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G7 reaffirms support for Ukraine’s defense, financial needs

G7 reaffirms support for Ukraine’s defense, financial needs

The Group of Seven on Thursday reaffirmed its support for Ukraine’s defense, addressing both its urgent short-term financing needs and long-term reconstruction. Germany will host a Ukraine recovery conference in Berlin this year, while Italy will host the conference in 2025.

U.S. Secretary of State Antony Blinken told Ukrainian Foreign Minister Dmytro Kuleba at a bilateral meeting on the margins of G7 foreign ministers talks in Capri, Italy, that the United States is committed to helping Kyiv defend its sovereignty and territorial integrity against Russia’s aggression, including the recent attacks on Ukraine’s energy infrastructure.

Recent attacks on Ukraine’s Zaporizhzhia Nuclear Power Plant have raised concerns about the potential for a major nuclear accident.

Blinken also underlined the urgency of U.S. congressional action on aid for Ukraine.

The Republican-controlled House of Representatives is expected to hold its much-anticipated vote on aid for Ukraine, Israel and the Indo-Pacific as early as Saturday.

“In these turbulent times, it is a hopeful sign that there are now signals from the Republicans in the U.S. that support for Ukraine can be continued intensively,” German Foreign Minister Annalena Baerbock said during a news conference.

NATO Secretary-General Jens Stoltenberg and Kuleba later participated in the G7 foreign ministers session focusing on supporting Ukraine.

Stoltenberg said the alliance is actively working to provide additional air defense systems soon.

In Washington, the G7 finance ministers wrapped up talks on the margins of the International Monetary Fund and World Bank Group spring meetings earlier this week.

In a statement, G7 finance ministers said they are working with the European Union to “provide stable, predictable and sustainable financial support” covering a portion of Ukraine’s financing needs until 2027, including through support for investment and access to finance.

“We reiterate our commitment to support Ukraine’s long-term recovery and reconstruction needs, which the World Bank currently estimates to amount to almost USD 486 billion over 10 years,” the finance ministers said in the statement.

Some information for this report came from Reuters.