Japan to sign series of agreements with Kiev to deepen involvement in war

News broadcaster NHK said the two countries would sign bilateral agreements in a number of areas including intelligence cooperation.

  • Japan to sign series of agreements with Kiev to deepen involvement in war
    On February 19, Japanese Prime Minister Fumio Kishida shook hands with Ukrainian Prime Minister Denis Shmihal in Tokyo, Japan (Ministry of Foreign Affairs of Japan)

Japan and Ukraine plan to sign a 10-year bilateral agreement at the upcoming G7 summit, Japan Broadcasting Corporation Tokyo continues to expand its involvement in Russia’s war and has already provided $7.6 billion in aid to Kiev, sources reported on Saturday, citing sources.

Japan Broadcasting Corporation added that the move is part of Asian countries’ continued support for Ukraine in security, energy and humanitarian aid.

Read more: G7 to freeze Russian assets until compensation is paid to Ukraine

The agreement will include non-lethal equipment and supplies, medical care for wounded soldiers, intelligence cooperation, mine clearance and agricultural development.

The group’s meeting is scheduled for June 13-15 in Puglia, Italy.

At an upcoming summit, U.S. President Joe Biden is trying to persuade EU leaders to back a plan that could provide Ukraine with up to $50 billion in loans by seizing interests in Russia’s frozen sovereign assets in the West. , to fund its war activities.

The global financial system faces unforeseen risks

However, a source familiar with Biden’s proposal told the Wall Street Journal that many details still need to be ironed out before they can agree to the plan. Voice of America Earlier. If approved, the seized funds could be transferred to Kyiv in the coming months.

G7 finance ministers said after a meeting in May that “progress” had been made in deciding how to use Russia’s frozen funds to aid Ukraine, as the process has been delayed for more than a year by complex legal hurdles.

While no concrete plans have yet been drawn up, ministers agreed in principle to support the measure, claiming it would be “consistent with international law and our respective legal systems”.

“They discussed a number of options that would allow us to ensure that Ukraine gets the funds it needs to invest not only in its economy but in its defense,” U.S. Treasury Undersecretary Wally Adeyemo told VOA. “I “The expectation is that when we have a meeting of leaders, those leaders will support some of these options.”

Christine Belzina, managing director of geostrategy for the north at the German Marshall Fund, said that while there is general agreement to support Kyiv as much as possible and as quickly as possible, issuing loans based on expected returns on frozen assets comes with complex legal and Regulatory challenges.

“How do you lend based on the expected profits from the assets, how does that fit into the existing sanctions regime, and how long will those assets really be frozen?” she told VOA. “How do you guarantee that the Europeans will not change the sanctions that freeze these assets before providing $50 billion?”

The International Monetary Fund also warned that Western plans to seize and freeze Russian assets could pose a threat to the global monetary system and bring unforeseen risks.

IMF spokesperson Julie Kozak told reporters: “From our perspective, any action must have an adequate legal basis to avoid potential risks, including the risk of litigation, the risk of countermeasures, and the risk of international monetary System risk.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top