- The G20 summit, led by India as its President, was unable to agree on a communique that would have conveyed a stronger statement of intent due to opposition from Russia and China over the language of condemnation towards Russia’s invasion of Ukraine.
- According to Finance Minister Nirmala Sitharaman, “All countries except for China and Russia” had agreed to include the two paragraphs pertaining to the Ukraine crisis in the communique. However, China and Russia expressed their opposition and did not want the paragraphs to be included in the document.
- Ajay Seth, the Secretary of the Department of Economic Affairs, remarked that both Russia and China had argued that the G20 Finance Ministers should only address economic and financial issues and should not involve themselves in global geopolitical matters. They contended that such matters were beyond the scope of the finance ministers’ mandate.
- Ajay Seth, the Secretary of the Department of Economic Affairs, indicated that both Russia and China had objected to the inclusion of paragraphs related to the Ukraine crisis in the communique. They argued that the G20 Finance Ministers’ mandate was solely limited to economic and financial issues and should not encompass global geopolitical concerns. However, Seth clarified that there was no request or demand to remove the word “war.” Instead, Russia and China believed that the paragraphs were not suitable for the finance ministers’ meeting. In contrast, the other 18 countries at the meeting believed that the war had significant implications for the global economy and was thus relevant to the discussions.
- The summary issued by the chair of the G20 Finance Ministers’ meeting stated that “most members” expressed strong condemnation of the conflict in Ukraine. They highlighted that the war was causing significant human suffering and exacerbating existing vulnerabilities in the global economy. This includes impeding economic growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and amplifying financial stability risks. Ultimately, the members recognized that the impact of the Ukraine crisis could have serious ramifications for the global economy.
- The summary released by the chair of the G20 Finance Ministers’ meeting stressed the importance of upholding international law and the multilateral system, including the safeguarding of principles enshrined in the UN Charter and the protection of civilians and infrastructure during armed conflicts. Additionally, the summary emphasized that the use or threat of use of nuclear weapons is unacceptable.
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