The meeting of G20 finance ministers and central bank governors is set to begin in Washington on Wednesday. Russian Finance Minister Anton Siluanov is expected to attend it online.
But participants are expected to be divided over Russia at the first ministerial-level meeting of the Group of 20 economies since the start of the Russian invasion of Ukraine.
The meeting will focus on concerns about a slowdown in the global economy. The G7 countries, including the United States and Japan, are likely to argue that Russia’s invasion poses a major risk, leading to a rise in global energy and food prices.
On the other hand, Russia will likely insist that sanctions imposed by the Western and other countries are disrupting the global economy. China and some others may take Russia’s side.
The participants could fail to issue a joint statement.
The G20 includes the G7 members, the BRICS countries, namely Brazil, Russia, India, China, and South Africa, as well as Indonesia, which holds the G20 presidency, and also Saudi Arabia.
Meanwhile, on the sidelines of the G20 meeting, Japan’s Finance Minister Suzuki Shunichi will meet with US Treasury Secretary Janet Yellen.
They are expected to confirm their cooperation in dealing with Russia, which continues its invasion of Ukraine.
They will also likely exchange views on the rapid depreciation of the Japanese currency.
Suzuki said on Tuesday that considering the current economic situation, the weaker yen will mainly bring about disadvantages. He added that the government will properly deal with the issue while closely communicating with monetary authorities in the US and other countries.