Richard Arnold: US Correspondent on the G7 funding for Ukraine and the deal between Biden and Zelenskyy

World leaders are directing US$50 billion worth of interest from frozen Russian assets towards Ukraine.  

The funding was announced at today's G7 summit in Italy as a signal to Russia it cannot win the war by depleting Ukraine's resources.  

US President Joe Biden and Ukrainian President Volodymyr Zelenskyy also announced a bilateral security agreement.  

Zelenskyy's outlined the details of the agreement, noting it includes a long-requested shipments of F16 fighter jets.  

He says it clearly states the US supports Ukraine's efforts to win the war. 

LISTEN ABOVE 

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
Dateside Richard Arnold, Good morning, morning. Make before he does
all that, he's done a deal, of course with Zelensky,
who was also at the G seven. That's right. They're
all taking their seats right now for this news conference,
which is running about ninety minutes late. This after, Biden
and Zelenski signed off along with the G seven partners
on a new long term security deal, one which encompasses

(00:24):
about an eighty billion New Zealand dollar rescue plan for
Ukraine along with the other G seven industrial leaders Britain, Germany, France, Japan,
Canada and Italy. That's equivalent to around twenty percent of
New Zealand's GDP. The money would be in the shape
of a long term loan back by frozen Russian assets,
so it would be secured by interest from around four

(00:45):
hundred and eighty five billion in frozen Russian funds. Biden
flew back to Italy for this G seven summit just
for a couple of days. After attending the D Day ceremonies,
of course in France, he returned to the United States
and left again for this specific gathering. Biden met privately
with Ukrainian President Vladimir Selinsky in Paris and Zelensky back

(01:05):
with Biden today, as we note, about to appear once
again in his trademark military Fatigues. No doubt, one figure
who is having an influence on all this, but who
was not at the Summer table, is the aforementioned Donald Trump.
While he was meeting with leaders of the House and
the Senate in Washington, d C. For the first time
in a long period, many world leaders have been anxious

(01:28):
over the prospect that Trump could return to the White
House and cut or future US funding for Ukraine. Already,
Conservative Republicans are split, and Biden only got through the
last installment of an eight month delay that was for
an amount of nearly one hundred billion dollars in New Zealand.
Biden now is about to speak. Let's take a listen
to what they're going to say. Coming up. Meantime, they

(01:53):
are just signing some documents and preparing to outline some
of the details of this ten year security plan. We
will here I expect some more of the footnotes in
terms of this complicated negotiation that has been taking place
with Biden and his G seven partners, and hear what
they have to say. Momentarily, the two leaders now shaking hands,

(02:16):
Biden and Zelensky in front of an audience, an international
audience of the G seven partners, and Biden now coming
to the microphone.

Speaker 2 (02:26):
Let's sure. The NATO, SUMN, Lithuania, the United States brought together,
I remember the G seven to sign a joint declaration
of support for Ukraine. Twenty five additional countries joined us quickly.
Each agreed to forge a long term bilateral commitments with Ukraine.
Presidents Lynski and I have just now signed that agreement

(02:49):
between the United States and Ukraine. Our goal is to
strength to the Ukraine's credible defense and deterrence capabilities. For
the long term peace for Ukraine must be underwritten by
Ukraine's own ability to defend itself now and to deter
future aggression anytime in the future.

Speaker 1 (03:10):
So some of that funding going to weaponry, some of
it has been set aside. They anticipate for rebuilding efforts
in Ukraine if and when that time comes in the
short term future. Meantime, the strains between the US and
Russia are showing in other ways. Russia just sent some
warships into Cuban waters in an echo of the Cold War.
It's a four vessel group, which the Pentagon says pos

(03:31):
is no immediate threat to the United States. Still, it
was greeted by a twenty one gun salute as the
convoys sailed into Havana Harbor. So that's old school, isn't it.
Also there is word today that American reporter Evan Gerskevich,
the jailed Wall Street Journal reporter, soon will stand trial
for alleged spying. Russian prosecutors have provided no evidence zip
for the espionage accusations. The United States condemns the detention

(03:54):
of Gerskovich more than a year back is simply political.
Putin has said he is quote not closed to negotiate
on this, indicating that he wants a body swap. Trading
the reporter for a fellow named Vadim Krazakhov, an FSB
agent in jail in Germany for the murdering of a
Putin critic in Berlin, only might go. Well, we'll see
you next week. Richard Donald's Outside. For more from the

(04:16):
Mic Asking Breakfast, listen live to News Talks at B
from six am weekdays, or follow the podcast on iHeartRadio.