Host India doesn't want G20 to discuss Russia sanctions: Reports
India, which is hosting the G20 this year, reportedly does not want the forum's member nations to discuss additional sanctions by Western countries on Russia for its invasion of Ukraine. Notably, the Russia-Ukraine conflict completes one year on Friday. On Wednesday, meetings were conducted to draft the G20 communique and officials reportedly struggled to arrive at an agreeable term to describe the Russia-Ukraine crisis.
Why does this story matter?
- India has refrained from openly criticizing Russia for the invasion, despite repeated calls from Ukraine and the West, instead calling for diplomatic solutions.
- It also increased its purchase of oil from Russia, prompted by highly subsidized rates, for which a Ukrainian lawmaker called on the United States to impose secondary sanctions on India.
- Notably, Russia is also India's biggest supplier of defense hardware.
Sanctions not G20 issue, it focuses on growth: India
On the sidelines of an important G20 gathering in India, finance ministers and central bank chiefs from G7 nations will meet on Thursday to discuss measures against Russia. Senior officials said that India wanted to avoid discussing additional sanctions on Russia as it is not an issue concerning G2O, which focuses on growth and development. They said the war has negatively affected the world.
US considering fresh sanctions restricting Russia's purchase of dual-use goods
US Deputy Treasury Secretary Wally Adeyemo said on Tuesday that Washington and its allies were considering fresh sanctions on Russia to restrict the country's purchase of dual-use goods such as refrigerators and microwaves to pluck out semiconductors for the military. The sanctions will also target the trans-shipment of oil and other prohibited goods through countries bordering Russia.
India-Russia ties steady: Jaishankar
Adeyemo stated that a coalition of over 30 countries would issue warnings to financial institutions, and individuals who continue to do business with Russia. Indian's External Affairs Minister S Jaishankar earlier said that the war has disproportionately impacted economically backward countries by inducing a hike in food and fuel prices. He also said that India's relationship with Russia has remained steady amid global turmoil.
