G20 summit deplores war in Ukraine ‘in strongest terms’

  • According to the G20, “most members” condemn the war in Ukraine
  • Threat of use of nuclear weapons “inadmissible” – declaration
  • Agreement to calibrate monetary tightening

NUSA DUA, Indonesia, November 16 (Reuters) – Leaders of the Group of 20 (G20) deplored Russia’s aggression against Ukraine “in the strongest terms” on Wednesday and demanded its unconditional withdrawal in a statement adopted after a period of two years. peak of the day.

Leaders of the world’s largest economies also agreed to pace of interest rate hikes carefully to avoid spillovers and warned of “increased volatility” in currency movements, but it was Ukraine that dominated the summit on the Indonesian island of Bali.

“Most members strongly condemned the war in Ukraine,” the statement said, noting that Russia, which is a member of the G20, opposed the wording. The positions taken by China and India, which abstained from a similar UN resolution in March, were not immediately clear.

However, at least three diplomats said the statement, which acknowledged that “there are other views and different assessments of the situation and the sanctions”, was adopted unanimously.

“The use or threat of use of nuclear weapons is impermissible,” the statement also said.

“It is essential to uphold international law and the multilateral system that preserves peace and stability. This includes upholding all the purposes and principles enshrined in the Charter of the United Nations and respecting international humanitarian law.

Earlier, the day’s schedule at the summit was disrupted by an emergency meeting to discuss reports of a missile landing on Polish territory near Ukraine on Tuesday and killing two people.

US President Joe Biden said after the meeting that the United States and its NATO allies were investigating the blast, but early reports suggested it may not have been caused by a missile fired from Russia.

Poland, a member of NATO, said rocket killed two people in eastern Poland near Ukraine, and he summoned the Russian ambassador for an explanation after Russia denied responsibility.

Leaders of the Group of Seven nations, Spain, the Netherlands and the EU, all of whom were in Bali for the G20 summit, attended the meeting. The G7 includes the United States, Germany, France, Canada, Italy, Great Britain and Japan.

Taking a break from negotiations, G20 leaders dressed in white shirts, some with baseball caps with the G20 logo, took part in a ceremony to plant mangrove saplings to signal the fight against climate change.

They agreed to continue their efforts to limit the rise global temperatures to 1.5°C, including accelerating efforts to phase out the relentless use of coal.

On the sidelines of the summit, US Treasury Secretary Janet Yellen held a two hour meeting with China’s central bank governor Yi Gang, his first face-to-face talks with a senior Chinese economic official.

She had said ahead of the meeting that she hoped to gain further insight into China’s political plans and work towards more economic engagement between the two countries.

WTO General Manager Ngozi Okonjo-Iweala told Reuters on the sidelines of the summit that several major economies were at real risk of sliding into recession as war in Ukraine, rising food and fuel prices and soaring inflation cloud the global outlook.

“CALIBRATE CURRENCY TIGHTENING”

But it was the Western-led push to condemn Russia for its invasion of Ukraine that dominated the talks.

Many participants said President Vladimir Putin’s February 24 invasion of Ukraine had hit the global economy and reignited Cold War-era geopolitical divisions just as the world was emerging from the worst of the COVID-19 pandemic.

Russia, whose forces pounded towns and energy facilities across Ukraine on Tuesday at the G20 meeting, said the “politicization” of the summit was unfair.

“Yes, there is a war going on in Ukraine, a hybrid war that the West has been unleashing and planning for years,” Foreign Minister Sergey Lavrov said on Tuesday, repeating Putin’s line that the expansion of NATO had threatened Russia. Lavrov was representing Putin at the summit but left on Tuesday evening. Russia was then represented by Finance Minister Anton Siluanov.

The West has accused Russia of doing irresponsible statements on the possible use of nuclear weapons since its invasion of Ukraine. Russia has in turn accused the West of “provocative” nuclear rhetoric.

The 19 G20 countries with the European Union represent more than 80% of the world’s gross domestic product, 75% of international trade and 60% of its population.

Host Indonesia pleaded for unity and a focus on issues such as inflation, hunger and high energy prices, all exacerbated by war.

In their statement, the leaders said the global economy was facing “unprecedented multidimensional crises”, ranging from war in Ukraine to soaring inflation, forcing many central banks to tighten monetary policy.

In addition to accepting calibrate monetary tighteningG20 members reaffirmed their desire to avoid excessive exchange rate volatility while acknowledging that “many currencies have moved significantly” this year.

On debt, they expressed concern about the “worsening” situation of some middle-income countries and stressed the importance of all creditors sharing a fair burden.

Reporting by Francisca Nangoy, Stanley Widianto, Nandita Bose, Leika Kihara, David Lawder and Simon Lewis in Nusa Dua, Andrea Shalal in Washington, Andreas Rinke in Berlin; Written by Ed Davies; Editing by Raju Gopalakrishnan, Robert Birsel and Tom Hogue

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