G20: Major economies strongly condemn Russia-Ukraine war, says draft declaration

Nusa Dua (Indonesia): The leaders of the Group of 20, or G20, major economies Tuesday strongly condemned the war in Ukraine and emphasised that it was exacerbating fragilities in the global economy.

The draft of a declaration by leaders of the Group of 20 (G20) major economies, seen by Reuters.

The draft of the declaration by G20 major economies was seen by news agency Reuters. “There were other views and different assessments of the situation and sanctions,” said the draft declaration, adding that it was confirmed by a European diplomat.

The 16-page document has yet to be adopted by G20 members.

The members said that the focus of the summit which is being hosted by Indonesia was on the global economy but it has been overshadowed by Russia’s invasion of Ukraine that started in February this year.

What does G20 draft declaration says?

The draft declaration says, “Recognising that the G20 is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy.”

The draft document also stated that the G20’s central banks were monitoring inflationary pressures and calibrating monetary policy accordingly.

Ahead of the meeting, which was expected to be dominated by Russia-Ukraine war, Russia’s foreign ministry on Sunday said that the G20 was not the place where security issues and should instead prioritise the world’s economic challenges.

Earlier today, Ukrainian President Volodymyr Zelenskyy, during the summit, urged counterparts to step up their leadership and stop Russia’s war in his country under a peace plan he has proposed.

Russia, which was represented at the summit by Foreign Minister Sergei Lavrov, says it is conducting a special military operation in Ukraine.

With inputs from Reuters

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