$50bn mortgage reveals West just isn’t ‘backing down’ to Putin, Biden says | EUROtoday

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Today’s $50 billion mortgage to Ukraine reveals Vladimir Putin we’re “not backing down”, Joe Biden mentioned on the G7 Summit in Italy.

Speaking alongside Volodymyr Zelensky, the Ukrainian president, Mr Biden mentioned he was “very pleased” with the mortgage, which is secured towards $260 billion in frozen Russian property.

“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 mentioned.

Mr Biden additionally introduced that the US had signed a 10-year safety pact with Ukraine to proceed coaching Ukrainian troops, offering weapons and enhance intelligence sharing.

“Our goal is to strengthen Ukraine’s credible defence and deterrence capabilities for the long term,” he declared. However, the settlement could also be undone by a future president as a result of it’s an government order somewhat than a proper treaty.

Mr Biden mentioned: “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 and ammunition, expanding intelligence sharing, continuing to train brave Ukrainian troops at bases in Europe and the United States.

“Interoperability between our militaries in line with Nato standards, investing in Ukraine’s defence industrial base so in time, in time, they can supply their own weapons and munitions.”

Volodymyr Zelensky mentioned that fighter squadrons could be despatched to help the Ukrainian warfare effort as a part of the safety settlement.

“The agreement has good provisions on weapons for our defence… very specifically on the supply of fighter squadrons to Ukraine,” he mentioned.

“That’s right, plural – squadrons. Including, but not limited to F-16s. We have worked for a long time for these.”

The 10-year pact will final not only for the “duration of this war, but also, also for the period of peace after the war,” he added. “And we will definitely ensure peace.”