The Russian Finance Minister, Anton Siluanov, has attended in person the meeting of finance ministers and central bank governors of the G20 held in the United States, marking his first physical appearance in this forum since the beginning of the Russian invasion of Ukraine in February 2022. In the context of this meeting, he also held a meeting with the U.S. Treasury Secretary, Scott Bessent.
So far, the last time Siluanov participated in a G20 meeting was in April 2022, and he did so via videoconference, shortly after the military offensive in Ukraine began. Since then, he had avoided attending major international meetings in person.
During the summit, which is taking place in the city of Asheville, in the state of North Carolina, under the rotating presidency of the United States of the G20, Bessent and Siluanov also held a bilateral meeting on the sidelines of the official sessions. "Russian-American cooperation in the financial sphere and cooperation within the G20 was addressed," the Russian Ministry of Finance stated in a press release distributed along with a photograph of both officials.
At the same time, sources from the U.S. Department of the Treasury have indicated to CNBC that Bessent and Siluanov discussed in their conversation the peace plan for Ukraine proposed by U.S. President Donald Trump.
After the meeting, Trump justified Siluanov's presence at the G20 meeting by stating that "we like to get along with everyone." "One of the reasons I am so successful is that I get along with everyone."
The participation of the Russian Finance Minister has caused discomfort among some attendees, such as the German Finance Minister, Lars Klingbeil, who has stated that "there is no normal situation with Russia at this moment" due to the "brutal war," according to the German newspaper 'Die Welt.'
Klingbeil has also questioned the lack of transparency from the United States, the host country, regarding the invitation extended to the Russian official. Nevertheless, the German official maintained a direct exchange with Siluanov during the meeting and urged him to contribute to ending the war in Ukraine.
In his intervention before the rest of the delegations, Siluanov has taken the opportunity to highlight what he considers "two main challenges" for the global economy: "geopolitical fragmentation that limits the free movement of goods, capital, and technology and the growth of global debt."
In relation to debt, he has warned that developed economies are forced to allocate 80 percent of new loans to refinance previous obligations, while the cost of financing has tripled in the last five years.