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At the G7 summit, leaders endorsed a U.S.-backed plan to use the interest from frozen Russian assets to secure a $50 billion loan for aid to Ukraine. The allies intend to work out the details in the coming months. The day prior, the administration announced new measures designed to deter foreign support for Russia’s war machine.
On the summit’s sidelines, the American and Ukrainian presidents signed a 10-year bilateral security agreement. Biden hopes the pact will signal that Moscow cannot outlast U.S. support, although a future administration could always tear it up. Under the deal, Washington committed to continue providing military and economic assistance, while Kyiv promised to pursue further reforms and to continue facilitating end-use monitoring. The next week, Ukraine’s parliament, thanks in part to U.S. pressure, passed key reform legislation to reboot the country’s Economic Security Bureau.
To help meet Ukraine’s need for air defenses, Biden reportedly approved the transfer of another Patriot fire unit. Washington is also working on securing more Patriots from Israel. In addition, the administration gave Kyiv top priority for exports of newly made Patriot and NASAMS missiles, expected to begin arriving by summer’s end. Meanwhile, since Congress passed the aid bill in April, the resumption of regular U.S. assistance seems to have eased Ukraine’s shortage of artillery ammunition.
CNN reported Biden will likely allow American contractors to go to Ukraine to expedite maintenance and repair of U.S.-provided military equipment. However, despite pressurefrom Kyiv and European allies, Biden continues to bar Ukraine from using ATACMS missiles inside Russia.
We must stop him. pic.twitter.com/Y4NbdfpCVq
— Joe Biden (@JoeBiden) July 2, 2024
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