G20 considers resolution warning against impacts of Ukraine war on global economy

Leaders from the Group of 20 (G20) nations have met for a two-day summit on the Indonesian island of Bali that is considering a draft resolution warning against impacts of Ukraine war on global economy.

The 16-page draft declaration stress the war was exacerbating fragilities in the global economy, Reuters quoted diplomats as saying on Tuesday.

“There were other views and different assessments of the situation and sanctions,” said the document, a copy of which was seen by Reuters.

“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,” it said.

According to the report, the resolution has yet to be adopted by the G20, whose members include the United States, Russia, Brazil, India, Saudi Arabia and Germany, and could be alerted.

It is the first time the G20 leaders gather since Russia’s military operation in Ukraine late in February.

G20 ministers’ gatherings have previously failed to issue joint declarations because of disagreement between Russia and other members on language, including on how to describe the war in Ukraine, which Western countries see as a Russian invasion.

Earlier on Tuesday, the summit opened with a plea by Indonesian President Joko Widodo for unity and concrete action to mend the global economy despite deep rifts over the war, saying, “We have no other option, collaboration is needed to save the world.”

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