The three-day 2024 G7 summit in Puglia gets under way on Thursday, with Premier Giorgia Meloni welcoming the international leaders to the resort of Borgo Egnazia.
G7 leaders are set to announce an agreement to use interest from frozen Russian assets seized following Moscow’s invasion of Ukraine.
The idea is to use the interest on around €300billion of assets as collateral for a loan of around €50-60billion for Ukraine. While Washington has been strongly advocating for this move, European nations have approached the matter with caution due to the legal complexities involved.
The Middle East crisis will also be a focal point of the summit. Additionally, under Italy’s presidency, the G7 is emphasising migration issues and fostering relations with developing nations, particularly African states. The aim is for cooperative partnerships rather than past paternalistic or exploitative approaches.
Artificial Intelligence will also be on the agenda, highlighted by Pope Francis’ unprecedented participation in a G7 summit. He is expected to address the ethical use of AI and peace initiatives.
President Joe Biden will have a bilateral meeting with Italian Prime Minister Giorgia Meloni and will also meet with Pope Francis during the summit, held from June 13-15 at Borgo Egnazia in Puglia.
