November 26, 2022

NasdaqNewsUpdates

Complete News World

Debate over the Ukraine war dominates the summit of the Group of 20 major economies

Debate over the Ukraine war dominates the summit of the Group of 20 major economies

  • Draft Declaration: “Most” G20 Members Condemn Ukraine’s War
  • Ukrainian Zelensky pushes his plan to end the conflict
  • Indonesia calls for an end to political polarization
  • Inflation, debt and monetary policy are also on the agenda
  • US President Biden skips a dinner party in Bali

NUSA DUA, Indonesia, Nov 15 (Reuters) – A Western-led campaign to condemn Russia’s invasion of Ukraine dominated Tuesday’s G20 summit in Indonesia’s Bali island, where leaders of major economies grappled with a bewildering array of issues, from hunger for nuclear threats.

President Vladimir Putin’s invasion of neighboring Ukraine on February 24 devastated the global economy and revived Cold War-era geopolitical divisions just as the world was emerging from the worst of the COVID-19 pandemic.

As in other recent international forums, the US and its allies have been seeking a statement from the two-day G-20 summit against Moscow’s military actions.

But Russia, whose forces bombed cities and energy facilities across Ukraine even during the G20 meeting, said the “politicization” of the summit was unfair.

“Yes, there is a war going on in Ukraine, a mixed war that the West launched and has been preparing for for years,” Foreign Minister Sergei Lavrov said, repeating Putin’s position that the expansion of the NATO military alliance threatened Russia.

A 16-page draft declaration, seen by Reuters and not yet endorsed by diplomats, acknowledged the disagreement.

“Most members strongly condemn the war in Ukraine and stress that it is causing enormous human suffering and exacerbating existing fragility in the global economy,” she added.

“There were different views and assessments of the situation and the sanctions,” he added.

See also  Imran Khan, the former Pakistani leader, charged under the Terrorism Act

The twenty countries account for more than 80% of the world’s GDP, 75% of international trade and 60% of its population.

‘save the world’

The hosts called on Indonesia to unite and focus on problems such as inflation, hunger and high energy prices, all of which have been exacerbated by the war.

“We have no other choice, and cooperation is needed to save the world,” said Indonesian President Joko Widodo.

“The G-20 must be the catalyst for an overall economic recovery. We must not divide the world into parts. We must not allow the world to fall into another Cold War.”

The summit draft document also said that G20 central banks will adjust monetary tightening with a focus on the global problem of inflation, while fiscal stimulus should be “temporary and targeted” to help the vulnerable while not raising prices.

On debt, she expressed concern about the “worsening” situation of some middle-income countries and stressed the importance of fair burden sharing by all creditors.

Ukrainian President Volodymyr Zelensky told the summit in a virtual speech that it was time to implement his proposed 10-point peace plan. Kyiv demands a complete Russian withdrawal from the occupied territories.

Zelensky called for the restoration of “radiation safety” at Russia’s Zaporizhia nuclear power plant, price restrictions on Russia’s energy resources, and an expanded grain export initiative.

A US official said Washington wanted a clear message from the G-20 against the Russian invasion and its impact on the global economy, while German Chancellor Olaf Scholz said there were encouraging signs of a consensus that war is unacceptable.

See also  Zelensky: Russian forces are in a dead end

Lavrov said he listened to Zelensky’s speech. He accused him of prolonging the conflict and ignoring Western advice.

Russia said Putin was too busy to attend the summit.

Fourth, between the United States and China?

There was, however, an encouraging sign on the eve of the summit, when US President Joe Biden and Chinese leader Xi Jinping, whose countries have increasingly drifted apart, met and pledged more frequent contacts.

Both men declared their opposition to the use of nuclear weapons, according to readings from both sides.

Russia said it reserves the right to use any means, including nuclear capability, to defend its security.

China and Russia are close, but Beijing has been careful not to provide any direct material support for the Ukraine war that could lead to Western sanctions against it.

Chinese state media reported that Xi told French President Emmanuel Macron during another bilateral meeting that Beijing had called for a ceasefire in Ukraine and peace talks.

Civil society groups have criticized the G20 draft declaration for failing to take action on hunger, not boosting efforts to finance development, and ignoring an earlier commitment to provide $100 billion in climate finance by 2023.

“The G20 is merely repeating old commitments from previous years or noting developments elsewhere, rather than taking the lead themselves,” said Frederic Rueder of Global Citizen. “Fifty million people are on the brink of starvation as we speak. There is no time for the G-20 to issue calls to action – they are the ones who have to act.”

See also  Ukraine and Russia: What you need to know now

The leaders mingled at a gala dinner on Tuesday night, many wearing traditional Indonesian batik shirts. Host Widodo quipped that he hoped the food wasn’t too spicy for foreigners.

But Biden missed the meal. “It’s been a long day and he has other things to take care of,” a White House official said.

Cambodian Prime Minister Hun Sen has expressed concern for the health of other world leaders – including Biden – after a positive COVID-19 test forced him to go home early.

(Reporting by Francesca Nangui, Stanley Widianto, Nandita Bose, Lika Kihara, David Lauder and Simon Lewis in Nusa Dua, Andrea Shalal in Washington, Andreas Rinke in Berlin, Lydia Kelly in Melbourne and Eduardo Baptista in Beijing; Writing by Raju Gopalakrishnan and Andrew Cawthorne; Editing by Tom Hogg and John Boyle

Our standards: Thomson Reuters Trust Principles.