G7 avoids financial pledges as Ukraine faces $52 billion budget shortfall
By
Chris Powers
Baker's choice. Dense with flavour, light on filler.
Summary
G7 leaders meeting in Evian, France are preparing a statement highlighting Ukraine's battlefield advantages against Russia, but are avoiding concrete financial commitments to address Ukraine's $52 billion budget shortfall. Despite the EU's push and a previously agreed $105 billion loan, G7 nations are not discussing how to fill the remaining gap, leaving Ukraine's ability to sustain its military success financially uncertain.
Key quotes
· 2 pulledA statement being prepared by the G7 countries for publication on June 16 is expected to emphasize how Ukraine now has the upper hand against Russia on the battlefield, but is set to shy away from any of the big financial pledges needed to ensure Ukraine can keep financing that military success.
One G7 diplomat told the Kyiv Independent on condition of anonymity that European Commission President Ursula von der Leyen raised Ukraine's remaining budgetary gap, but they said G7 leaders did not then discuss who would finance how much.
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