PanamaTimes

Tuesday, Jul 01, 2025

No G20 Joint Statement After China Objects To Use Of "War" Over Ukraine

No G20 Joint Statement After China Objects To Use Of "War" Over Ukraine

G20 finance ministers again failed Saturday to agree a joint statement on the global economy at talks in India, after China sought to water down references to the Ukraine war.
G20 finance ministers failed Saturday to agree a joint statement on the global economy at talks in India, after China sought to water down references to the Ukraine war.

Instead current G20 president India issued a "chair's summary" which said "most members strongly condemned the war in Ukraine" and that there were "different assessments of the situation and sanctions" at the two-day meeting in Bengaluru.

A footnote said two paragraphs in the summary about the war, which it said were adapted from the G20 Bali Leaders' Declaration in November, "were agreed to by all member countries except Russia and China".

Spain's representative Nadia Calvino had said earlier that because of "less constructive" approaches by some unspecified countries at the talks among the world's top 20 economies, agreeing on a statement was "difficult".

China wanted to change the language of the declaration from November, officials told AFP, with one saying on condition of anonymity that Beijing wished to remove the word "war".

Previous meetings of G20 finance ministers and central bank chiefs have also failed to produce a common communique since Russia, a member of the grouping, invaded its neighbour last February.

Senior Indian official Ajay Seth said the Chinese and Russian representatives did not want to sign up to the wording on Ukraine because "their mandate is to deal with economic and financial issues".

"On the other hand, all the other 18 countries felt that the war has got implications for the global economy" and needed to be mentioned, Seth told a closing news conference.

China has sought to position itself as neutral on the conflict while maintaining close ties with strategic ally Russia.

State news agency Xinhua quoted top diplomat Wang Yi on Wednesday as saying China was willing to "strengthen strategic coordination" with Russia after meeting President Vladimir Putin in Moscow.

On Friday, the first anniversary of the invasion, China published a 12-point paper calling for a "political settlement" to the crisis that was met with scepticism from Ukraine's allies.

G20 host India has also refused to condemn Russia, which is New Delhi's biggest arms supplier and has become a major source of oil for India since the invasion.

Western countries -- including the United States, Germany and France -- had insisted the language in any joint statement could not be weaker than the communique issued by G20 leaders in Indonesia in November.

"This is a war. And this war has a cause, has one cause, and that is Russia and Vladimir Putin. That must be expressed clearly at this G20 finance meeting," German Finance Minister Christian Lindner told a news conference on Friday.

Debt relief

India's summary document said the global economic outlook had "modestly improved", although overall growth remains "slow" and risks persist including elevated inflation, a resurgence of the pandemic and high debts in many poorer nations.

On climate change it stressed the importance of meeting "fully as soon as possible" the commitment made by developed countries to mobilise $100 billion in climate finance annually through 2025 for poorer countries.

The gathering also focused on debt relief for poorer countries hit by rocketing inflation because of the war, amid differences between China and the West on how to provide it.

Western officials want China to take "haircuts" on loans to debt-stricken nations but Beijing says multilateral lenders including the World Bank should also do so.

India's summary said that "strengthening multilateral coordination by official bilateral and private creditors" was needed. Delegates said agreeing this wording was a success.

"In Bali last summer we discussed for three days the wording of a communique and we didn't discuss substance at all there. We did this time," one negotiator said.

International Monetary Fund chief Kristalina Georgieva called it a "very good meeting", praising the Indian presidency for focusing "on the issues that really matter" such as inflation and debt.

Other topics included efforts towards a global tax on tech giants, widening the remit of multilateral development banks such as the World Bank to help nations hit by climate change, and cryptocurrencies.
Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Brazilian Congress Rejects Lula's Proposed Tax Increase on Financial Transactions
Landslide in Bello, Colombia, Results in Multiple Casualties
Papa Johns pizza surge near the Pentagon tipped off social media before Trump's decisive Iran strike
Juncker Criticizes EU Inaction on Trump Tariffs
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Sole Survivor of Air India Crash Recounts Escape
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Protests Erupt in Los Angeles with Symbolic Flag Burning
Trump Administration Issues New Travel Ban Targeting 12 Countries
Man Group Mandates Full-Time Office Return for Quantitative Analysts
JPMorgan Warns Analysts Against Accepting Future-Dated Job Offers
Builder.ai Faces Legal Scrutiny Amid Financial Misreporting Allegations
Japan Grapples with Rice Shortage Amid Soaring Prices
Goldman Sachs Reduces Risk Exposure Amid Market Volatility
HSBC Chairman Mark Tucker to Return to AIA as Non-Executive Chair
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Judge Blocks Trump's Ban on International Students at Harvard
Trump Proposes Travel Ban on 'Uncontrolled' Countries
Panama Port Owner Balances US-China Pressures
Trump Administration Accused of Obstructing Deportation Cases
Trump’s China Strategy Remains a Geopolitical Puzzle
Eurozone Inflation Falls Below ECB Target to 1.9%
Call for a New Chapter in Globalisation Emerges
Blackstone and Rivals Diverge on Private Equity Strategy
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Bangkok Ranked World's Top City for Remote Work in 2025
Denmark Increases Retirement Age to 70, Setting a European Precedent
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Escalating Trade Tensions and Market Reactions
OnlyFans Reportedly in Talks for $8 Billion Sale
JBS Gains Shareholder Approval for U.S. Stock Listing
Booz Allen Hamilton to Cut 2,500 Jobs Amid Federal Spending Reductions
Trump Signs Executive Orders to Accelerate Nuclear Energy Development
Harvard Temporarily Blocks Trump Administration's International Student Ban
Nippon Steel Forms Partnership with U.S. Steel, Headquarters to Remain in Pittsburgh
Trump Expands Tariff Threats to Apple and Samsung Devices
Oracle and OpenAI Plan $40 Billion Nvidia Chip Purchase for AI Data Center
Trump Threatens 50% Tariff on EU Goods, Markets React
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Former FBI Director James Comey Questioned by Secret Service Over Social Media Post
×