Ukraine dominates agenda as G7 leaders gather in Italy for summit

The G7 leaders are huddling in Italy for a three-day summit dominated by the wars raging in Ukraine and Gaza, in addition to the growing trade and security tensions with China.

Ukrainian President Volodymyr Zelensky was invited to attend the gathering of the Group of Seven, which starts on Thursday at the luxury resort of Borgo Egnazia to the south-east of the city of Bari in southern Italy's Apulia region.

This could be Joe Biden's final G7 summit, coming five months before he faces his predecessor and right-wing Republican rival Donald Trump in a tense US presidential contest.

European leaders are under domestic political pressure, too.

French President Emmanuel Macron and German Chancellor Olaf Scholz will arrive after far-right parties made big gains in last weekend's European Parliament elections, raising questions about their countries' political environments.

And, after 14 years of Conservative government in Britain, Prime Minister Rishi Sunak is expected to suffer a stinging defeat to the opposition Labour Party in the July 4 general election.

Ukraine will be at the top of the agenda of the meeting of the world's advanced industrialized democracies: Britain, Canada, France, Germany, Italy, Japan and the United States. The European Union also takes part.

Kiev can expect to receive a huge new aid package from the G7 for its defence against Russia. The leaders are set to agree to finance a loan of $50 billion for Ukraine with interest from frozen Russian state assets.

The lion's share of the frozen assets - around €210 billion - is within the European Union. The Russia money generates billions in interest income every year.