G7 Meet Highlights| EU may front about half $50 bln loan to Ukraine linked to frozen Russian assets

Wounded leaders of the West gather in Italy to discuss an unruly world

A surge in populism could divide the Western leaders on some issues and play to advantage of their biggest rivals on others. Far-right parties tend to be more hostile to free trade but friendlier to China and less supportive of harsher sanctions on Putin. These are all issues that will loom large when the leaders sit down Thursday in the coastal town of Fasano.

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G7 leaders seek deal to use interest from Russian assets for Ukraine

For a second year running, Ukrainian President Volodymyr Zelenskyy will attend the summit, taking part in talks on Thursday, and he is due to sign a new, long-term security accord with US President Joe Biden.

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Explained | How G7 nations hope to counter Russia and China’s axis of resistance

Faced with two brutal wars, can the G7 muster enough economic, military and persuasive power to stave off the biggest threats to the democratic-led global order since World War II? The battle lines of this new era of geo-economic fragmentation are drawn.

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US President Joe Biden arrives for G7 Summit

Italian Prime Minister Giorgia Meloni receives US President Joe Biden, as he arrives for the 50th G7 Summit

Italian PM Giorgia Meloni receives French President Emmanuel Macron

Canadian Prime Minister Justin Trudeau, arrives for the 50th G7 Summit

President of the European Council Charles Michel arrives in Borgo Egnazia resort for the 50th G7 Summit

German Chancellor Olaf Scholz arrives in Italy to attend the G7 summit

Italian PM Giorgia Meloni receives Japanese PM Fumio Kishida, as he arrives for the 50th G7 Summit

Italian PM Giorgia Meloni receives United Kingdom PM Rishi Sunak, as he arrives for the 50th G7 Summit

Leaders arrive for summit, PM Modi to land soon

"We did it (chose Puglia) because this land is historically a bridge between West and East, it is a land of dialogue at the center of the Mediterranean, writes Meloni

Pope Francis will meet with the leaders of the United States, Ukraine, France and India on the sidelines of the Group of 7 (G7) summit in Italy's Borgo Egnazia

In turbulent times the strongest message we can send is unity, writes Ursula von der Leyen

European Commission president Ursula von der Leyen took to social media to talk about the relevance and importance of G7 Summit.

She wrote, "In turbulent times the strongest message we can send is unity. Today the G7 in Bari will show unity. Unity for Ukraine's freedom. We work on further financial support. Unity for a peaceful and stable Middle East and the three-phase plan. Unity on a free and open Indo-Pacific."

UK imposes first sanctions targeting ships breaching Russian oil restrictions

Britain on Thursday imposed its first sanctions targeting vessels in Russian President Vladimir Putin’s "shadow fleet" that it said was used to circumvent Western sanctions and continue trade in Russian oil, news agency Reuters reported

Ukraine power sector to receive $1 bln aid from allies, ministry says

Ukraine will receive around $1 billion from allies and G7 countries to support its energy sector, which has been damaged by a series of Russian missile attacks, Ukraine's energy ministry said on Thursday, Reuters reported.

I am travelling to Apulia region in Italy to participate in the G7 Outreach Summit on 14 June 2024. I am glad that my first visit in the third consecutive term is to Italy for the G-7 Summit, writes PM Modi

Prior to his departure to Italy for the G7 Summit, Prime Minister Modi posted a statement saying, "I am travelling to Apulia region in Italy to participate in the G7 Outreach Summit on 14 June 2024. I am glad that my first visit in the third consecutive term is to Italy for the G-7 Summit. I warmly recall my visit to Italy for the G20 Summit in 2021...

"During the discussions at the Outreach session, the focus would be on artificial intelligence, energy, Africa, and the Mediterranean. It will be an opportunity to bring greater synergy between the outcomes of the G20 Summit held under India’s Presidency and the forthcoming G7 Summit, and deliberate on issues which are crucial for the Global South. I am also looking forward to meeting other leaders participating in the Summit."

Agencies report Ukraine President Zelenskyy has landed in Italy

News agencies report that Zelenskyy has arrived in Italy for the 50th G7 Summit.

Though, Ukraine is not a member of the G7, this is an important summit for the country which has been fighting its neighbour Russia since it invaded the country in 2022.

This week the G7 leaders will aim to boost funding for Ukraine in its war with Russia.

PM Modi said the summit would focus on artificial intelligence, energy, Africa, and the Mediterranean

Modi departs for Italy

"I will be attending the G7 Summit in Italy. I look forward to meeting fellow world leaders and discussing a wide range of issues aimed at making our planet better and improving lives of people," Modi posted on X.

US, European nations agree to lock up Russian assets until Moscow pays for Ukraine war, clearing the way for USD 50 billion loan

Reuters report that G7 has agreed on a $50bn loan to Ukraine backed by interest from Russian assets

A senior US official has told Reuters, the G7 countries have reached agreement on tapping future interest from about $300 billion in frozen Russian assets to provide a $50 billion loan to Ukraine.

Though the details are still being finalised, the news comes against the backdrop of Russia-Ukraine war which began two years ago when Russia invaded Ukraine on February 24, 2022.

G7 leaders worried by situation on Lebanon border—draft communique

Reuters reports  G7 leaders are very concerned by the situation on the Israel-Lebanon border and endorse US efforts to secure a ceasefire in the Gaza Strip, according to a draft communique due to be released following this week's G7 summit.

Ukraine, Japan sign 10-year term security agreement

Ukraine and Japan on Thursday signed a security agreement on the sidelines of the G7 summit, President Volodymyr Zelenskyy said.

"In 2024, Japan will provide Ukraine with $4.5 billion and will continue to support us throughout the agreement’s entire 10-year term," he said on X.

Zelenskyy asks G7 leaders to approve 'Marshall Plan' for Ukraine reconstruction

Ukrainian President Volodymyr Zelenskiy asked the leaders of the G7 group of countries on Thursday to approve a "Marshall Plan" for Ukraine's reconstruction after the damage caused by Russia's invasion.

All G7 to contribute to $50 bln Ukraine loan backed by Russian asset proceeds

All G7 countries will contribute to a loan package worth some $50 billion to Ukraine backed by proceeds from immobilised Russian assets, European Commission President Ursula von der Leyen said on Thursday, Reuters reported.

EU may front about half $50 bln loan to Ukraine linked to frozen Russian assets, official says

 The European Union may contribute about half of a $50 billion G7 loan package backed by proceeds from immobilised Russian assets, a senior EU official said on Thursday.

The official, speaking on condition of anonymity, said final figures had still to be agreed, Reuters reported.

German chancellor Scholz tells Russia that G7 won't abandon Ukraine

Plans by the G7 to provide additional financial support for Ukraine shows that wealthy industrial nations remain committed to the country more than two years after Russia's invasion, German Chancellor Olaf Scholz said.