Today’s $50 billion loan to Ukraine shows Vladimir Putin we are “not backing down”, Joe Biden said at the G7 Summit in Italy.
Speaking alongside Volodymyr Zelensky, the Ukrainian president, Mr Biden said he was “very pleased” with the loan, which is secured against $260 billion in frozen Russian assets.
“To put that money to work for Ukraine [is] another reminder to Putin we’re not backing down. In fact, we’re standing together against this illegal aggression,” he said.
Mr Biden also announced that the US had signed a 10-year security pact with Ukraine to continue training Ukrainian troops, providing weapons and increase intelligence sharing.
“Our goal is to strengthen Ukraine’s credible defence and deterrence capabilities for the long term,” he declared. However, the agreement may be undone by a future president because it is an executive order rather than a formal treaty.
Mr Biden said: “A lasting peace for Ukraine must be underwritten by Ukraine’s own ability to defend itself now, and to deter future aggression, anytime in the future.”
“The United States going to ensure that Ukraine can do both, not by sending American troops to fight in Ukraine, but by providing weapons