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Biden heads to G7 summit focused on Ukraine aid, China’s support for Russia

June 12, 2024
in Markets
Biden heads to G7 summit focused on Ukraine aid, China’s support for Russia
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WASHINGTON: US President Joe Biden flies to Italy on Wednesday for meetings with Group of Seven leaders aimed at increasing pressure on Russia over its war against Ukraine and China for its support of Moscow and excess industrial capacity.

The G7 leaders arrive at the summit confronting myriad woes at home even as they seek solutions for many of the world’s most pressing problems.

Biden, 81, spent Tuesday evening at his home in Wilmington, Delaware, after a 12-member jury convicted his son Hunter Biden of lying about his drug use to illegally buy a gun in 2018, making him the first child of a sitting US president to be convicted of a crime.

The trial followed the May 30 criminal conviction of Republican former President Donald Trump, the first former US president to be found guilty of a felony.

Biden and Trump are running against each other in the November presidential election and are neck-and-neck in the polls.

The heads of the world’s most developed democracies will address multiple challenges during the June 13-15 meeting, including wars in Ukraine and the Middle East, trade imbalances with China, threats posed by artificial intelligence and development challenges in Africa.

‘No one above the law’: Biden

The leaders will announce new sanctions and export controls against Russia that target entities and networks helping President Vladimir Putin’s forces fight the war in Ukraine, White House spokesperson John Kirby said on Tuesday.

“We’re going to continue to drive up costs for the Russian war machine,” Kirby said. Washington plans to widen sanctions on the sale of semiconductor chips and other goods to Russia, with the goal of targeting third-party sellers in China, sources familiar with the plans said late on Tuesday.

The administration will announce it is broadening existing export controls to include US-branded goods, not just those made in the United States, the sources said.

It will identify certain Hong Kong entities it says are shipping goods to Moscow.

Shoring up funding for Ukraine will be a top priority at the G7 meeting, with US and European officials eager to lock in solutions, ahead of a possible Trump re-election and the uncertainty it would raise over future US support for Kyiv.

Tags: British Prime Minister Rishi SunakChinaG7 leadersRussian Ukraine conflictUkraineUkraine peace summitUkrainian President Volodymyr ZelenskiyUS president Joe Biden
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