G20 Finance Leaders Adopt Final Statement Amid Russia Tensions, China’s Objection

G20 finance leaders wrapped up a two‑day meeting on Tuesday, issuing a statement that all members except China endorsed fully, with Washington asserting that the presence of a Russian minister had no bearing on the discussions.

U.S. Treasury Secretary Scott Bessent noted that the broad consensus on the chair’s final statement indicated that Russia’s attendance had “no impact” on the proceedings.

Ukraine’s European partners voiced frustration after Russian Finance Minister Anton Siluanov was welcomed at the U.S.-hosted gathering in Asheville, North Carolina.

The escalating conflict in the Middle East and President Donald Trump’s tariff measures also cast a shadow over the meeting.

The chair’s communiqué advocated for “free, safe, and predictable navigation through the Strait of Hormuz,” a point on which China expressed dissent.

The critical waterway has been largely obstructed by Tehran since hostilities began in late February, following U.S.-Israeli strikes on Iran.

A traditional “family photo” of G20 members was taken on Monday without Siluanov, after European officials protested his inclusion.

An EU spokesperson said participants received only brief advance notice of Siluanov’s attendance.

“It created discomfort, no doubt about that,” Canadian Finance Minister François‑Philippe Champagne told AFP on Tuesday, acknowledging that Siluanov’s presence may have affected the talks.

EU economy chief Valdis Dombrovskis told reporters that now was not the time to “normalize” Russia’s presence at such gatherings.

He argued that including Moscow means discussing sensitive economic issues with a government that is “waging an aggressive war” and “killing civilians on a daily basis” in its conflict with Ukraine.

However, Bessent countered at a press conference: “I know some Europeans felt a sour taste, but I believe it is crucial to engage.”

He added that the finance minister he met with—Siluanov—is not subject to sanctions.

The tension escalated as Germany on Tuesday blamed Russia for an attempted “hybrid attack” involving a drone at a strategic German airport last month, unveiling diplomatic countermeasures.

The United States holds the rotating G20 presidency and this week was also seeking to rally support from partners on Iran sanctions and addressing trade imbalances.

When asked whether he had also pressed Russia to reduce its support for Iran, Bessent told reporters earlier that “many conversations are best conducted privately.”

Persistent imbalances

Another point of contention for China was a statement that “excessive and persistent imbalances pose risks and can generate economic distortions.”

This echoes criticism of overcapacity in the world’s second‑largest economy, which critics argue creates unfair competition and pushes prices lower.

“We need to discuss and pursue collective action, because today’s global imbalances are not sustainable,” Champagne said. “Everyone must be at the table.”

The G20 consists of 19 countries plus the European Union and the African Union, and was founded after the 1997‑1998 Asian financial crisis to enhance global economic and financial stability.

The G20 finance meetings also set the stage for a leaders’ summit that Trump will host in December in Miami.

Another topic raised was support for Ukraine, which was also examined on the sidelines of the meeting by the Group of Seven advanced economies.

Moscow has intensified its strikes on Kyiv this summer. U.S.-mediated talks remain stalled, while the Kremlin has upheld its maximalist demands to end the conflict.

German Finance Minister Lars Klingbeil said on Tuesday that there has been an “increase in brutal rocket attacks on the civilian population.”

“This all has to come to an end,” he added.

Klingbeil said that he and other European ministers “made our position on Ukraine absolutely clear.” As G7 leaders convened late Monday, Ukraine’s finance minister joined via remote link to discuss support for Kyiv.

(FRANCE 24 with AFP)

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