The United States will boycott several G20 financial conferences on Wednesday if Russia attends, promising new sanctions on those who seek to thwart Western measures.
The United States boycotted certain G20 financial conferences on Wednesday if Russia participated, especially against countries, companies and individuals trying to avoid these measures taken by Western allies in response to the war in Ukraine. Promises new economic sanctions.
US Treasury Secretary Janet Yellen, who represents the United States in G20 finance this week, will boycott several sessions, Treasury Secretary told reporters Monday.
However, she plans to attend the opening ceremony of the G20 Finance dedicated to the global economy, with some of the finance ministers and central bankers from these countries, including Russia, scheduled to meet on Wednesday.
Some countries may follow
However, France’s Ministry of Economy and Finance said on Friday that some G7 countries could leave the G20 meeting when Russia speaks.
According to US Treasury officials, Russia’s Treasury Minister is undoubtedly in effect attending at least some sessions.
But the United States does not want the presence of Russian officials to prevent them from continuing their work with their allies, the official said, and the G20 cannot be like any other meeting in Russia. Emphasized.
Several states, especially France, have requested an invitation to the G20, especially the Minister of Finance of Ukraine, and the French ministry is still underlined on Friday. Joe Biden, who felt that Ukraine should be able to attend the meeting, is in favor of excluding Russia from the G20.
The United States and its allies “will continue to work together to increase economic pressure on Russia,” the Treasury also warned in a statement.
“Dismantling of Russian war machines”
“G7 leaders have revealed that they will take decisive action to prevent countries, businesses and individuals from evading Russian sanctions,” said Deputy Secretary of Finance Wally Adeyemo.
“The economic benefits of doing business with a coalition that accounts for more than half of the world economy far outweigh the value of doing business, so these parties expect to choose to comply with sanctions. “Business with Russia’s declining economy,” he added. , In a virtual chat hosted by the Peterson Institute for International Economics (PIIE).
“As long as Russia’s invasion continues, our sanctions will continue,” he further guarantees, “the next step in our work is to destroy Russian war machines by destroying the military-industrial complex.” It will be dismantled little by little. Its supply chain. “
Janet Yellen will meet with Ukrainian Prime Minister Denys Shmyhal, but the date of the meeting has not been specified. Joe Biden’s Minister of Economy and Finance will also hold a press conference Thursday at 11:00 am.
Wednesday 3:30 pm press conference
G20 Finance will be held on Wednesday as part of the week of the IMF and World Bank Spring Meeting. The press conference is virtually only, and a delegation of a small country is scheduled in Washington.
The G20 press conference will take place on Wednesday at 3:30 pm.
Western countries want to exclude Russia from the G20. However, Indonesia, which chairs the group this year and emerges as a non-aligned middle power, wants to be “fair.”