G7 Set to OK $18B for Ukraine          05/20 06:18

   

   KOENIGSWINTER, Germany (AP) -- The Group of Seven leading economies are set 
to agree on more than $18 billion in aid for Ukrainian defense efforts as 
meetings of finance ministers close Friday, Germany's finance minister told 
Bloomberg Television.

   "I think it's a very good signal that the G-7 nations are standing shoulder 
to shoulder with Ukraine because they are not only defending themselves, they 
are defending our values," German Finance Minister Christian Lindner said in an 
interview with Bloomberg.

   A representative from the U.S. Treasury Department declined to verify the 
amount allocated, and a spokesman from the German finance ministry declined to 
comment to The Associated Press.

   U.S. Treasury Secretary Janet Yellen and other leaders spoke this week about 
the need for allies to put together enough additional aid to help Ukraine "get 
through" the Russian invasion.

   "All of us pledged to do what's necessary to fill the gap," Yellen said 
Thursday as the ministers finished their first of two days of talks. "We're 
going to put together the resources that they need."

   The G-7 finance ministers also have grappled with deepening inflation, food 
security concerns and the immediate effects of Russia's war in Ukraine during 
their talks.

   Lindner, the meeting's host, told reporters ahead of the meeting that 
Ukraine will likely need "a number of double-digit billion euros" over the 
coming months.

   As the finance ministers were meeting in Germany, the U.S. overwhelmingly 
approved its own $40 billion infusion of military and economic aid for Ukraine 
and its allies. The legislation was backed by every voting Democrat and most 
Republicans.