Leaders of G20 stated on Wednesday that they approved a joint declaration, in which they acknowledged that the conflict in Ukraine has exacerbated the existing problems of the world economy, but nevertheless expressed varying takes on the Ukraine crisis.
“There were other views and different assessments of the situation and sanctions. Recognizing that the G20 is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy,” the joint communique, adopted on Wednesday, read.
Russian Foreign Minister Sergei Lavrov on Tuesday said that there is “no need to go deep [into the Ukrainian issue] since this is not the business of the G-20.” He also pointed out that the West tried to make the final declaration of the G20 summit politicized and include condemnation of Moscow's actions.
The joint communique refrained from naming any country in particular that showed an alternative stance on Ukraine, but India, along with China, Brazil, Saudi Arabia, Indonesia and some other states, have consistently opposed the Western approach to the crisis. What's more, Delhi has expressed concerns over 'spillovers' of the Western sanctions slapped on Moscow for exacerbating the global food and energy crises.
Furthermore, in the communique, it is said that international law must be upheld, while the threat of the use of nuclear weapons is unacceptable.
The G20 leaders also welcome the Black Sea grain initiative, emphasizing the importance of its full implementation by all parties.
Following the adoption of the communique, Indian Foreign Secretary Vinay Mohan Kwatra commented that Delhi “played a key role in the successful negotiation of the outcome document.”
“Prime Minister Modi’s message that this is not the era of war and that the best way to return to the path of dialogue and diplomacy to resolve the conflict resonated very deeply across all the delegations and helped bridge a gap across different parties and contributed to the successful outcome of the document,” Kwatra told reporters.
Addressing the global economic crisis, the declaration said member countries would continue to undertake “tangible, precise, swift and necessary actions,” including appropriately calibrating the pace of monetary policy tightening.
The Bali outcome document also highlights efforts to ensure the flow of agricultural goods to the global market such as the EU Solidarity Lanes and the Russian donations of fertilizers facilitated by the World Food Program.
At the end of the summit, Indonesian President Joko Widodo symbolically handed over the G20 Presidency to Indian Prime Minister Narendra Modi. Technically, India will assume the presidency on December 1.
“G-20 under India’s presidency will be inclusive, ambitious, decisive and action-oriented. Together, we will make G-20 a catalyst for global change,” Prime Minister Modi stated in his concluding remarks.