The meeting of the Group of Seven (G7) industrialized nations began on Thursday with an agreement on a U.S. proposal for a $50 billion loan for Ukraine. This loan will be financed by the interest earned on frozen Russian assets, providing a strong show of support for Kyiv even as Europe experiences a shift to the political right.
Italian Prime Minister Giorgia Meloni welcomed G7 leaders at a luxurious resort in southern Italy, stating that she wants the message of this meeting to be one of dialogue with the global south and unity. She compared the G7 to ancient olive trees, symbols of the Puglia region, “with their strong roots and branches reaching towards the future.”
Pope Francis will become the first Pope to address a G7 meeting, lending additional fame and moral authority to this annual gathering. He will speak on Friday about the opportunities and risks of artificial intelligence but is also expected to reiterate his call for a peaceful end to Russia’s war in Ukraine and the Israel-Hamas conflict in Gaza.
The G7 comprises Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Italy, the host of this year’s meeting, has invited several African leaders, including Algerian President Abdelmadjid Tebboune, Kenyan President William Ruto, and Tunisian President Kais Saied, to promote development initiatives and curb migration from Africa to Italy and Europe.
Other notable attendees include Ukrainian President Volodymyr Zelenskyy, Brazilian President Luiz Inácio Lula da Silva, Indian Prime Minister Narendra Modi, and Turkish President Recep Tayyip Erdogan.
With upcoming elections for President Biden, UK Prime Minister Rishi Sunak, and French President Emmanuel Macron, the G7 is under significant pressure to achieve as much as possible while the current status quo lasts.
Using Frozen Russian Assets to Aid Ukraine
The U.S. proposal includes a $50 billion loan to help Ukraine in its fight against Russia, supported by the interest earned from frozen Russian central bank assets, most of which are located in European Union countries.
A French official told reporters on Wednesday that leaders had reached a political agreement, but the technical and legal details of the mechanism for using frozen assets still need to be worked out. The issue is complicated because if Russian assets are unfrozen one day, for example, if the war in Ukraine ends, then the interest earnings from these assets could no longer be used to repay the loan, creating the need for a new burden-sharing agreement with other countries.
In addition to this agreement, UK Prime Minister Sunak announced $310 million in non-military aid for Ukraine for its humanitarian, energy, and stabilization needs. Washington also sent strong signals of support with expanded sanctions against Russia, targeting Chinese companies aiding its war machinery.
Changes in the European Political Landscape
Prime Minister Meloni has consolidated power domestically and internationally after her far-right party performed better in the European Parliament elections than in the 2022 national general elections, which made her Italy’s first female prime minister. Known for its short-lived governments, Italy is now in the unusual position of being the most stable political force in the European Union.
The leaders of two other EU members who are also G7 members, Germany and France, were shaken by the good results of right-wing parties in their countries. French President Macron called for early elections, and German Chancellor Olaf Scholz’s Social Democrats trailed behind the conservatives and the far-right Alternative for Germany in the European Parliament elections.
As a result, Meloni is likely to be able to steer the three-day meeting with her main priorities while further strengthening her role on the global stage, analysts say. One sign of the rise of the far-right’s strength is the denial by Meloni’s office of media reports that Italy was trying to soften the language on abortion access in the G7’s final communiqué.
A French official, speaking anonymously, said there were different views with Italian negotiators on some topics, including reproductive health and vaccines.
Italian Foreign Minister Antonio Tajani confirmed that the abortion issue was being discussed but said discussions were ongoing.
“Although it is unlikely that the recent results will fundamentally shift the focus of the upcoming G7 meeting, this electoral victory gives Prime Minister Meloni more opportunities to structure it as a ‘Mediterranean Summit’,” says Nick O’Connell, deputy director of the Atlantic Council.
This includes focusing attention on the migration agenda as Prime Minister Meloni seeks to use her program for a non-exploitative relationship with Africa to promote development aimed at curbing illegal immigration to Europe.
Pope and Artificial Intelligence
Pope Francis has called for an international treaty to ensure that artificial intelligence is developed and used ethically, acknowledging the opportunities it offers but emphasizing the serious and existential threats it poses. He will speak about this campaign before the leaders of the world’s most industrialized nations as wars erupt on multiple fronts globally. One of his main concerns has been the use of artificial intelligence in the arms manufacturing sector. He has called traditional arms manufacturers “merchants of death.”
Pope Francis is also concerned about the impact of artificial intelligence on the poor, a technology that can determine an applicant’s credibility for a home loan, an immigrant’s right to political asylum, or the likelihood of a previously convicted person committing another crime.
Location of the G7 Meeting
The G7 meeting is being held at a grand luxury resort, an artificial city designed to resemble one of Puglia’s medieval villages but actually built in 2010.
Borgo Egnazia, located near an actual archaeological park, has narrow streets, villas, restaurants, and a town square complete with a clock tower. This is a popular area for celebrities and will be closed to outsiders during the G7 meeting.
