{O/C} {Turning overseas}
Converging upon Germany today, the Group of Seven economies went to bat for Ukraine, with commitments to its battle against Russia in prospect.
While the Ukraine crisis remains the focal point, the G7 leaders have also pledged 600 billion US dollars to counter China's growing multi-trillion-dollar Belt and Road initiative.
{Take SOT}
{Upsound 00:00 - 00:01}
Stretching the war and peace are simply two sides of the same coin, and G7 leaders plan to use the hard way.
{Soundbite}
BORIS JOHNSON, British Prime Minister:
It's worth us standing up for together, and that is the principle that a free, independent sovereign country like Ukraine should not be violently invaded and should not have its boundaries changed by force.
{VO}
On the first day of the summit at the secluded Schloss Elmau luxury hotel the leaders cranked up the pressure by proposing to stop purchasing gold from Moscow, in addition to a new American proposal to undercut its oil revenues unless Russia agrees to a steep discount. The move is expected on Tuesday.
Biden is also slated to announce that the U.S. is delivering an advanced surface-to-air missile system to Ukraine to help fortify Ukraine's defences.
Atop that are a Norwegian anti-aircraft system and other weapons.
German Chancellor Olaf Scholz also intends to flesh out his "Marshall plan for Ukraine".
And the West's menacing nemesis, China, was not forgotten. They plan to devote 600 billion U.S. dollars in both public and private funds over five years to the nascent Partnership for Global Infrastructure and Investment to vie with China's established Belt and Road project.
{Soundbite}
JOE BIDEN, United States President:
Today, we officially launch the Partnership for Global Infrastructure and Investment. And I'm proud to announce the United States will mobilise 200 billion (US dollars) in public and private capital over the next five years for that Partnership.
{VO}
The summit will continue later today with a video conference between the G7 leaders and Ukrainian President, Volodymyr Zelensky.
The G7 leaders are also due to discuss issues surrounding climate change and energy with five emerging democratic economies, including India and South Africa.
Comments