IRIA News

The leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States arrived at the luxury resort of Borgo Egnazia in Puglia southern Italy on June 13, 2024, for the G7 meeting.

The G7 summit focused on critical issues like freezing Russian assets, enhancing support for Ukraine support, the migration crisis, ongoing war in the Middle East, and West-China tensions.

This year’s G7 summit carries significant weight as it could mark the final appearance of several key leaders. U.S. President Joe Biden faces a presidential election in November, and UK Prime Minister Rishi Sunak is expected to face a parliamentary election in early July. Both leaders, with their uncertain future, add a layer of urgency to the organization’s long-term policy-making.

France’s President Emmanuel Macron, reeling from poor results in the European elections, has called for snap legislative elections, while Germany’s Chancellor Olaf Scholz’s coalition is grappling with significant losses to the far-right. Among all the European leaders, the host and Italy’s Prime Minister Giorgia Meloni is the only one who has been bolstered by the strong performance of her far-right Brother of Italy party in the recent European elections.

Traditionally, the host country invites external guests to participate in some sessions. For this year’s summit, the Italian hosts have invited several African leaders, Algerian President Abdelmadjid Tebboune, Kenyan President William Ruto, and Tunisian President Kais Saied, to discuss Meloni’s migration and development initiatives.

Pope Francis also attended the meetings and became the first pope to address a G7 summit speaking on artificial intelligence. Other invitees include Ukrainian President Volodymyr Zelenskyy, Brazilian President Luiz Inácio Lula da Silva, Indian Prime Minister Narendra Modi, and Turkish President Recep Tayyip Erdogan.

UN Secretary-General Antonio Guterres and representatives from the International Monetary Fund (IMF) and World Bank also attended the meeting. The inclusion of non-G7 leaders aims to strengthen ties with important medium-sized powers and reduce their alignment with Chinese or Russian spheres of influence.

Pope Francis’ arrival at the #G7 Summit in Borgo Egnazia. #G7Italy pic.twitter.com/cENaJxqcaV

— G7 Italy (@G7) June 14, 2024

US-Ukraine Security Deal

A primary focus of the 2024 G7 leaders’ summit is the ongoing war in Ukraine. Ukrainian President Volodymyr Zelenskyy is also present in Italy to attend a session of the meeting. Zelenskyy pushing for increased support from Western allies.

U.S. President Biden and Ukrainian President Zelenskyy held a pivotal joint press conference after their bilateral meeting at the sidelines of the summit. The leaders announced the signing of a landmark bilateral security agreement between the United States and Ukraine. This significant 10-year security deal marks a robust commitment by the U.S. to support Ukraine amid its ongoing conflict with Russia.

The agreement underscores a comprehensive partnership aimed at enhancing Ukraine’s defense capabilities and ensuring long-term stability in the region. Key components of the deal include increased military aid, advanced weapons systems, intelligence sharing, and strategic training for Ukrainian forces. Additionally, the U.S. will provide substantial financial assistance to bolster Ukraine’s defense infrastructure and facilitate the procurement of cutting-edge military technology.

President Biden emphasized the importance of this agreement in deterring further aggression from Russia and reinforcing the international community’s support for Ukraine’s sovereignty and territorial integrity.

Today, President Zelenskyy and I signed an agreement to strengthen Ukraine’s defense and deterrence capability for years to come.

Peace for Ukraine must be underwritten by its ability to defend itself today and in the future.

The U.S. will help ensure Ukraine can do both. pic.twitter.com/OdKdjKZ7hZ

— President Biden (@POTUS) June 14, 2024

Biden highlighted the U.S.’s unwavering commitment to stand by Ukraine, stating, “This agreement is a testament to the enduring partnership between our nations and our shared dedication to upholding international law and order.”

President Zelenskyy expressed profound gratitude for the US’s continued support, noting that the security agreement would significantly strengthen Ukraine’s defensive posture. He remarked, “This deal is not just about military aid; it represents a powerful message to the world that Ukraine is not alone. Our partnership with the United States is crucial for the future security and prosperity of our nation.”

Japan commits $4.5 billion to Ukraine

Japanese Prime Minister Fumio Kishida signed a 10-year security deal with Ukraine and agreed to provide $4.5 billion in aid this year. This significant commitment comes at a crucial moment in Ukraine’s ongoing war with Russia and marks a notable shift in Japan’s international engagement.

“For Japan, this type of agreement and this level of support is a breakthrough,” Zelenskyy said on social media following his bilateral meeting with the Japanese leaders. “We see this and thank Japan for its unwavering solidarity.” Prime Minister Kishida of Japan, emphasized Japan’s commitment to Ukraine.

Japan’s Prime Minister Fumio Kishida @kishida230 and I have just signed a security agreement between Ukraine and Japan. A unique document with one of the world’s most economically and technologically advanced countries. 🇺🇦🇯🇵

In 2024, Japan will provide Ukraine with $4.5 billion…

— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) June 13, 2024

“We will do our utmost to ensure that peace is restored in Ukraine,” Kishida said in a statement earlier this week. This deal follows Japan’s previous commitments to Ukraine, including a $1 billion assistance package last December, with a promise to increase support to $4.5 billion.

Freezing Russian Assets

The G7 leaders discussed an innovative plan to freeze €300 Russian central bank assets and use the money as collateral for a substantial loan, potentially up to $50 billion, to secure Ukraine’s financing through 2025.

Biden pressed his G7 counterparts to agree on this strategy, despite some rifts between the U.S. and European governments over the details. This plan, while innovative, has sparked debates about the potential implications if the assets were to be unfrozen in the future.

Russian President Vladimir Putin branded the freezing of Russian assets as “theft” and said that such steps would “not go unpunished.” While speaking at a meeting with Foreign Ministry officials, Putin said the way the West had treated Moscow showed that any country could fall victim to a similar Western asset freeze. “Despite all the chicanery, theft will certainly remain theft. And it will not go unpunished”, Putin said.

“Now it is becoming obvious to all countries, companies, [and] sovereign funds that their assets and reserves are far from safe in both the legal and economic sense of the word.,” he said. “Anyone could be next in line for expropriation by the U.S. and the West.”

In addition to freezing its assets, G7 leaders also announce a new set of sanctions and export controls targeting Russia. These measures aim to cut off supplies to entities and networks that support President Vladimir Putin’s war efforts.

The U.S. president also brought up Washington’s plans to broaden the sanctions on semiconductor chips and other goods, particularly targeting third-party sellers in China. This move underscores the broader geopolitical tensions between the West and China.

In response to U.S. President Joe Biden’s allegation that China is supporting the Russian war efforts, a spokesperson for the Chinese Embassy in the United States, Liu Pengyu said, “China is not a creator of a party to the Ukraine crisis. We are committed to promoting talks for peace. China does not provide weapons to the parties to the conflict and strictly controls the export of dual-use articles, which is widely applauded by the international community.”

Gaza Ceasefire

The summit also addressed the Israeli war in Gaza, which has now been ongoing for nine months. Biden updated his counterparts on diplomatic efforts by Washington to broker a ceasefire between Israel and Hamas. The G7 leaders have already expressed support for a comprehensive ceasefire and hostage release deal for Gaza,

Speaking to reporters on the sidelines of a meeting of G7 leaders in southern Italy, White House National Security Adviser Jake Sullivan said the world should encourage Hamas to accept the proposal and avoid a stalemate.

“Our goal is to figure out how we bridge the remaining gaps and get to a deal,” he said, adding that discussions would continue with Qatar and Egypt, who, in turn, would work with Hamas to reach an agreement as quickly as possible.

Hamas has welcomed the ceasefire proposal, but insists any agreement must secure an end to the war, a demand Israel still rejects. Israel described Hamas’s response to the new U.S. peace proposal as total rejection.

Migration Issue

Migration and relations with Africa also remained on the agenda during the G7 meeting, reflecting Italian Prime Minister Meloni’s priorities. Her administration has emphasized African development through the so-called Mattei Plan, aiming to position Italy as a crucial energy hub between Europe and Africa.

The plan seeks to strengthen Italy’s influence in Africa, countering the growing presence of Russian interests. However, a series of coups in African nations have complicated these efforts, challenging European influence on the continent.

Italy “wanted to dedicate ample space to another continent that is fundamental to the future of all of us, which is Africa, with its difficulties, its opportunities,” Meloni said at the summit’s opening remarks.

“Linked to Africa, and not only to Africa, there is another fundamental issue that Italy has placed at the center of the presidency, which is the issue of migration, the increasingly worrying role that trafficking organizations are assuming, clearly exploiting the desperation of human beings,” she said.

Meloni is known for her controversial five-year agreement with neighboring Albania, under which the Balkan nation will host thousands of asylum-seekers while Italy processes their claims. She has also led the “Mattei Plan” for Africa, a continent-wide strategy aimed at boosting economic opportunities locally to discourage migration to Europe.

According to UNHCR figures, over 22,000 people have arrived in Italy by sea in 2024 so far. In 2023, more than 157,000 arrived, with nearly 2,000 dying or going missing during the dangerous Mediterranean crossing.

Fourth session of the #G7Italy Summit devoted to Migration pic.twitter.com/9aggRNiAx5

— G7 Italy (@G7) June 14, 2024