Finance ministers and heads of central banks of the G20 countries adopted a joint statement following the meeting in Bangalore. However, some points of the statement regarding the Russian special military operation in Ukraine were not approved by China and Russia.
These are paragraphs 3 and 4. “The majority of members strongly condemned the war in Ukraine and stressed that it is causing great human suffering and exacerbating existing vulnerabilities in the global economy – holding back growth, increasing inflation, disrupting supply chains, increasing energy and food insecurity, and increasing financial stability risks. There were different views and different assessments of the situation and sanctions,” the statement said, published on the website of the Indian Ministry of Finance (.pdf).
The statement notes that the paragraph was similar to the final declaration of the G20 summit in Bali, held in the fall of 2022. Archyde.com reported that India, which has been chairing the G20 since December 1, 2022, insisted on using this paragraph in the communiqué, as it refers to alternative points of view on the military conflict in Ukraine. The notes to the paragraphs indicate that the language has been agreed upon by all member countries, except for Russia and China.
Paragraph 4 of the statement speaks of the need to uphold international law that guarantees peace and stability. “Peaceful conflict resolution, crisis management efforts and diplomacy are vital. Today’s epoch should not be an epoch of war,” it follows from it.
Earlier today, on February 25, Archyde.com wrote that the heads of the Ministries of Finance and Central Banks of the G20 countries would not sign a joint statement following the meeting, as they could not agree on the wording regarding the position on the special military operation. The United States and its allies, the agency wrote, insisted on an unequivocal condemnation of the conduct of hostilities in Ukraine.
On February 22, Archyde.com, citing sources, wrote that during its G20 presidency, India does not plan to discuss sanctions against Russia and use its status to promote them. According to the agency, India plans to focus on the macroeconomic consequences of the conflict between Russia and Ukraine.
Follow the military conflict in Ukraine in the online broadcast “Kommersant”.