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G7 agrees $50bn loan for Ukraine from Russian assets
The G7 has agreed to use frozen Russian assets to raise $50bn (£39bn) for Ukraine to help it fight invading Russian forces.
US President Joe Biden said it was another reminder to Russia “that we’re not backing down”, but Moscow has threatened “extremely painful” retaliatory measures.
The money is not expected to arrive until the end of the year but is seen as a longer-term solution to support Ukraine’s war effort and economy.
Also at the G7 summit in Italy, Ukrainian President Volodymyr Zelensky and Mr Biden signed a 10-year bilateral security deal between Ukraine and the US, hailed by Kyiv as “historic”. The agreement envisages US military and training aid to Ukraine – but it does not commit Washington to send troops to fight for its ally.
Some $325bn worth of assets were frozen by the G7, alongside the EU, following Russia’s full-scale invasion of Ukraine in 2022. The pot of assets is generating about $3bn a year in interest. Under the G7 plan, that $3bn will be used to pay off the annual interest on the $50bn loan for the Ukrainians, taken out on the international markets.
Speaking at a joint news conference at the summit’s venue in Puglia, southern Italy, President Biden said the $50bn loan would “put that money to work for Ukraine and send another reminder to [Russian President Vladimir] Putin that we’re not backing down”. The US leader stressed that the Mr Putin “cannot wait us out, he cannot divide us, and we’ll be with Ukraine until they prevail in this war”.
President Zelensky thanked his American and other allies for their unwavering support.
And referring to the new security deal, he said: “It’s a truly historic day and we have signed the strongest agreement within Ukraine and the US since our independence [in 1991]”.
The G7 group of rich nations, Canada, France, Germany, Italy, Japan, the UK and US, have been important financial and military supporters of Ukraine as it battles to contain occupying Russian forces.
Other G7 leaders also hailed the $50bn loan deal, with UK Prime Minister Rishi Sunak describing it as “game changing”.
Most of the frozen assets of the Central Bank of Russia are being held in Belgium. Under international law, countries cannot confiscate those assets from Russia and give them to Ukraine.
Several hours before the G7 decision was announced, Russian Foreign Ministry spokeswoman Maria Zakharova warned that there would be “extremely painful” retaliatory measures.
[BBC]
Latest News
U – 19 world Cup: Rain disrupts New Zealand vs Bangladesh game in Bulawayo
Rain in Bulawayo allowed just ten overs of action between Bangladesh and New Zealand .
The match began an hour later than scheduled, and as a 47-over contest after Bangladesh opted to bowl. Iqbal Hossain Emon cleaned Hugo Bogue up for 8 in the second over, but just as Aryan Mann and Tom Jones steadied New Zealand, rain returned, only for no play to be possible after that.
It was New Zealand’s second washed-out game in a row, and they will hope to beat India in their final group game so that they don’t have to depend on the result of the Bangladesh-USA match to progress to the Super Sixes.
No result: New Zealand 51 for 1 vs Bangladesh
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U – 19 World Cup: Will Malajczuk’s 51-ball century helps Australia blow Japan away
The first over of the 202 chase set the tone for what followed as Australia cruised past Japan at the Under19 World Cup in Windhoek. Will Malajczuk smashed Nikhil Pol for 14 runs, and never looked back, racing to a 23-ball fifty and a 51-ball hundred as Australia chased down the target with eight wickets and nearly 20 overs to spare to seal a Super Sixes berth.
By the time Japan finally got rid of Malajczuk, he had thumped 102 off 55 balls, with 12 fours and five sixes. He brought up his half-century midway through the sixth over, by which point Australia were already 66 for 0, with Malajczuk contributing 57 of those runs off 26 balls. At the other end, his opening partner Nitesh Samuel scored 7 from ten deliveries.
The pair added 135 for the first wicket, with Malajczuk doing the bulk of the damage as Samuel settled into a calmer role. While Malajczuk fell shortly after reaching his hundred, Samuel carried on to bring up his fifty off 62 balls in the 25th over and finished unbeaten on 60. He had scored an unbeaten 77 against Ireland in Australia’s opening game of the tournament.
Earlier, Japan were content to take their time after opting to bat. HUGO Tani Kelly was once again their standout, following up his 101 not out against Sri Lanka with an unbeaten 79. Japan, however, slipped from a position of stability to lose four wickets for 13 runs in a middle-order collapse, during which legspinner Naden Cooray struck three times.
Tani-Kelly added 72 for the seventh wicket with Montgomery Hara-Hinze before Japan eventually finished on 201, although 30 extras from Australia played its part. The target hardly bothered Australia, whose win makes both teams’ next group game a dead rubber.
Brief scores:
Australia Under 19s 204 for 2 in 29.1 overs (Will Malajczuk 102, Nitesh Samuel 60*; Nihar Parmar 1-35) beat Japan Under 19s 201 for 8 in 50 overs (Hugo Tani-Kelly 79*; Naden Cooray 3-31, Will Byrom 2-32) by eight wickets
(Cricinfo)
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Rodrigues holds nerve as Delhi Capitals hand Mumbai Indians third straight loss
There is officially a traffic jam in the WPL points tale. A day after RCB qualified for the playoffs, Delhi Capitals (DC) captain Jemimah Rodrigues led her team over the line in a tense and hard-fought chase to extend Mumbai Indians’ (MI) losing streak to three games in a row. That means all four teams apart from RCB now have four points each after DC lifted themselves off the bottom to push Gujarat Giants down to fifth.
Chasing 155 on a slow Vadodara track, DC saw Rodrigues walk out needing 71 off 58 balls. The MI bowlers then dried up the boundaries by taking the pace off on a pitch keeping a little low as well and forced Rodrigues and Laura Wolvaardt to mostly trade in singles and doubles. Rodrigues, however, kept finding the boundaries – square and behind square – to bring the equation down to a more comfortable 27 from 18. She placed the ball in the gaps for three more boundaries before Marizanne Kapp smoked a six to seal victory with an over to spare.
MI were earlier restricted after another slow powerplay with the bat. Once the openers failed again, Nat Sciver Brunt did the heavy lifting once more with an unbeaten 65 after Harmanpreet Kaur fell for 41, as Shree Charani’s 3 for 33 dented MI while they looked to press the pedal. But the total wasn’t enough as almost all DC batters got going and Rodrigues scored her maiden fifty of the season and as WPL captain.
Even though MI stuck to their opening pair from the last game, it didn’t change their powerplay fortunes. They continued to be the worst performing team in that phase, with a score of 23 for 2 against the DC quicks who kept aiming for the stumps. With some movement with the new ball, Nandani Sharma knocked over S Sajana’s off stump in the fourth over and Kapp had Hayley Matthews’ middle stump knocked back by two balls later.
The run rate was starting to plummet further as Sciver-Brunt kept finding the fielders and Harmanpreet got off to her usual slow start of 5 off 13. Until spin was introduced. Harmanpreet found the boundary twice as soon as Shree Charani erred with her lengths, including a trademark inside-out drive over the covers. Sciver-Brunt started to pepper the leg-side fence, and she stylishly brought up the half-century stand and push the run rate over six with an inside-out drive for the first six of the innings.
Just when Harmanpreet had started to turn into Harmonster with three consecutive fours off Shafali Verma square of the wicket, DC dented MI’s middle order. The big wicket came through Shree Charani who had Harmanpreet hole out to long-on for 41 off 33 and even though Sciver-Brunt kept finding the boundaries regularly around the park and brought up her 11th WPL half-century – joint most with Meg Lanning – and third of the season, Shree Charani’s double-wicket 18th over that went for just four runs rocked MI again. After just 11 runs in the 18th and 19th overs, Sanskriti Gupta’s last-ball six helped MI collect 13 from the last over to post 154, their lowest total this season.
DC had the kind of powerplay MI can only dream of this WPL. The MI bowlers strayed often with their lines and Shafali and Lizelle Lee pulled and punched with confidence for boundaries to try and wipe out a good chunk of the target in the first six. They collected three fours each off Nicola Carey and Sanskriti in the second and sixth overs respectively, and the others in between for two fours each. With 57 smashed in the powerplay, DC had brought the asking run rate down to seven an over.
WPL debutant and left-arm spinner Vaishnavi Sharma, a replacement for the injured G Kamalini, started to loop deliveries from wide of the crease that made DC’s job tougher to dispatch the ball to boundaries. Amanjot Kaur was frugal too and she accounted for Lee with a stumping through a wide down leg, although it took several replays for the third umpire Ajitesh Argal to conclude Lee’s bat was in the air and foot on the line when the bails came off. The boundaries dried up for 20 balls, the equation became a stiff 51 off 36, but Rodrigues was determined to see the chase through.
She scooped, swept, reverse swept – all while staying low on the pitch – and smacked a six over midwicket to not let the pressure get to her. One of her shots even had Wolvaardt run-out at the non-striker’s end with a deflection off Sciver-Brunt’s hand, but Rodrigues kept her nerve to beat the defending champions.
Brief scores:
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