President Biden and Ukrainian President Volodymyr Zelenskyy signed a deal Thursday pledging the United States’ long-term commitment to Ukraine’s security and giving the war-ravaged country a $50 billion loan backed by Russian assets.
The accord, signed on the sidelines of the G7 summit Mr. Biden is attending in southern Italy, underscores Washington’s support for Ukraine as it tries to hold off a brutal assault from Russia begun in February 2022. But the deal is an “executive agreement,” meaning a future president could withdraw from it.
Under the pact, money seized from Russian sanctions will be loaned to Ukraine for military aid, humanitarian support and rebuilding its infrastructure, the White House said.
During a joint news conference to announce the security agreement, Mr. Biden said the deal sent a strong message to Russian President Vladimir Putin about the West’s resolve to support Ukraine, amid fear the broad alliance Mr. Biden helped assemble to support Kyiv has been politically weakened in recent days.
“We’re not backing down,” Mr. Biden said. “In fact, we are standing together against this illegal aggression.”
The U.S. has not yet committed the entire $50 billion, but will do so if necessary, a senior administration official told reporters. However, the Biden administration expects other nations to step up and contribute to the effort.
Roughly $300 billion in frozen Russian assets will be used to secure the loan, the official said.
The agreement will be similar to bilateral agreements Ukraine has already signed with other countries. It doesn’t include any commitment to use U.S. forces to defend Ukraine. Instead, it will outline how the U.S. and its allies will work with Ukraine to push back Russian aggression.
Mr. Biden said that includes providing weapons and ammunition, expanding intelligence sharing and training Ukrainian soldiers at U.S. bases in Europe.
“Collectively, this is a powerful set of actions and it will create a stronger foundation for Ukraine’s success,” he said.
Mr. Zelenskyy said the pact represented “a historic day” in the war against Russian aggression.
“It benefits everyone in the world because the Russian war against Ukraine threatens global peace,” he said of the pact.
The G7 industrial democracies — Germany, Japan, France, the United Kingdom, Canada, Italy and the United States — are meeting for two days in Italy, with Ukraine, China, global development and climate change among the agenda items.
Mr. Biden and Mr. Zelenskyy met privately last week in Paris during the events marking the 80th anniversary of the D-Day landing. On that trip, Mr. Biden announced a separate $225 million weapons package for Ukraine.
• Jeff Mordock can be reached at jmordock@washingtontimes.com.