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Biden signs new security agreement with Ukraine, continuing to provide funding and support.

TraderKnows
TraderKnows
06-13

The conflict between Russia and Ukraine has lasted for a long time and has affected global economic markets. This Thursday, U.S. President Biden announced a new security agreement with Ukraine.

U.S. President Joe Biden will sign a new security agreement with Ukraine on Thursday, pledging long-term American support for the country. This statement was made during his meeting with G7 leaders in Italy, American senior officials revealed.

Biden departed for Italy on Wednesday to intensify the pressure on Russia for its war against Ukraine, while also applying pressure on China for its support of Moscow and excessive industrial capacity.

White House National Security Advisor Jake Sullivan told reporters aboard Air Force One that the agreement will make it clear, "Our support will endure for a long time, especially in the areas of defense and security."

"Through signing this agreement, we're also signaling our determination to Russia. If Vladimir Putin thinks he can outlast the coalition supporting Ukraine, he is mistaken," Sullivan said.

He noted that 15 countries have already signed their own security agreements, which will enhance Ukraine's "defensive deterrence capabilities." The U.S. agreement will include a commitment to continue funding Ukraine in cooperation with the U.S. Congress but will not involve the deployment of American ground troops in Ukraine, Sullivan added.

Earlier, the White House stated that Biden would meet again with Ukrainian President Volodymyr Zelensky at the summit and hold a joint press conference. The U.S. also expects Biden to meet with Indian Prime Minister Narendra Modi, who has been sworn in for a third term and is awaiting India's formal confirmation of Modi's attendance at the summit.

The G7 leaders face various domestic dilemmas during the summit while seeking solutions to many of the world's most pressing issues.

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