Russia, China tone down G20 text on geopolitical tensions

  • Ukraine crisis overshadows G20 meeting ending Friday
  • Inflation elevated in many countries – draft communique
  • Draft communique makes no direct mention of Ukraine

JAKARTA/TOKYO, Feb 18 (Reuters) – Russia and China watered down a communique being drafted by heads of the Group of 20 major economies on Friday to remove a reference to “current” geopolitical tensions clouding the global economic outlook, sources at the talks said.

The meeting of G20 finance ministers and central bankers is taking place in the Indonesian capital Jakarta and virtually, with a final communique due to be issued at the end of Friday’s talks.

An early draft of the text seen by Reuters already contained no direct reference to the crisis on the Ukraine-Russia border, saying only that the G20 would monitor risks, “including those arising from (current) geopolitical tensions.”

Register now for FREE unlimited access to

Communique-drafters use brackets for language that has not been agreed by all at the table. Sources told Reuters that both Russia and China asked for the word “current” to be removed.

The latest draft reads: “We will also continue to monitor major global risks, including from geopolitical tensions that are arising, and macroeconomic and financial vulnerabilities.”

That vaguer language contrasts sharply with a warning by finance ministers of the G7 group of large western economies on Monday that Russia would face “massive” economic consequences if it chose to invade Ukraine….

Read more…