Many G20 countries condemned Russia’s invasion of Ukraine at the group’s finance ministers and central bankers’ meeting Friday and Saturday in Bali, according to a statement from the Indonesian presidency released on Sunday.
This meeting of the big moneymakers of the G20 ended without a joint press release due to differences between the countries concerning the Russian offensive in Ukraine. Instead of this statement, Indonesia, which is trying to reconcile its neutrality in the conflict with the fact that it is the host of the G20 this year, issued a statement in its own name, in which it mentions of these discrepancies.
“Many members agreed that the recovery of the global economy has slowed down and is facing a major setback due to Russia’s war against Ukraine, which has been strongly condemned, and they called for an end to war,” the statement read.
“A member expressed the view that the sanctions aggravate the current difficulties,” the text adds, apparently in reference to Russia.
The statement also notes the lack of consensus regarding the global food crisis, exacerbated by the invasion of Ukraine.
“The majority of members agreed that there is an alarming increase in food and energy insecurity,” and “many members say they are ready to act quickly,” she says.
Russia had sent a deputy minister to the Bali meeting, with its finance minister attending virtually.
Last week, the head of Russian diplomacy Sergei Lavrov slammed the door of a meeting with his G20 counterparts in Bali after a shower of condemnations of the invasion of Ukraine.
The next G20 financial meeting is scheduled for October in Washington.