US President Biden and Ukrainian President Volodymyr Zelensky held a joint press conference while meeting on the sidelines of the G7 summit in the Fasano region of Italy.
At the start of their joint press conference, the two leaders, who signed a 10-year defense cooperation agreement between the United States and Ukraine, stressed the importance of the agreement for both NATO security and Ukraine’s defense bases.
In his speech on the agreement, Biden praised the decision to freeze some Russian financial assets outside Russian territory and to use $50 billion of this money for Ukraine, saying that in this way they could further support Ukraine.
The US military will not fight Russia
“Our goal is to strengthen Ukraine’s long-term defensive and deterrent capabilities. We want Ukraine to have the ability to defend itself against future aggression,” Biden said in his assessment, adding that the United States would support the country with weapons, ammunition and other assistance without sending U.S. troops.
Biden noted that the defense agreement he signed with Zelenskyy is a commitment to peace and is in accordance with the UN Charter and the principles of national sovereignty.
Biden stressed that he would continue to support Ukraine against Russian aggression, announced new sanctions against Russia and said he would continue taking steps in this direction.
Zelensky thanks the US
Ukrainian President Volodymyr Zelensky also expressed gratitude to the United States for the agreement, which he said would deepen and qualify defense cooperation between the two countries.
At the G7 summit held in Italy, it was decided to provide Ukraine with a $50 billion loan by the end of 2024, secured by interest income from the Russian Central Bank’s frozen assets.
Since the start of the Russia-Ukraine war, Western countries have frozen nearly $300 billion in Russian assets, of which about $200 billion is in the European Union.
The frozen assets will generate billions of dollars in interest income each year, which the G7 countries, and especially the United States, would like to use to support Ukraine.
