G20 Finance Ministers meeting ends without consensus amid geopolitical tensions

New Delhi, Mar 1: The conclusion of the first G20 finance ministers' meeting of the year came without a joint statement, reflecting deep-seated divisions primarily centred around the conflicts in Ukraine and Gaza, according to officials familiar with the discussions.

Brazil's Finance Minister, Fernando Haddad, acknowledged the inability to reach a final statement during a press conference on Thursday, citing persistent disagreements over ongoing conflicts without explicitly naming specific regions or nations involved. This follows a similar outcome from a previous meeting of foreign ministers in Rio de Janeiro, which also failed to produce a joint statement.

News agencies said that while Haddad emphasized unity among G20 members on financial matters, he highlighted how the lack of consensus from the previous meeting had a ripple effect, complicating efforts to focus solely on economic policy during the recent gathering in Sao Paulo. Brazil, as the host country and with an agenda aiming to elevate the concerns of the global south regarding inequality and climate change, found its ambitions overshadowed by the impasse.

According to news agencies, one of the key sticking points revolved around addressing Russia's actions in Ukraine, with Germany's Finance Minister, Christian Lindner, indicating a firm stance from his country in insisting on the inclusion of this issue in any final statement.

The G20's response to Russia's two-year-old conflict in Ukraine has divided member nations, with Western countries condemning the aggression and providing support to Ukraine, while Russia has sought backing from emerging powers like Brazil, China, and India.

Additionally, divisions emerged regarding the situation in Gaza, with Western allies hesitant to condemn Israel while other members expressed growing concern over the humanitarian crisis. Lindner stressed the need to confront these pressing issues despite the forum's focus on financial matters, emphasizing the responsibility of finance ministers to uphold their countries' values and defend the international rules-based order.