G20 finance chiefs back final statement, China dissents amid Russia tensions
G20 financial leaders meeting in Asheville, North Carolina, adopted a final statement supported by all except China. Russia's finance minister attended, drawing frustration from European allies.
G20 finance leaders wrapped up their two-day meeting in Asheville, North Carolina, on Tuesday with a chair's statement that nearly all participants endorsed. China was the only member to withhold full support. US Treasury Secretary Scott Bessent said the broad agreement showed that Russia's presence at the talks had had no impact.
European allies of Ukraine had voiced frustration over the welcome extended to Russian Finance Minister Anton Siluanov at the US-hosted gathering. The traditional group photo on Monday did not include Siluanov, following objections from European officials. An EU spokesperson said delegates had been informed of his attendance at short notice. Canadian Finance Minister Francois-Philippe Champagne acknowledged the situation had caused discomfort. EU economy commissioner Valdis Dombrovskis said it was not the time to "normalize" Russia's presence, as Moscow was waging an aggressive war and killing civilians daily.
Bessent countered that engagement was important, noting that the Russian minister he met was not under sanctions.
The final statement called for free, safe and predictable navigation through the Strait of Hormuz, but China dissented. Since the war began in late February, Tehran has largely blocked that key waterway. China also objected to language warning that excessive and persistent imbalances pose risks and can generate economic distortions, a reference to concerns about excess industrial capacity.
Germany on Tuesday accused Russia of an attempted hybrid attack involving a drone at a strategic German airport last month and announced diplomatic countermeasures, according to German Finance Minister Lars Klingbeil. Talks also touched on support for Ukraine; the G7 discussed the issue on the sidelines, with Ukraine's finance minister joining remotely. Moscow has stepped up strikes on Kyiv, and US-brokered peace efforts remain frozen.
The G20, comprising 19 countries, the EU and the African Union, was created after the 1997–1998 Asian financial crisis. A leaders' summit is scheduled for December in Miami.
