G7, allies commit to major reconstruction support for Ukraine

The G7 countries, along with over 20 other nations, have signed a declaration pledging continued military, economic, and humanitarian support for Ukraine, as the war-torn country embarks on its long path to reconstruction.

The declaration, released in conjunction with ongoing international efforts, reaffirms the commitment of these countries to assist Ukraine in both the short and long term. “We are firmly determined to provide military, budgetary, humanitarian, and reconstruction support to Ukraine and its people today and in the future,” the document reads, emphasizing the broad scope of assistance planned.

A crucial part of this agreement focuses on frozen Russian assets, which will remain inaccessible to Moscow until the country ceases its aggression and compensates Ukraine for the extensive damage caused by the war. The document also highlights that future loans to Ukraine will be paid off using these frozen assets, signaling a long-term financial strategy tied to Russia’s economic sanctions. In addition to state contributions, private investments will be encouraged to aid in Ukraine’s reconstruction.

The aid pledged by the signatories aims to tackle immediate and long-term needs, such as rebuilding critical infrastructure, fostering economic recovery, enhancing social sustainability, and implementing priority reforms essential for Ukraine’s future stability.

Earlier, ahead of the G7 summit on June 13, the group agreed to a U.S. proposal to secure a $50 billion loan for Ukraine, drawn from Russia’s frozen assets. This deal reflects the international community’s strong support for Kyiv, even as right-wing political forces gain momentum in parts of Europe.

The G7, composed of the world’s most economically advanced nations— the United States, United Kingdom, France, Italy, Germany, Japan, and Canada—continues to play a central role in supporting Ukraine amid an evolving geopolitical landscape.