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Russian finance minister to lead delegation at G20 meeting
G20 host Indonesia said last week Siluanov had confirmed he planned to attend the G20 meeting on April 20 virtually, Reuters reported.
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Italy's Prime Minister, Mario Draghi (left) greets Russian Finance Minister, Anton Siluanov as he arrives for the G20 of World Leaders Summit on October 30, 2021. (AFP/Alberto Pizzoli)
Finance Minister Anton Siluanov will lead Russia's delegation at this week's meeting of finance ministers and central bank governors from the Group of 20 major economies, the Russian finance ministry said on Tuesday.
G20 host Indonesia said last week Siluanov had confirmed he planned to attend the G20 meeting on April 20 virtually, Reuters reported.
US Treasury Secretary Janet Yellen had said Russia should be expelled from the G20, and warned that the United States would boycott some G20 meetings if Russian officials show up.
This week Yellen this week will call on her counterparts in major economies to ramp up the economic pain on Moscow over its invasion of Ukraine, a senior official said Monday.
The fallout from the war and the impact on the global economy will be key topics of discussion during the spring meetings of the IMF and World Bank, which began Monday.
Finance officials from the G7 and G20 nations also will meet this week.
"The secretary believes the Russian invasion of Ukraine has demonstrated the need for the world's largest economies to stand together to defend international order and protect peace and prosperity," the Treasury official told reporters, quoted by AFP.
"She will use this week's meetings to work with allies to continue our united efforts to increase economic pressure on Russia while mitigating spillover effects."
The IMF and World Bank have warned of the devastating costs the war is imposing on the global economy, especially through rising prices for energy and food at a time of high inflation.
Western sanctions on Moscow have contributed to the price pressures, which are hitting the poorest countries the hardest.
While Yellen is "deeply concerned" about the impacts, "We are firm in our resolve to hold Russia and its leadership accountable, and have imposed crippling sanctions," the official said.
In a speech at the Peterson Institute for International Economics, Deputy Treasury Secretary Wally Adeyemo vowed to "take apart Russia's war machine, piece by piece, by disrupting their military industrial complex and its supply chains."
"We are continuing our efforts to use sanctions and export controls to deny Russia the critical inputs it needs, targeting key sectors like aerospace, electronics and others related to the defense sector," he said, noting their invasion has taken longer than Moscow expected.
The Treasury official noted Washington also will continue to work to penalize countries that try to evade the sanctions and restrict Russian leader Vladimir Putin's ability to project power, though they did not provide any specifics on the type of sanctions or the targets being considered.
