President Biden seeks to bolster international support for Ukraine, including potential use of frozen Russian assets.
President Joe Biden is traveling to Italy this week to meet with world leaders at the G7 summit, where he will seek to secure additional aid for Ukraine amidst ongoing struggles against Russia’s invasion. The summit, set in Apulia, Italy, will focus on reinforcing Ukraine’s defense capabilities and discuss using $300 billion in frozen Russian assets to support Ukraine’s military efforts.
The summit comes at a time when American public support for sending weapons to Ukraine has waned. The Biden administration plans to propose a combination of new sanctions and export controls on Russia, targeting the entities that help sustain the Russian war effort. The G7 is expected to discuss the logistical and financial details of seizing Russian assets to provide Ukraine with more resources for its defense.
One of the key proposals under discussion is for the G7 nations—France, Canada, Japan, the UK, Italy, and Germany—to provide Ukraine with $50 billion upfront, with plans to recoup the amount over the next decade through interest on Russia’s frozen assets. Biden’s push for this solution has encountered some resistance from European leaders, who prefer using only the interest from the assets.
While Biden has expressed optimism about reaching an agreement with French President Emmanuel Macron, the G7 faces internal challenges in agreeing on the most effective strategy to mobilize resources for Ukraine. Biden has also emphasized the broader geopolitical stakes, suggesting that if Russia succeeds in Ukraine, it could embolden President Putin to target other NATO countries, potentially igniting a wider conflict.
Biden’s advocacy for Ukraine includes military assistance, with the U.S. having already committed significant aid. In Paris, Biden met with Ukrainian President Volodymyr Zelenskyy, announcing a $225 million weapons package. Biden’s continued focus on Ukraine during the G7 summit is part of a broader strategy to keep international support intact, even as domestic backing in the U.S. appears to be decreasing.