Split in G20 on boycott of Russia

New Delhi, April 22

Union Finance Minister Nirmala Sitharaman along with several counterparts from developing countries did not join a boycott of Russian Foreign Minister Anton Siluanov speech at the G20 Finance Ministers’ meeting on the sidelines of the Fund-IMF spring annual meet in Washington.

The walkout was initiated by US Treasury Secretary Janet Yellen. But unlike G7 or the UNSC where the West has had its way, reports indicate that at least half of the Finance Ministers, including those from Indonesia, China, Brazil, South Africa and Saudi Arabia besides India, did not follow suit.

Indonesia’s Sri Mulyani Indrawati, who was in the chair, remained unmoved by Yellen’s walkout and the expressions of solidarity with her by western Finance Ministers.

Canada’s Finance Minister Chrystia Freeland posted a photo on social media that showed the 10 ministers who had walked out along with a declaration that, “the world’s democracies will not stand idly by in the face of continued Russian aggression and war crimes. Russia’s illegal invasion of Ukraine is a grave threat to global economy. Russia should not be participating or included in these meetings”.

In another post, UK Finance Minister Rishi Sunak said: “Earlier, my representatives, along with US and Canadian counterparts, left today’s G20 meeting in Washington. We are united in our condemnation of Russia’s war against Ukraine and will push for stronger international coordination to punish Russia.”

The G20 includes Western countries that have accused Moscow of war crimes in Ukraine, as well as China, India, Indonesia and South Africa, which have not joined Western-led sanctions against Russia over the conflict.

Sitharaman meets global CEOs in US

New Delhi: Union Finance Minister Nirmala Sitharaman on Thursday evening met CEOs of American firms like FedEx and Mastercard and discussed various opportunities for investment in India, which is the fastest-growing large economy in the world. Sitharaman also held a meeting with Accenture Chair and CEO Julie Sweet. The Finance Minister is in the US to attend the annual IMF-WB Spring Meetings.