Frozen Russian Assets: G7 Agrees to Raise Loan for Ukraine

New Delhi: In a move that could have wide ramifications in the Russia-Ukraine war, the G7 has decided to raise $50 billion (£39 billion) from the frozen Russian assets. Ukraine will use this amount to fight Russian forces.

Russia's Response

Moscow has threatened "extremely painful" retaliatory measures. This move by the G7 will further alienate Russia, potentially bringing China, North Korea, and Iran even closer.

Contrasting International Reactions

At a time when Israel is carrying out its military operation without any serious objections from the United States, many countries are baffled by the leeway given to Israel. Meanwhile, all kinds of sanctions are being imposed on Russia.

Double Standards in Sanctions

Why are no serious sanctions being placed against Israel, which has taken its right to defend itself to unimaginable levels, leading to thousands of civilians, including children, being killed?

Need for Peaceful Measures

There is a need to take measures to end the Russia-Ukraine war, but further unilateral decisions by groups like the G7 strengthen Russian allegations that NATO's expansionist policy created a situation where Russia decided to act against Ukraine.

Long-term Commitments

At the G7 summit in Italy, Ukrainian President Volodymyr Zelensky and President Biden signed a 10-year bilateral security deal between Ukraine and the US. Thus, the US is in for a long haul, which could spell problems for the world economy and global peace in the long run.