- U.S. Treasury Secretary Scott Bessent told Russian Finance Minister Anton Siluanov that no sanctions relief or new agreements with Moscow were possible, as long as the war in Ukraine continues.
- The two officials met on the sidelines of a Group of 20 finance leaders' gathering in Asheville, North Carolina.
- Siluanov's first in-person appearance at the summit since Russia's invasion of Ukraine in 2022 was marked by European criticism of his presence.
- European governments have planned to expand sanctions to further squeeze Moscow's economy and finances.
- The rare meeting underscored Washington's willingness to reopen high-level diplomatic channels with Moscow, even as European allies have intended to keep the nation isolated while the war continues.
- Bessent made it clear to Siluanov that nothing is possible until the war is over, when the Russian minister brought up other areas of mutual interest.
- European officials, including Germany's finance minister, criticized the decision and said they would not join Siluanov for a group photograph.
- Russia's surprise return to the table sparked dismay among European officials, who in the traditional G20 photo, which was ultimately taken without the Russian minister.
- German Finance Minister Lars Klingbeil expressed that he found the decision troubling and stated he would not join Siluanov for a group photograph.
U.S. Treasury Secretary Scott Bessent firmly stated that no economic relief for Russia would occur until the Ukraine war concludes, during a meeting with Russian Finance Minister Anton Siluanov at the G20 finance leaders' summit in Asheville, North Carolina. This marked Siluanov's first in-person appearance at a G20 meeting since Russia's invasion of Ukraine in 2022.13
Bessent emphasized, "nothing is possible until the war is over," as Siluanov sought discussions on mutual interests. The meeting highlighted a rare diplomatic engagement from Washington, contrasting with European nations' intent to maintain isolation of Russia amid ongoing hostilities.6
European officials expressed discontent over Siluanov's unexpected presence, with German Finance Minister Lars Klingbeil stating, "Receiving the Russian finance minister here sends a signal I find troubling," and he refused to participate in a group photograph with him. The European Union has been working on expanding sanctions against Russia, aiming to further constrict its economy and finances.79
The G20 meeting also included discussions on global trade stability, with Canadian Finance Minister Francois-Philippe Champagne affirming Ottawa's readiness to engage constructively. Meanwhile, the UK intensified its sanctions against Russia, doubling penalties for breaches, as the international community continues to grapple with the implications of the ongoing conflict.
“The meeting marked Siluanov's first in-person G20 appearance since Russia's 2022 invasion, and European officials, including Germany's Klingbeil, said they would avoid group photos with him. The UK also doubled penalties for sanctions breaches to 100% of the value, targeting Russia's shadow financial systems.”
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