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"How G7 leaders plan to loan Ukraine billions."

Views expressed in this U.S., World, and Geopolitical News update are those of the reporters and correspondents.  Accessed on 13 June 2024, 1254 UTC.

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By Sarah Naffa June 13, 2024

In the news today: G7 leaders have agreed to engineer a $50 billion loan to help Ukraine; Mexico’s tactic to cut immigration to the US is to wear out migrants; and the Supreme Court has to deal with a sizable case backlog. Also, can the currywurst win over new fans? President Joe Biden arrives at Brindisi International Airport, Wednesday, in Brindisi, Italy. (AP Photo/Alex Brandon) WORLD NEWS G7 leaders agree to lend Ukraine billions backed by Russia’s frozen assets. Here’s how it will work Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival that would use interest earned on profits from Russia’s frozen central bank assets as collateral. Read more.

Key points: Where would the money come from: Most of the money would be provided in the form of a loan from the U.S. government, backed by windfall profits earned on $300 billion in immobilized Russian assets. The vast majority of the money is being held in European Union nations. Why not just give Ukraine the frozen assets: That’s much harder to do. For more than a year, officials have debated the legality of confiscating the money and sending it to Ukraine, but the process requires an extra layer of judicial procedure, including a legal basis and adjudication in a court. Who would be on the hook in the case of a default: If Russia regained control of its frozen assets or if the immobilized funds weren’t generating enough interest to pay back the loan, “then the question of burden-sharing arises,” according to one French official who was not authorized to be publicly named. Who would shoulder the burden is still to be worked out, they said.

RELATED COVERAGE ➤ 9 killed in Russian aerial attacks on Ukraine ahead of G7 summit aimed at slowing Moscow’s offensive US widens sanctions on Russia to discourage countries such as China from doing business with Moscow Hungary agrees not to veto NATO support to Ukraine as long as it’s not forced to help out IMMIGRATION Mexico has a tactic to cut immigration to the US Driven by mounting pressure from the U.S. to block millions of vulnerable people headed north, but lacking the funds to deport them, Mexican authorities are employing a simple but harsh tactic: wearing migrants out until they give up. Read more.

Why this matters: Migrants are churning in limbo as authorities round them up across the country and dump them in the southern Mexican cities of Villahermosa and Tapachula. Some have been punted back as many as six times. The moves have forced migrants, including pregnant women and children, into even more precarious situations. That’s likely to worsen under President Joe Biden’s new asylum restrictions, analysts say. Mexico’s actions explain a plunge in arrivals to the U.S.-Mexico border, which dropped 40% from an all-time high in December and persisted through the spring. U.S. officials mostly credit Mexican vigilance around rail yards and highway checkpoints.

RELATED COVERAGE ➤ President Joe Biden faces first lawsuit over new asylum crackdown at the border AP sources: 8 people with possible Islamic State ties arrested in US on immigration violations Some nationalities escape Biden’s sweeping asylum ban because deportation flights are scarce U.S. NEWS The Supreme Court has a lot of work to do and little time to do it The Supreme Court is headed into its final few weeks with nearly half of the cases heard this year still undecided, including ones that could reshape the law on everything from guns to abortion to social media. Read more.

Why this matters: The court heard 61 cases this term, and 29 remain unresolved, with some decisions expected Thursday and Friday. The justices are also still weighing whether former President Donald Trump is immune from criminal prosecution in the election interference case against him. The timing of the decision may be as important as the outcome. Trump’s trial may not take place before the November election, even if the court rules he is not immune.

RELATED COVERAGE ➤ Courts are supposed to be above politics. Why are they weighing in on elections? 3 Nixon justices helped end his presidency. Will the 3 Trump appointees force him to stand trial? Trump is returning to Capitol Hill to meet with Republican lawmakers, a first since Jan. 6 attack ADVERTISEMENT IN OTHER NEWS READ Biden audio: House votes to hold Attorney General Merrick Garland in contempt of Congress Dangerous weather: Florida's 2024 hurricane season arrives with a rainy deluge $44.9 billion package: Future of Elon Musk and Tesla are on the line as shareholders vote on pay package Tech Tip: Use a roaming eSIM on your summer travels to avoid cellphone data fees Spicy noodles: Denmark recalls spicy South Korean noodles over health concerns Today in History: In 1967, Thurgood Marshall is nominated to become the first Black Supreme Court justice WATCH Bus hijacking: Man rambled to AP reporters after an Atlanta shooting. Then he hijacked a bus, police say Stranded man: Kite surfer rescued from remote beach after making ‘HELP’ sign ‘That’s not for you guys’: Homeowner confronts bear relaxing on a hammock in his yard Life Hack: How to budget for vacation ‘Bridgerton’: Luke Newton and Nicola Coughlan on fans ’shipping’ them A CHANGE OF PACE Currywurst, Germany's sausage with curry sauce. (AP Photo/Markus Schreiber) Can the currywurst win over new fans? Currywurst has a special place in the food culture of Berlin. And during the Euro 2024 Championship, which kicks off on Friday, UEFA has confirmed that soccer fans will find this savory German invention on offer at stadiums nationwide. “Our city is all about currywurst, and I think our city can’t live without currywurst,” said Linda Konnopke, who helps run her family’s popular fast-food joint in Berlin.

Please let us know what you think of this newsletter. You can sign up for more and invite a friend here. For news in real time visit APNews.com. - Sarah

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