The Prime Minister is set to affirm the UK's leadership in supporting international peace and security at the G7 Leaders Summit in Italy, amidst a backdrop of increased
global instability.
Support for Ukraine and Securing Peace in the Middle East are Priorities at the G7 Leaders Summit:
The UK announces a package of up to £242 million in funding for immediate humanitarian, energy, and stabilisation needs in Ukraine.
Leaders aim to leverage billions from immobilised Russian assets to support Ukraine.
At the Summit, the Prime Minister will declare up to £242 million in bilateral assistance to Ukraine. This funding will address immediate humanitarian, energy, and stabilisation needs and lay the groundwork for long-term economic and social recovery and reconstruction. This move underscores the UK's ongoing solidarity with Ukraine and its adaptability in responding to urgent needs caused by Russian aggression. For instance, critical energy infrastructure has been severely impacted by an intense Russian missile and bombing campaign over the past few months.
A key priority for the Prime Minister at the Summit is to collaborate with partners to find a way to utilise immobilised Russian assets to support Ukraine. Last month, the Chancellor attended the G7 Finance Ministers and Central Bank Governors meeting, where discussions focused on using the extraordinary profits from these assets to benefit Ukraine.
The UK and G7 leaders are united in their stance that Russia must pay for the damage it has inflicted on Ukraine. They will explore all lawful means to use immobilised Russian assets to support Ukraine. The assets held in G7 jurisdictions are valued at $285 billion.
The UK was the first country to enact legislation explicitly enabling the maintenance of sanctions until Russia compensates for the damage it has caused. Additionally, new powers have been introduced to compel sanctioned individuals and entities to disclose their assets in the UK.
Prime Minister Rishi Sunak stated: "We must be decisive and creative in our efforts to support Ukraine and end Putin’s illegal war at this critical moment. The UK remains at the forefront of the international response, as we have been from the outset. We must move from 'as long as it takes' to 'whatever it takes' if we are to end this illegal war."
From Ukraine to the Middle East, the Summit will address significant global threats. These threats highlight the importance of strengthening the UK’s national defence, with a commitment to spend 2.5% of GDP on defence by 2030.
The UK has committed nearly £12.7 billion in military, humanitarian, and economic support to Ukraine and has often been the first to provide crucial lethal aid, including Storm Shadow cruise missiles and a squadron of Challenger 2 tanks.
The Prime Minister recently announced the UK's largest-ever package of military equipment to help repel the Russian invasion on land, sea, and air.
While at the summit, the Prime Minister will attend sessions on Ukraine, illegal migration, economic security and China, the Middle East, and a credible G7 and UK offer to the 'global majority.'
The Prime Minister will work to encourage G7 unity in response to the situation in Gaza, focusing on the long-term goal of a stable and prosperous Middle East. He will urge other leaders to recognize migration challenges "across the route" and take collective action.
Additionally, he will aim to strengthen economic security in relation to China and collaborate with partners to identify ways to leverage the revolution in green technologies for the benefit of the British people and industries. Photo by Number 10, Wikimedia commons.