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Bessent meets Siluanov
U.S. Treasury Secretary Scott Bessent met with Russian Finance Minister Anton Siluanov on the sidelines of the G20 in Asheville, North Carolina, with Siluanov attending in person for the first time since Russia’s invasion of Ukraine in 2022.
“Bessent and Siluanov discussed Trump's Ukraine peace plan and economic growth”
Axios reported that Bessent and Siluanov discussed “Trump’s Ukraine peace plan and economic growth,” while a U.S. source cited by Axios said Bessent ruled out economic relief for Moscow as long as the war in Ukraine continues.
Reuters said the two-day meeting in Asheville began with Bessent opening the session as some ministers were surprised and dismayed to see Siluanov sitting at the G20 table, the first time they had attended the forum in person since Russia invaded Ukraine in 2022.
Reuters also reported that Siluanov held a bilateral meeting with Bessent covering financial cooperation within the G20 framework, and that a U.S. official said the focus of that meeting was on President Donald Trump’s peace plan for Ukraine.
Europe protests the photo
European finance leaders reacted sharply to Siluanov’s presence, and Reuters reported that German Finance Minister Lars Klingbeil said Europe was preparing a further package of sanctions against Russia while Siluanov’s appearance sent a “quite troubling” signal for U.S. cooperation with the effort.
Klingbeil told reporters, “I would have wanted greater clarity from the American side that he should not be received here as a normal guest,” and Reuters said European officials opposed appearing in the traditional “family photo” of G20 finance ministers and central bank governors.
France 24 reported that Klingbeil said, “Receiving the Russian finance minister here sends a signal I find troubling,” and said he would have preferred a clear position from Washington that Siluanov not be received like a regular guest.
Reuters added that European officials said the traditional “family photo” was ultimately taken without Siluanov, contrasting with April 2022 when even his virtual participation drew condemnation and prompted a walkout by officials from the U.S., Britain, Canada and the European Central Bank.
Sanctions, access, and stakes
Reuters said the U.S. move to welcome Russia back to the G20 while denying some journalists access dismayed some finance leaders present and deflected from its bid to focus talks on global economic growth.
“We do not trust Russia. They lie constantly and you need to be really, really cautious”
Reuters reported that Polish Finance Minister Andrzej Domanski told Reuters, “We do not trust Russia. They lie constantly and you need to be really, really cautious while discussing with them,” and said he found it “very difficult to have any kind of conversation with Russia.”
Reuters also reported that the U.S. Treasury denied some journalists media credentials, including teams from Bloomberg News and specific reporters from the New York Times and the Wall Street Journal, and that Klingbeil said, “I consider it unacceptable for journalists or entire editorial teams to be excluded.”
In the same Reuters account, Bessent told reporters that “The world is awash in debt post-GFC, post-COVID,” and said “the only way for us to get out of this is to grow our way out of this,” as global debt levels earlier this year hit a record of nearly $353 trillion.