G7 set to discuss climbing oil prices, release of emergency reserves
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint r...
The full 28-point framework outlining a proposed settlement between Ukraine and Russia has been published by Axios, but has yet to be officially published. Drafted by the U.S. administration, it says it's built on security guarantees, territorial provisions and long-term economic arrangements.
The document sets out a detailed structure covering security, political commitments and future economic cooperation. The plan opens with an affirmation of Ukraine’s sovereignty and outlines a non-aggression agreement involving Russia, Ukraine and Europe, with the aim of removing uncertainty that has shaped regional tensions since the early 1990s.
The proposal also calls for Russia to refrain from entering neighbouring countries, while NATO would halt further expansion. A U.S.-mediated dialogue between Russia and NATO would be created to rebuild communication channels and address long-standing security concerns.
The plan proposes security guarantees for Ukraine and limits the size of its armed forces to 600,000 personnel, alongside a constitutional commitment that the country will not join NATO. The alliance would formally rule out Ukrainian membership and agree not to deploy troops on Ukrainian soil.
The framework also mentions the stationing of European fighter jets in Poland as part of the wider security structure.
Washington would provide a guarantee with specific conditions. Ukraine would lose the guarantee if it were to invade Russia, while any Russian attack on Ukraine would trigger a coordinated military response and the restoration of all global sanctions.
The guarantee would also lapse if Ukraine launched a missile strike on Moscow or St Petersburg without cause. Ukraine would be considered eligible for EU membership and would receive temporary preferential access to the European market during the accession process.
A reconstruction package forms a significant part of the plan, led by a Ukraine Development Fund focused on technology, data infrastructure and artificial intelligence (AI). The United States pledges to help rebuild damaged cities, energy networks and industrial capacity, as well as work with Ukraine on natural resource development.
Russia would gradually reintegrate into the global economy. Sanctions would be lifted in stages, and Russia would be invited to rejoin the G8. The U.S. and Russia would pursue cooperation in sectors such as energy, minerals, AI and Arctic resource extraction.
Frozen Russian assets would be divided between reconstruction efforts and a joint U.S.-Russia investment fund. The framework states that $100 billion would be directed to U.S.-led rebuilding programmes in Ukraine, with the United States receiving half of the resulting profits, while Europe would contribute an additional $100 billion. Remaining frozen assets would support joint ventures aimed at building long-term stability.
A joint security working group would be created to monitor compliance, and Russia would be expected to legally commit to a non-aggression policy toward Europe and Ukraine.
The plan also calls for renewed bilateral agreements on nuclear arms control, including extending the validity of the START I Treaty. Ukraine would reaffirm its non-nuclear status under the Non-Proliferation Treaty.
The Zaporizhzhia Nuclear Power Plant would return to operation under the International Atomic Energy Agency (IAEA) supervision, with electricity shared equally between Russia and Ukraine.
The document also sets out social and educational commitments designed to reduce discrimination, protect minority rights and ban extremist ideology. Both states would introduce programmes promoting cultural tolerance, with Ukraine implementing EU standards on religious and linguistic protections.
The territorial section recognises Crimea, Luhansk and Donetsk as de facto Russian while freezing positions in Kherson and Zaporizhzhia along current lines. Russia would relinquish other agreed areas, and parts of Donetsk under Ukrainian control would form a demilitarised buffer under Russian sovereignty but without Russian troop presence. Both sides would commit not to alter future arrangements by force, with any breach invalidating security guarantees.
Commercial access to the Dnieper River would be ensured, and grain shipments across the Black Sea would be protected through new agreements. A humanitarian committee would be set up to manage issues such as prisoner exchanges on an “all for all” basis, the return of civilian detainees and children, family reunification and broader measures aimed at easing the suffering of those affected by the conflict.
Ukraine would hold national elections within 100 days of the agreement taking effect. Full amnesty would cover all parties for actions committed during the conflict, with no future claims or legal complaints. The entire framework would be legally binding and overseen by a Peace Council chaired by President Donald J. Trump.
A ceasefire would begin once both sides withdraw to the agreed points and implementation commences.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Baku has completed its evacuation of staff from the Azerbaijan Consulate General in Tabriz, while most employees from the Azerbaijan Embassy in Tehran have also returned.
Tehran’s Mehrabad Airport came under attack in heavy airstrikes on early Saturday morning (7 March), Iranian news agencies reported.
U.S. President Donald Trump threatened further attacks on Iran on Saturday (7 March), while the United Arab Emirates and Saudi Arabia continued to shoot down missiles in their airspace. Meanwhile, Iran’s President Masoud Pezeshkian said Tehran would stop attacking its neighbours.
Russian attacks on Ukraine’s second largest city in the early hours of Saturday (7 March) killed 10 people, including two children. Kharkiv mayor, Ihor Terekov, said 10 residents died after a Russian ballistic missile hit a five storey apartment block in the city.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Recent operations by the U.S. military have led some to believe that a decapitating strike is a silver bullet capable of fixing any foreign policy problem swiftly. However, this logic is flawed, and the risks of relying on swift, targeted actions are too great to ignore.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
Global oil prices have surged past $110 a barrel this Monday as fresh U.S.-Israeli strikes hit multiple targets, including oil depots. Stock markets fell on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz, raising concerns over global energy supply.
The U.S. embassy in Oslo was hit by a loud explosion early on Sunday (8 March), causing minor damage but no injuries, in what may have been a deliberate attack linked to the crisis in the Middle East, Norwegian police said.
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