The United States said Thursday it and other G7 members will provide Kyiv with a loan of up to $50 billion that will be paid back to Western allies using interest income from Russian assets frozen in Western financial institutions.

The announcement came as President Joe Biden meets with leaders of the Group of Seven wealthy democracies Thursday at the luxury resort of Borgo Egnazia in Puglia, Italy, on the first day of their summit.

The Treasury Department announced sweeping new enforcement measures Wednesday to tighten the screws on Russia, including expanding the use of sanctions to inflict pain on outside entities that continue to do business with Moscow, known as “secondary sanctions.”

Israeli leaders have lashed out at the prospect that the Biden administration may cut off aid to one of the Jewish state's army battalions over accusations that it's committed human rights abuses in the Israeli-occupied West Bank. According to a report by Axios, sanctions against the Israeli army's ultra-Orthodox Netzah Yehuda battalion could be announced in the coming days.

The U.S. is reportedly considering sanctions against the Netzah Yehuda, an Israeli Defense Force unit linked to violence against Palestinians in the West Bank, but Israeli Prime Minister Benjamin Netanyahu said Sunday he would fight the sanctions “with all my strength”—joining liberal and conservative members of the Knesset in condemning the possible move shortly after the U.S. approved a $26 billion aid package for the Israeli military.

In a historic first, the United States is set to sanction a unit of the Israel Defense Forces.

According to three sources speaking with Axios, Secretary of State Antony Blinken will announce sanctions against the IDF’s 97th Netzah Yehuda Battalion. Notably, the sanctions are not due to any actions during the war in Gaza, but rather human rights abuses committed in the West Bank before Oct. 7, 2023.

The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, arming Washington’s top envoy with diplomatic leverage that officials hope will stop Beijing’s commercial support of Russia’s military production, according to people familiar with the matter.

The US is preparing to sanction some Chinese banks in an attempt to curb Beijing’s financing of Russia’s war in Ukraine, The Wall Street Journal reported.

The proposed sanctions come as US Secretary of State Antony Blinken is set to travel to China this week.

Washington has been increasing pressure on Beijing regarding its facilitation of exports to Moscow, and views sanctions as an escalatory measure if China does not respond to talks.

The United States slapped new sanctions Thursday on 16 people and two entities associated with Iran’s drone program as it looks to punish Tehran for last weekend’s attack on Israel.

The sanctions target executives of an engine manufacturer that supplies Iran’s Shahad-131 drones, which were used in the onslaught, as well as companies that service the engines and individuals associated with providing the drones to Iranian proxy forces throughout the Middle East.

President Biden announced sanctions against Iranian steel and drone companies as well as 16 individuals Thursday in response to last weekend’s aerial attack by Tehran against Israel — after years of similar Iranian drones pummeling Ukraine and without clamping down on Iran’s lucrative oil exports.