit in the German Alps. According to a senior administration official who spoke on condition of anonymity, details of how the price ceiling will work, as well as its impact on the Russian economy, will be addressed by G-finance ministers. 7 in the coming weeks and months. to preview announcements from the summit.
The largest democratic economies will also pledge to increase tariffs on Russian imports into their countries, with the US announcing new tariffs on 570 types of goods, as well as the use of sanctions. targeting Russia’s defense supply chains to aid reconstruction efforts during the war. .
Biden is expected to announce that the US is buying NASAMS, an air defense system developed by Norway, to provide mid- to long-range defense, according to a person familiar with the matter, who hid name says. NASAMS is the same system used by the US to protect the sensitive airspace around the White House and US Capitol in Washington.
Additional aid includes additional ammunition for Ukrainian artillery, as well as jet radars, to support the country’s efforts against the Russian attack in the Donbas, the person said. Biden is also announcing a pledge of $7.5 billion to help the Ukrainian government cover its costs, as part of cuts to a $40 billion economic and military aid package he signed into law. law last month.
The G-7 leaders began their three-day summit on Monday with a focus on Ukraine. They will then bring together the leaders of five emerging democratic economies – India, Indonesia, South Africa, Senegal and Argentina – to discuss climate change, energy and other issues. other topic.
The war in Ukraine was already on the minds of the G-7 leaders as they opened the summit at the secluded Schloss Elmau luxury hotel on Sunday, just as Russian missiles hit the capital Kyiv of Ukraine for the first time in weeks.
German Chancellor Olaf Scholz, who chaired the conference, said the G-7’s policy on Ukraine was “very appropriate” and that they saw the need to be tough and cautious.
Scholz said after meeting with Canadian Prime Minister Justin Trudeau on Monday that? We are making tough decisions, that we are also cautious, that we will help … Ukraine as much as we can but we also avoid that there will be a major conflict between Russia and NATO? .
He added that “this is the key – to be tough and to think about the necessities of the times we live in”.
Mr. Biden said on Sunday that Russian President Vladimir Putin “believed from the beginning that somehow NATO and the G-7 would separate, but we didn’t and we won’t.” .
Biden hopes to use his trip to Europe to announce the unity of the alliance that is pressing for sanctions on Russia for its invasion of Ukraine, as well as urging allies to do more, find ways to counter those threats. doubts about their ability to endure as the war enters its fifth phase. month.
The summit’s host, German Chancellor Olaf Scholz, said last week he wanted to discuss the outlines of the “Marshall plan for Ukraine” with G-7 partners, referring to the US-funded plan. aid helped revive European economies after World War II. .
With the war still raging and the devastation increasing, this is not a blueprint at this stage. Scholz has said that “reconstructing Ukraine will be the task of many generations.”
The G-7 has pledged financial support for Ukraine’s immediate needs. The group’s finance ministers last month agreed to provide $19.8 billion in economic aid to help Kyiv keep basic services running and prevent tight finances from hampering defenses country against Russian forces.
A senior US administration official, who spoke on condition of anonymity to discuss private conversations between G-7 leaders, said the US and Europe are both aiming to negotiate an end to the conflict, even when their roles sometimes seem different.
Scholz and French President Emmanuel Macron tried to facilitate through active conversations with Russian Presidents Vladimir Putin and Zelenskyy, and also to supply arms to Ukraine. The United States has cut off most of the important negotiations with Russia and aims to strengthen Ukraine’s battlefield capabilities as much as possible so that its final position on the negotiating table becomes stronger.
The tolerance of tough sanctions on Russia may ultimately depend on whether the G-7 and other leaders can identify ways to ease energy supply problems and prices soar when winter arrives, as they seek to withdraw from Russia’s fuel sources.
The G-7 meeting was set in the middle of a European Union summit last week that agreed to hand Ukraine over as a candidate for membership, kicking off a process that could take years. which does not guarantee success and a summit of NATO leaders will begin Tuesday in Madrid.
The leaders of the G-7 – the US, Germany, France, the UK, Italy, Canada and Japan – can hope to make some progress in bringing in their counterparts from their five guest countries. closer to the Western view of sanctions against Russia.
Scholz is also eager to win such countries because of his idea of a “climate club” for countries that want to speed things up when it comes to solving the problem.