The US and its allies would consult whether Russia should remain within the G-20 grouping of major economies after its invasion of Ukraine, US National Security Advisor Jake Sullivan has said, underlining that it "cannot be business as usual" for Moscow.
We believe that it cannot be business as usual for Russia in international institutions and in the international community, US National Security Advisor Jake Sullivan told reporters at a White House news conference when asked about Russia's membership of G-20.
But as for particular institutions and particular decisions, we'd like to consult with our Allies, consult with our partners in those institutions before making any further pronouncements, Sullivan said.
G20 is the premier forum for international economic cooperation that plays an important role in global economic governance.
Sullivan said that when the President announced that the United States was going to ban the import of Russian oil and gas, he was very clear.
He said that the United States is uniquely positioned: We are an energy producer. We can do this. We can take this step of banning the import of Russian oil and gas and coal and be able to withstand it, have resilience against it, he said.
But he also recognised quite explicitly in that statement that some of our European Allies and partners would not be able to follow suit, and he was not going to pressure them to do so, he added.
From his perspective, what we have achieved with our European partners -- in terms of financial sanctions, export controls, and other measures to hit the Russian economy have had an unprecedented impact on a large economy at a scale we have never seen before, he said.
So, he believes that that is in fact increasing the costs on Russia; it is sharpening the choice for Russia. And he feels very good about where things stand today in terms of the unity and resolve of the Western alliance on sanctions, Sullivan said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU