G20 finance chiefs ended their two-day meeting with a joint statement that every participant except China supported in full, while the United States argued that Russia’s presence had not disrupted the discussions.
US Treasury Secretary Scott Bessent said the near-unanimous backing for the chair’s statement showed that “there has been no impact” from the attendance of Russian Finance Minister Anton Siluanov.
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European allies of Ukraine had voiced unease after Siluanov was received at the US-hosted talks in Asheville, North Carolina.
The war in the Middle East and US President Donald Trump’s tariffs were also major issues hanging over the meeting.
Iran has largely blocked the key waterway since the war began in late February, following US-Israeli strikes against Iran.
Ukraine’s European allies had expressed frustration after Russian Finance Minister Anton Siluanov was welcomed at the meetings
European officials’ objections were underscored on Monday when Siluanov was left out of the G20’s traditional “family photo”.
At a separate G20 innovation meeting in Chapel Hill, North Carolina, organisers took two group photographs, enabling European officials to stand apart from Russia’s delegation.
An EU spokesperson said representatives had received only limited advance notice that Siluanov would attend.
“It created discomfort, no doubt about that,” Canadian Finance Minister Francois-Philippe Champagne said when asked whether Siluanov’s appearance had affected the talks.
EU economy chief Valdis Dombrovskis said the gathering was not the moment to “normalise” Russia’s participation in forums of this kind.
He argued that including Russia meant addressing sensitive economic issues with officials from a government that is “waging an aggressive war” and “killing civilians on a daily basis” in Ukraine.
Attendees take a photo during the G20 Innovation Ministerial in Chapel Hill, North Carolina
Mr Bessent offered a different view at a news conference. “I know that some Europeans had a sour taste, but I think it’s very important to engage,” he said.
“And I will point out that the finance minister who I met with is unsanctioned,” he added, referring to Mr Siluanov.
The dispute came a day after Germany accused Russia of attempting a “hybrid attack” involving a drone at a strategically important German airport last month, and announced diplomatic steps in response.
The United States currently holds the rotating G20 presidency and was using the week’s meetings to seek backing from partners for sanctions on Iran and efforts to reduce trade imbalances.
When asked whether he had also urged Russia to scale back its support for Iran, Mr Bessent said earlier that “many conversations are best done privately”.
‘Persistent imbalances’
China also objected to language in the declaration warning that “excessive and persistent imbalances pose risks and can generate economic distortions”.
The statement urged governments to “take steps to eliminate non-market policies”.
The wording reflected concerns over excess industrial capacity in the world’s second-largest economy, which critics say fuels unfair competition and pushes prices downward.
“We need to discuss and look at collective action, because global imbalances as they are today are not sustainable,” Mr Champagne said. “Everyone has to be at that table.”
US Treasury Secretary Scott Bessent holds a press conference at the conclusion summit
The G20 consists of 19 countries, the EU and the African Union. It was created after the 1997-1998 Asian financial crisis to strengthen global economic and financial stability.
The finance ministers’ discussions in Asheville also laid the groundwork for a G20 leaders’ summit that Mr Trump is due to host in Miami in December.
Support for Ukraine was another issue raised during a separate meeting of the smaller Group of Seven advanced economies, held on the sidelines.
Russia has stepped up its attacks on Ukraine this summer, while US-brokered negotiations remain stalled and the Kremlin continues to press maximalist demands for ending the war.
German Finance Minister Lars Klingbeil said there had been an “increase in brutal rocket attacks on the civilian population”.
“This all has to come to an end,” he said.
Mr Klingbeil said he and other European finance ministers had “made our position on Ukraine absolutely clear”.
As G7 leaders gathered late on Monday, he added, Ukraine’s finance minister joined the discussion remotely to address continued support for the country.
