Biden and European Leaders Agree to Finance UKR Using RU Assets; US’s UKR Security Deal Won’t Change the War Much Any Time Soon; Over third of Day’s C-Clashes on Pokrovsk Axis; UKR Destroys Entire RU Tank Co; UKR Destroys 6 RU Warplanes; RU Has NO FOOTHOLD in Novooleksandrivka, LIVE UPDATES and LOTS MORE

At G-7, Biden and European Leaders Agree to Finance Ukraine Using Russian Assets:

President Biden and key European leaders reached an agreement to finance Ukraine with a loan of up to $50 billion, backed by the profits on frozen Russian assets.

Key details of the financing arrangement still need to be agreed, but the leaders, meeting at a summit of the Group of Seven major advanced economies, hope it will shore up Ukraine’s finances as it fights against the two-year-old Russian invasion.

Separately, Biden and Ukrainian President Volodymyr Zelensky are expected to unveil a bilateral security agreement that seeks to establish a long-term U.S. commitment to military aid for the embattled country.

The steps by G-7 leaders at the summit in southern Italy represent the latest effort by Western allies to signal their commitment to supporting Ukraine’s defense with arms and funding, despite political divisions within the U.S. and Europe creating uncertainty about the longevity of that support.

Russian President Vladimir Putin has redoubled the military pressure on Ukraine in recent months, exploiting the sputtering flow of Western military aid to badly damage Ukraine’s energy grid with missile attacks and expanding Russia’s ground offensive in eastern Ukraine.

G-7 leaders aimed to announce the framework of an agreement to use the investment returns, mainly interest payments, generated from roughly $300 billion in Russian sovereign assets that the U.S. and Europe froze after Russia launched its full-scale invasion of Ukraine. Most of the Russian central bank assets are held in Europe.

The plan seeks to create a new financial instrument to provide Kyiv with years’ worth of expected profits on Russian assets.

U.S. and French officials said they hope the disbursements can start flowing to Ukraine by the end of the year.

A senior Biden administration official said G-7 leaders had a “political agreement at the highest levels for this deal. And it is $50 billion…that will be committed.”

Zelensky, one of several world leaders invited to join the three-day summit at a luxury resort in the Italian region of Puglia, was due to hold a joint news conference with Biden late on Thursday.

The U.S.-Ukraine security pact seeks to commit future administrations to work with Congress to provide funding and military support for Kyiv. It makes no new promises regarding Ukraine’s bid to join the North Atlantic Treaty Organization. White House officials acknowledge that future U.S. presidents could withdraw from the bilateral agreement, which isn’t a treaty and doesn’t require congressional approval. It also has no dollar amount of military funding attached. —>READ MORE HERE ( or HERE)

NY POST: Biden’s Ukraine security deal is fine but won’t change the war much any time soon:

President Biden’s security deal with President Volodymyr Zelensky, which the two men signed Thursday, shows him once again doing the right thing for Ukraine — but in baby steps that fall far short of any effort to help Kyiv win.

The deal is largely a symbolic gesture: It won’t do much to help the Ukrainians force Russia to retreat and stand down any time soon.

Its most important feature: a 10-year commitment by the United States to “build and maintain Ukraine’s defense and deterrence capability” — by providing weapons, ammunition, intelligence and training for its forces and working to build its own military-production capabilities.

Biden also announced new sanctions on Russia and on third parties that aid in its war effort.

And the Group of Seven leaders cleared the way for Ukraine to borrow up to $50 billion from frozen Russian funds.

That’s all great: It sends another message to Russian Thug-in-Chief Vladimir Putin that America is backing Ukraine for the long haul. —>READ MORE HERE

Follow links below to +++++relevant+++++ and related stories:

+++++Russia-Ukraine News LATEST UPDATES: (REUTERS) (AP) (NY POST) and (WSJ)+++++

+++++War update: Over third of combat clashes today recorded on Pokrovsk axis+++++

+++++Ukraine’s 68th Jaeger Brigade says it ‘destroyed entire Russian tank company’+++++

+++++Ukraine claims it destroyed 6 Russian warplanes in a major drone attack+++++

+++++Russia cannot gain foothold in Novooleksandrivka, Donetsk region – 110th brigade spokesman+++++

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