India does not want G20 to discuss Russia sanctions: sources
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HOST of the Group of 20 (G20) nations India does not want the bloc to discuss additional sanctions on Russia for its invasion of Ukraine, six senior Indian government officials told Reuters.
Financial leaders of the Group of Seven (G7) nations will meet on the sidelines of a key G20 gathering on Thursday (Feb 23), the eve of the first anniversary of the invasion. Japan’s finance minister said on Tuesday that they would be discussing measures against Russia.
The sources, who were directly involved in this week’s G20 meeting of finance ministers and central bank chiefs, said the war’s macroeconomic impact would be discussed. They noted, however, that India was not keen to deliberate additional actions against Russia.
One source said: “India is not keen to discuss or back any additional sanctions on Russia during the G20. The existing sanctions on Russia have had a negative impact on the world.”
Another source said that sanctions were not a G20 issue: “G20 is an economic forum for discussing growth issues.”
Spokespeople for the Indian government and the finance and foreign ministries did not immediately respond to requests for comment.
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Indian Foreign Minister S Jaishankar previously said that the war disproportionately affected poorer countries by raising the prices of fuel and food. India’s neighbours – Sri Lanka, Pakistan and Bangladesh – have all sought loans from the International Monetary Fund in recent months to tide over economic troubles brought about by the pandemic and the war.
The minister told ANI earlier this week that India’s relationship with Russia had been “extraordinarily steady, and it has been steady through all the turbulence in global politics”.
US Deputy Treasury Secretary Wally Adeyemo said on Tuesday that Washington and its allies planned in the coming days to impose new sanctions and export controls. These would target Russia’s purchase of dual-use goods, such as refrigerators and microwaves, to secure the semiconductors needed for its military. The sanctions would also seek to do more to stem the trans-shipment of oil and other restricted goods through bordering countries.
Adeyemo also said that officials from a coalition of more than 30 countries would warn companies, financial institutions and individuals still doing business with Russia that they faced sanctions if they continued doing so.
Indian Prime Minister Narendra Modi’s government has not openly criticised Moscow for the invasion, instead calling for dialogue and diplomacy to end the war. India has also sharply raised purchases of oil from Russia, its biggest supplier of defence hardware. REUTERS
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