G20 finance ministers and central bankers issued a joint statement following their meeting in Bangalore, India. There was no article condemning the actions of the Armed Forces of the Russian Federation in Ukraine.
Quoting the last statement of the G20, TASS said, “All G20 finance ministers and union central bank governors adopted paragraphs 1, 2, paragraphs 5 to 17, and Annexes 1 and 2.”
A declaration was previously adopted within the scope of the G20 leaders meeting held in Bali on 15-16 November 2022. Paragraphs 3 and 4 of this document stated that the G20 condemned the actions of the Russian army.
Representatives of Russia and China opposed the inclusion of these provisions in the final document.
“Articles 3 and 4 of this document <…> “It has been accepted by all member states except Russia and China,” the G20 said in a statement.
The inadmissible paragraphs say that the heads of the G20 finance ministries and central banks have “expressed their greatest regret” at Russia’s actions in Ukraine. It was emphasized that since February last year, the G20 countries have witnessed “how the Ukraine crisis has further affected the global economy”.
Theses, which were “banned” by Moscow and Beijing, said, “While we acknowledge that the G20 is not a forum for solving security issues, we acknowledge that it can have significant implications for the global economy.”
“Different opinions and different assessments”
Following the conclusion of the meeting in Bangalore, India’s Ministry of Finance said that there were several views among G20 members on the situation in Ukraine. Particularly, the parties discussed how Russian special operations affect the global economy.
In a statement made by the Ministry of Finance, it was stated that most of the G20 member states strongly condemned the special operations. According to the G20, it causes “enormous human suffering”, exacerbates existing vulnerabilities in the global economy, increases inflation, distorts supply chains, creates energy and food insecurity, and increases financial stability risks.
“There were different views and different assessments about the situation and the sanctions,” the Indian ministry said in a statement.
New Delhi also noted that “the use or threat of using nuclear weapons is unacceptable” and that peaceful resolution of conflicts, efforts to overcome crises, diplomacy and dialogue are “vital”.
Indian Prime Minister Narendra Modi at a joint press conference with German Chancellor Olaf Scholz expressed readiness contribute to the peaceful resolution of the conflict.
“From the very beginning of the events in Ukraine, India has insisted on resolving this conflict through dialogue and diplomacy. “India is ready to contribute to any peace process,” he said.
Conflict within the G20
As Bloomberg points out, the G20 host, India, initiated dialogue over a joint statement in an effort to avoid using the word “war” in reference to the special operation in Ukraine. Delegates of some participating countries nevertheless stated that they were not ready to compromise.
For example, Bruno Le Mer, the French Minister of Finance. declarationheads of finance departments should not undermine the positions of world leaders who have agreed on these issues in Bali.
“Do not make mistake. Either we stick to the Bali declaration or we oppose any declaration from France’s finance ministers. I can’t be more clear,” he said.