The Economic and Financial Affairs Council discussed the implementation of the G7 loan to be given to Ukraine with the revenues obtained from the frozen assets of the Central Bank of Russia in a meeting held yesterday. Speaking after the meeting, Hungarian Finance Minister Varga stated that they wanted the decision to renew EU sanctions against Russia to be made every 36 months instead of every 6 months after the presidential elections to be held in the US in November, making Ukraine ineligible to receive the $50B loan for now.
Speaking at the Shanghai Cooperation Organization summit in Tianjin, Turkish President Recep Tayyip Erdoğan criticized the international community for failing to stop Israel’s attacks on Gaza, where he said “babies, children, and the elderly die of starvation.” He called for urgent UN reform, arguing the current system cannot end oppression in the Middle East.
Erdoğan also highlighted Türkiye’s role in supporting regional peace efforts in Syria, the South Caucasus, and Central Asia, stressing cooperation through the Turkic States Organization and major transport projects like the Middle Corridor and Development Road. He said Türkiye seeks a just global order based on diplomacy, trade, and stability.
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