US President Joe Biden and Ukrainian President Volodymyr Zelenskyy inked the ten-year bilateral defense agreement as a gesture of support during the Group of Seven Nations (G7) Summit. The agreement, which was signed on Thursday, will enable the war-torn country to get one step closer to joining the North Atlantic Treaty Organisation (NATO) while also strengthening Ukraine’s defense against Russia.
Joe Biden asserted that “democracies can deliver” while declaring that the G7 economies of Western nations had also come to a consensus upon which to mobilize an extra $50 billion in aid for Ukraine. The member countries will get aid through the currently blocked Russian assets.
Negotiated during the G7 meeting in Italy, the deal seeks to bind future American administrations in assisting Kyiv, according to officials, regardless of the outcome of November’s election involving former President Donald Trump.
At a news conference with Zelenskiy, Biden said that their objective is to fortify Ukraine’s defence and deterrent capabilities continuously.
According to the reports, the agreement is the basis for a continuous effort to assist in modernizing Ukraine’s outdated armed forces and function as a step towards potential entry to the NATO.
Ukraine’s Historic deal
President Volodymyr Zelenskyy described the deal as historic and regarded it as a step towards his nation’s eventual membership in NATO. Zelenskiy has been pursuing NATO membership for a while, but the partners have not moved forward with that move. According to Article Five of the alliance’s treaty, any attack on one of the 32 members is considered an attack on all.
According to the agreement, in a testament to their commitment, key U.S. and Ukrainian officials will convene within 24 hours in the case of an armed attack or threat against Ukraine to discuss possible responses and identify any extra defence requirements that may be necessary.
In light of Russia’s escalating aggression on Ukraine’s eastern front, the agreement reaffirms US support for Ukraine’s defence of its sovereignty and territorial integrity. It also outlines intentions to strengthen Ukraine’s armed forces and grow its own defence sector. Given that Trump is leading Biden in the majority of election polls, it is uncertain what is going to happen to the agreement in the future.
Trump Incoming?…
Trump has shown doubt about Ukraine’s ongoing struggle, claiming on one occasion that he would put a stop to the conflict on his first day in office. Additionally, Trump has advocated for stronger European backing for Kyiv.
When asked what may happen to his nation in the event that the US and other allies saw a change in leadership, Zelenskiy responded that people supported Ukraine because they had similar principles and sympathized with its people. He expressed his belief that public support will remain unchanged.
Biden recently changed his stance on allowing Kyiv to launch long-range American missiles towards Russian targets close to the battered Ukrainian city of Kharkiv, abandoning his earlier policy of forbidding Kyiv from using American weapons for operations inside Russia. Biden made it plain during the press conference that he would not allow Ukraine to increase the number of US missiles it uses inside of Russia.
The G7 countries came to a tentative agreement to use the profits from the sale of Russian sovereign assets that were placed under embargo to finance a $50 billion loan to Ukraine. The agreement called for the establishment of a loan syndicate in which several lenders would share risk. However, neither the US nor the EU will control every aspect of the initiative.
Furthermore, the earnings from the frozen Russian state assets will be used to pay the interest on the huge loans rather than coming from Ukraine. Additionally, the Biden administration is making efforts to guarantee that Ukraine receives the credit well in advance of the much-awaited US presidential elections. In this manner, even if Trump wins the presidency, it will be difficult for the fund to fall apart.
