The Group of Seven (G7) leaders are attending a three-day summit in Italy. As per DW, members are negotiating a $50 billion loan to Ukraine that will be secured by interest from state assets of Russia that have been frozen.

US President Joe Biden and his Ukrainian counterpart Volodymyr Zelenskyy signed a 10-year bilateral security agreement on the sidelines of the G7 summit in ItalyImage: Kevin Lamarque/REUTERS

Biden, Zelenskyy sign new security agreement
G7 eyes Ukraine funding plan
UK to announce $310 million Ukraine aid at G7 summit
Leaders plan loan for Kyiv using interest from Russian state assets as collateral

Biden and Zelenskyy hail bilateral security agreement
US President Joe Biden said a new 10-year bilateral security agreement he signed with President Volodymyr Zelenskyy will, “strengthen Ukraine’s credible defense and deterrence capabilities for the long term.”

The deal, signed at the G7 summit in Italy, outlines how the US will coordinate with Ukraine and its allies to ensure Ukraine’s defense and deter Russian aggression.

“A lasting peace for Ukraine must be underwritten by Ukraine’s own ability to defend it now, and deter any aggression in the future,” Biden said

Zelenskyy hailed it as the “strongest agreement” with the United States since Ukraine declared independence.

The agreement regulates cooperation between the two countries at all levels, including military equipment, training, and maneuvers.

At the same time, Ukraine must carry out various reforms in the areas of justice, law enforcement, and anti-corruption, as well as in military capabilities and structures to meet NATO standards in the future.