US President Joe Biden will travel to Italy this Wednesday to meet with G7 leaders seeking to increase pressure on Russia, due to the war against Ukraine, and on China, due to its support for Moscow and its excessive of industrial capacity.
The group’s leaders rise to the top facing a variety of internal problems, while also seeking solutions to many of the world’s most pressing issues.
Biden spent Tuesday night at his home in Wilmington, Delaware, after a jury convicted his son Hunter of lying about drug use during the illegal purchase of a gun in 2018, making him the first son of a U.S. president United States incumbent to be convicted of a crime.
The trial followed the criminal conviction of Donald Trump, the first former US president to be found guilty of a crime. Biden and Trump will face off in November’s presidential election and are tied in opinion polls.
Leaders of the world’s most developed democracies will address several challenges at their June 13-15 meeting, including wars in Ukraine and the Middle East, trade imbalances with China, threats posed by artificial intelligence, and challenges of development in Africa.
Leaders will announce new sanctions and export controls against Russia that will target entities and networks helping President Vladimir Putin’s forces fight the war in Ukraine, White House spokesman John Kirby said Tuesday. “We will continue to increase the costs of the Russian war machine,” Kirby said.
Washington plans to expand sanctions on the sale of semiconductor chips and other products to Russia, aiming to target third-party sellers in China, sources familiar with the plans said.
Increasing funding for Ukraine will be a top priority at the G7 meeting, with US and European officials eager to find solutions ahead of Trump’s possible re-election and the uncertainty it will generate over future US support for Ukraine Kiev.
The G7 and the European Union are considering how to use profits generated by Russian assets frozen in the West to provide Ukraine with a large initial loan to secure Kiev’s financing for 2025.
Biden will press other G7 leaders to agree on a plan to use future interest on about $281 billion in Russian central bank funds to secure a $50 billion loan to Ukraine.
G7 leaders also face electoral challenges, with polls indicating that British Prime Minister Rishi Sunak is likely to lose power in a national vote next month, and the leaders of France and Germany are suffering heavy defeats in recent European Parliament elections .
Source: Terra
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