Business Standard

Russia, China water down G20 text on geopolitical tensions

A contentious meeting of Group of 20 finance leaders ended with Russia and China watering down communique language on geopolitical risks to the global economy

G20
Premium

(Photo: Reuters)

Reuters Jakarta/Washington
A contentious meeting of Group of 20 finance leaders ended with Russia and China watering down communique language on geopolitical risks to the global economy, deleting a reference to "current" tensions in a final statement as markets fretted over the prospect of war in Ukraine.

The meeting hosted by Indonesia was one of the most fractious since the start of the COVID-19 pandemic in 2020, according to people familiar with the discussions. They also described protracted disagreements over language on debt restructuring for poor countries, carbon pricing and other issues.

As the meeting concluded, U.S. and European stocks fell on worries that

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 19 2022 | 1:15 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com