Ukraine's President Volodymyr Zelensky answers a reporter's question during a meeting with US President Joe Biden in Vilnius Lithuania on July 12, 2023. (AP)

Ukraine's security is inextricably linked to Euro-Atlantic security, the G7 group stated in a statement issued on Wednesday, adding that they will continue to back Kiev for as long as necessary.

"We affirm that the security of Ukraine is integral to the security of the Euro-Atlantic region … We will stand with Ukraine as it defends itself against Russian ‘aggression’, for as long as it takes."

According to the declaration, the G7 countries are launching negotiations with Ukraine to formalize their support to Kiev.

The declaration detailed that teams will be directed to begin discussions "immediately" and make consultations on appropriate steps to launch "in the event of future Russian armed attack."

It also provided further development of "Ukraine's defense industrial base."

The group's declaration also pledged to work toward long-term security guarantees in order to ensure the "provision of long-range fires, among other weapons."

"We will each work with Ukraine on specific, bilateral, long-term security commitments and arrangements towards: a) Ensuring a sustainable force capable of defending Ukraine now and deterring Russian aggression in the future, through the continued provision of: security assistance and modern military equipment, across land, air, and sea domains – prioritizing air defense, artillery and long-range fires, armored vehicles, and other key capabilities, such as combat air, and by promoting increased interoperability with Euro-Atlantic partners," the declaration detailed.

Russian assets to remain frozen

The declaration by the G7 also asserted that Russia's assets will remain frozen until it compensates Kiev for the damage it caused during the war.

"We reaffirm that consistent with our respective legal systems, Russia's sovereign assets in our jurisdictions will remain immobilized until Russia pays for the damage it has caused to Ukraine," it detailed.

The group also showed an intention to create a global mechanism for "reparation of damages."

"We recognize the need for the establishment of an international mechanism for reparation of damages, loss or injury caused by Russian aggression and express our readiness to explore options for the development of appropriate mechanisms," the declaration detailed.

Andriy Yermak, the director of Ukrainian President Volodymyr Zelenskyy's office, said on Wednesday that Kiev hopes to sign security assurances for Ukraine at the NATO summit in Washington in 2024, which will be in place until the nation joins the alliance.

Yermak posted on Telegram that "it is important that before the NATO summit in Washington in 2024, we have won the war and signed security assurances for our countries. They will be valid until the moment we join NATO."

US President Joe Biden stated that the G7 nations' unified expression of support includes assisting Ukraine in building a robust defense spanning land, air, and sea.

"Today's members of the G7 are launching a joint declaration of support for Ukraine to make it clear that our support will last long into the future. This starts a process by which each of our nations and any other nation who wishes to participate will negotiate long-term bilateral security commitments with and to Ukraine," Biden said. "We're going to help Ukraine build a strong capable defense across land, air, and sea … which will deter against any and all threats."

White House National Security Advisor Jake Sullivan told CNN that "we're prepared to provide that security assistance long out into the future, and certainly for the duration of the period while Ukraine is working its way on the pathway towards NATO."

After a meeting with Jens Stoltenberg in Vilnius, Zelensky stated during a press conference that Ukraine does not have "real security guarantees from our partners, I mean de jure. We have de facto security guarantees such as financial, sanctions, and defense. This is very important because it could become the first legal document symbolizing that we have such an 'umbrella.' This is the first document [which functions as] an 'umbrella' of security guarantees, and then Ukraine will have agreements with each country-guarantor of security."

The Ukrainian President added that the best guarantee would be Ukraine's ascension to NATO.

"We want to have a relevant document so that the help is based not only on our personal relations but also in writing and very concrete. Today's framework declaration and security assurances open a way to important bilateral documents," he explained, adding that "security assurances for Ukraine on the way to NATO, not instead of [Ukraine's NATo membership], I emphasize this again, namely security assurances on the way to NATO."

NATO leaders on Tuesday crushed Ukrainian President Volodymyr Zelensky's aspirations for a clear schedule for joining the alliance, saying they would only extend an invitation to join if "conditions are met."

At a NATO conference in Vilnius, Secretary-General Jens Stoltenberg emphasized that the alliance had never used "stronger language" to support Ukraine in its tough battle against Russia, although leaders vowed that "Ukraine's future is in NATO," vowing in a statement that they would extend an invitation to Kiev when conditions are met.

However, the refusal to move any further than a 2008 pledge on future membership proved to be a cruel blow to Zelensky, who was in Vilnius to push his bid further.