Russian aggression has overshadowed recent G20 meetings, including a meeting of foreign ministers last week.
Meeting of ministers the G20's finances may end without a joint communique due to different positions on the Russian Federation's war against Ukraine. This was reported by Reuters.
Indonesia, which is hosting the meeting of finance ministers, called on the financial leaders of the G20 countries to focus on the goals for the recovery of the world economy. But sources Reuters reported that the Bali meeting is likely to end without a formal communique as Russia's war against Ukraine continues to divide the group.
Indonesian Finance Minister Sri Mulyani Indrawati is expected to issue a statement summarizing the meeting.
“We do not expect a communiqué,” a source told Reuters.
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High-ranking Western officials, including US Treasury Secretary Janet Yellen and Canadian Treasury Minister Chrystia Freeland, condemned the war and criticized Russian officials for the huge economic fallout caused by Russia's invasion of Ukraine.
Minister of Finance of Ukraine Serhii Marchenko, who spoke at the meeting virtually, called for “tougher targeted sanctions” against Russia. Russia's war against Ukraine has overshadowed recent G20 meetings, including a meeting of foreign ministers last week.
Indonesia's central bank chief Perry Varjiyo said G20 representatives had fruitful discussions but the group must achieve concrete results to support the global economy.
“It is important that we remain focused on what we have planned to achieve this year, as this will also send a positive message to the global community about the role and efforts of the G20 in supporting global recovery,” Warjiyo noted.
Sri Mulyani Indrawati hoped , that delegates will be able to reconcile their differences over the war to jointly address rising commodity prices, an escalating food security crisis and the knock-on effect on the ability of low-income countries to service their debts.
This has proved too difficult in the current situation, when Western countries have imposed severe sanctions against Russia and accused it of war crimes against Ukraine, while other G20 countries, including China, India and South Africa, have been more restrained in their response to Russian aggression.
Western sources warned earlier this week that it would be difficult to agree on a communique because the group works by consensus and Russia blocked wording on the causes of the economic downturn that prompted the World Bank and International Monetary Fund to cut growth forecasts.
“The ability of the G20 to act and communicate is greatly hindered by the Russian Federation's war against Ukraine, for which one of the G20 members bears full responsibility,” said a source in the French Ministry of Finance.
Today, July 16, the G20 finance ministers will discuss post-pandemic financial stability, crypto-assets, and financial risks related to climate change, among other topics.
Read also: The US Treasury has named 18 countries that help Russia and Belarus circumvent sanctions global economic threats caused by Russia's war in Ukraine, otherwise the humanitarian consequences will be catastrophic for the whole world. supply of weapons to Ukraine — GURFor this purpose, Russian agents intensified their activities in the countries of Eastern Europe. Most likely, Putin knows about all the war crimes of his army – the US ambassador Moscow, even despite the confirmation of the atrocities of its soldiers in the OSCE report, continues to reject all accusations . In Nikopol, the bodies of two dead people were found from under the rubble of a house, another wounded woman is in the hospital – the head of the OVA In the morning, the invaders hit Nikopol from “Gradiv”. Shoigu gave instructions to the Russian army to increase operations in all directions in Ukraine – rosZMI The head of the Ministry of Defense of the aggressor country inspected the grouping of his troops, but did he arrive at the captured Ukrainian territory, unknown. The EU spent more money on the purchase of oil, gas and coal from the Russian Federation than it sent to help Ukraine – the former head of the Ministry of Foreign Affairs of Lithuania Linkevičius reminded that oil prices are growing, and the Russian ruble has become stronger.
