Berliner Boersenzeitung - World leaders seek united front for Ukraine as war rages on

EUR -
AED 4.102105
AFN 75.943776
ALL 98.559302
AMD 432.564919
ANG 2.012493
AOA 1053.718626
ARS 1078.246379
AUD 1.615995
AWG 2.013058
AZN 1.903018
BAM 1.956263
BBD 2.254705
BDT 133.431563
BGN 1.95567
BHD 0.420474
BIF 3227.592984
BMD 1.116814
BND 1.432422
BOB 7.716309
BRL 6.068661
BSD 1.116649
BTN 93.443216
BWP 14.597564
BYN 3.654164
BYR 21889.557957
BZD 2.250874
CAD 1.510324
CDF 3199.673034
CHF 0.93949
CLF 0.036393
CLP 1004.183913
CNY 7.830771
CNH 7.796932
COP 4662.174305
CRC 579.581211
CUC 1.116814
CUP 29.595576
CVE 110.844247
CZK 25.143401
DJF 198.480656
DKK 7.45943
DOP 67.511856
DZD 147.632829
EGP 53.951777
ERN 16.752213
ETB 133.128577
FJD 2.438568
FKP 0.85052
GBP 0.835251
GEL 3.038171
GGP 0.85052
GHS 17.612595
GIP 0.85052
GMD 76.506072
GNF 9640.902719
GTQ 8.637546
GYD 233.589897
HKD 8.680271
HNL 27.775602
HRK 7.593232
HTG 147.162717
HUF 397.072547
IDR 16891.646973
ILS 4.130236
IMP 0.85052
INR 93.498064
IQD 1463.026578
IRR 47023.461504
ISK 150.960204
JEP 0.85052
JMD 175.431498
JOD 0.791491
JPY 158.761881
KES 144.069421
KGS 94.039997
KHR 4539.850039
KMF 493.213107
KPW 1005.13213
KRW 1463.356082
KWD 0.34064
KYD 0.930595
KZT 535.615475
LAK 24662.053383
LBP 100066.551049
LKR 333.41887
LRD 216.410712
LSL 19.192495
LTL 3.297662
LVL 0.67555
LYD 5.294124
MAD 10.82556
MDL 19.447167
MGA 5082.621727
MKD 61.575479
MMK 3627.368897
MNT 3794.934539
MOP 8.941976
MRU 44.354319
MUR 51.318034
MVR 17.154688
MWK 1938.789804
MXN 22.01096
MYR 4.606902
MZN 71.336549
NAD 19.192495
NGN 1863.393714
NIO 41.102919
NOK 11.731184
NPR 149.506067
NZD 1.761259
OMR 0.429471
PAB 1.116634
PEN 4.187052
PGK 4.437666
PHP 62.551688
PKR 310.143432
PLN 4.278011
PYG 8716.061777
QAR 4.066042
RON 4.979097
RSD 117.161668
RUB 105.231058
RWF 1487.59649
SAR 4.189354
SBD 9.261119
SCR 14.79953
SDG 671.767835
SEK 11.26907
SGD 1.429415
SHP 0.85052
SLE 25.516192
SLL 23419.029236
SOS 637.701275
SRD 34.286758
STD 23115.798718
SVC 9.770311
SYP 2806.029064
SZL 19.192494
THB 36.151687
TJS 11.881355
TMT 3.90885
TND 3.394561
TOP 2.615695
TRY 38.121675
TTD 7.585372
TWD 35.28057
TZS 3048.90309
UAH 45.967974
UGX 4125.289807
USD 1.116814
UYU 46.821075
UZS 14225.424679
VEF 4045718.043587
VES 41.120607
VND 27484.797006
VUV 132.590423
WST 3.124246
XAF 656.162155
XAG 0.035308
XAU 0.000421
XCD 3.018247
XDR 0.826043
XOF 657.249161
XPF 119.331742
YER 279.566552
ZAR 19.115571
ZMK 10052.671816
ZMW 29.530836
ZWL 359.613711
  • SCS

    0.0400

    13.25

    +0.3%

  • GSK

    -0.1900

    40.71

    -0.47%

  • RIO

    0.4800

    71.23

    +0.67%

  • AZN

    -0.5600

    77.62

    -0.72%

  • RBGPF

    64.7500

    64.75

    +100%

  • BTI

    -0.2369

    36.84

    -0.64%

  • CMSD

    -0.0300

    25.08

    -0.12%

  • CMSC

    0.0300

    25.14

    +0.12%

  • BCE

    0.3600

    35.19

    +1.02%

  • RELX

    -0.5300

    47.56

    -1.11%

  • NGG

    -0.3300

    69.73

    -0.47%

  • BP

    0.6300

    31.42

    +2.01%

  • BCC

    1.1800

    141.49

    +0.83%

  • VOD

    0.0500

    10.09

    +0.5%

  • RYCEF

    0.0100

    7.05

    +0.14%

  • JRI

    0.1200

    13.58

    +0.88%

World leaders seek united front for Ukraine as war rages on
World leaders seek united front for Ukraine as war rages on / Photo: Oleksandr GIMANOV - AFP

World leaders seek united front for Ukraine as war rages on

World leaders including US President Joe Biden will seek to close ranks at back-to-back summits from Sunday on offering emphatic support to help Ukraine repel Russian invaders as the relentless war puts international unity to the test.

Text size:

In the face-to-face talks, the allies will take stock of the effectiveness of sanctions imposed so far against Vladimir Putin's Russia, consider possible new military and financial aid for Ukraine, and begin turning their eye to longer-term reconstruction plans.

But they will also be struggling to maintain a united front as the fallout from the war -- from soaring inflation to looming food shortages to fears over energy supplies -- tug at their resolve.

Ahead of the summit of G7 most industrialised nations which will be hosted from Sunday at the Bavarian mountain resort of Elmau Castle, German Chancellor Olaf Scholz warned that allies would need stamina in shoring up Ukraine.

"The truth is, we are still far from negotiations between Ukraine and Russia" because Putin "still believes in the possibility of a dictated peace", Scholz said on Wednesday.

"It is therefore all the more important that we stay firmly on course -- with our sanctions, with internationally coordinated arms deliveries, with our financial support for Ukraine."

Scholz will be arriving in Elmau from an EU summit in Brussels, where the 27-member bloc on Thursday agreed to grant "candidate status" to Ukraine.

After the G7 summit closes on Tuesday, the leaders will head to a gathering of NATO powers in Madrid.

There, cracks are already apparent over Sweden and Finland's bids for accession, after Turkey blindsided the 30-member defence alliance in opposing the applications.

- 'Increase pressure' -

Western allies have supplied Ukraine with billions in financial aid and armaments, with the US leading the charge with $5.6 billion worth of weapons alone.

But as the war drags into its fifth month, Ukraine has repeatedly warned that it needs far more support to withstand the grinding Russian assault.

Ukraine's President Volodymyr Zelensky will participate in the G7 and NATO summits in separate video-link sessions, but he has made his agenda abundantly clear with his repeated pleas for more pressure on Russia and more weapons for his troops.

Washington said leaders at the G7 plan to "roll out a concrete set of proposals to increase pressure on Russia".

Yet allies' coordinated unprecedented action to shut down Russia's economy has failed so far to work.

Instead, it has exposed the Achilles heel of energy reliance that continues to crimp the ability of major players like Germany or Italy to go all out in punishing Moscow.

As the impact of Western sanctions start to trigger more violent aftershocks in the world economy, a backlash was also looming in other parts of the world.

Three invited guests at the G7 summit -- India, Senegal and South Africa -- have all shied away from condemning Russia over its invasion and all three face being hard hit by looming food shortages.

A fourth guest, Indonesia, while voting for Russia to withdraw from Ukraine in a March UN vote, has refused to bar Putin from the G20 summit it is hosting in November. Instead, it has invited Zelensky too to attend.

Thorsten Brenner, director of the Global Public Policy Institute, noted that "a crucial task is convincing many non-Western countries who are sceptical of sanctions that the West is mindful of their concern about rising energy prices when designing sanctions".

"G7 also needs to make it clear that... the West lives up to its responsibility of advancing food security in most vulnerable countries."

- 'Not a catastrophe' -

Meanwhile in Madrid, where a broader spectrum of countries count among members, military support for Ukraine will be on the NATO agenda.

Here too, leaders will be keen to demonstrate their ironclad resolve to shield member states against Russia.

But Turkey's opposition of Finland and Sweden's membership bids looks set to tarnish the show of unity.

The remaining 29 NATO leaders will seek to get Turkish President Recep Tayyip Erdogan to move towards a compromise but Germany has sought to manage expectations, saying it "would not be a catastrophe if we need a few more weeks" to reach an agreement.

The delay was an unwelcome distraction, and overshadows plans by the alliance to unveil plans to bolster its forces on its eastern flank with an eye to facing down Russia in the longer term.

NATO rushed tens of thousands of troops to eastern Europe in the wake of the invasion and members on Russia's borders were calling for major deployments to be stationed permanently as a new defensive wall.

But beyond Russia, the alliance will also update its "strategic concept" for the first time in a decade.

Crucially, it is not only expected to toughen its stance towards Russia but also mention the challenges posed by China for the first time.

(L.Kaufmann--BBZ)