Russia has returned to a G20 finance ministers and central bank governors’ meeting for the first time in four years after being invited by the United States, a move that triggered strong objections from several European governments over Moscow’s participation while the war in Ukraine continues.
The meeting, hosted in North Carolina, marked the first appearance of Russian Finance Minister Anton Siluanov at a G20 finance gathering since Russia’s isolation from many Western forums following its invasion of Ukraine. European officials warned that Russia’s return should not be interpreted as a normalization of relations with Moscow.
German Finance Minister Lars Klingbeil said there could be no return to normal relations with Russia as long as the war in Ukraine continues. He described Siluanov’s presence at the summit as “deeply concerning” and said he had expected the United States not to treat the Russian minister as an ordinary guest.
European officials also objected to Siluanov appearing in the summit’s official group photograph. According to Reuters, the group photo was ultimately taken without the Russian finance minister after consultations among European delegations.
Despite the diplomatic dispute, Siluanov held talks on the sidelines of the summit with US Treasury Secretary Scott Bessent. Russia’s Finance Ministry said the two officials discussed financial issues and cooperation between Moscow and Washington within the G20 framework.
Klingbeil said European finance ministers, the UK finance minister and the President of the European Central Bank met ahead of the summit to coordinate their response to Russia’s participation. He said European governments are preparing a new package of sanctions against Moscow and hope Washington will continue working closely with its allies.
The summit was also dominated by US efforts to build a common G20 position on China’s trade practices. Bessent urged member states to reassess their economic ties with Beijing, arguing that China’s economy is overly dependent on exports and that its $1.2 trillion trade surplus has created major global imbalances.
The US treasury secretary called on G20 members to encourage China to boost domestic consumption rather than rely on state support for exports. He also said Washington and Beijing would continue negotiations on reducing tariffs on some non-strategic goods ahead of a possible meeting between President Donald Trump and President Xi Jinping.
According to Bessent, both countries are discussing tariff reductions covering roughly $30 billion worth of non-strategic goods on each side, as well as establishing frameworks for cooperation on artificial intelligence.
The North Carolina meeting underscored widening divisions within the G20 over Russia’s participation, global trade with China, and the future direction of international economic cooperation amid ongoing geopolitical conflicts.
