Secretary Yellen Walks Out of G20 Meeting

Others join her as Russian delegate speaks. 

The top officials from the U.S., Canada, and Britain walked out of Wednesday’s G20 meeting as Russian representatives spoke. Their move exposed the deepening divisions over Russia’s continued presence in the G20 body. Ukrainian officials in attendance also walked out of the meeting of the finance officials from the world’s 20 largest economies. 

Treasury Secretary Janet Yellen told attendees she strongly disapproved of a senior Russian official’s presence at the meeting. She told participants there could be “no business as usual” for Russia in the global economy, echoing her message to the Indonesian Finance Minister whose government is heading the G20 group this year. 

Secretary Yellen plans to boycott two G20 sessions on the international financial architecture and sustainable finance, although Treasury officials said she would join in a discussion of the Ukraine war’s impact on the global economy. 

She and others have warned against fragmentation of the global economy into geopolitical blocs, with the United States and market-driven democracies on one side and China, Russia, and other state-driven economies on another. 

Separately, the U.S. announced new sanctions on a Russian commercial bank oligarch and dozens of individuals, according to a Treasury Department website. 

As the Lord Leads, Pray with Us…

  • For discernment for the president and his administration as responses to Russia’s invasion of Ukraine continue.
  • For wisdom for Secretary Yellen as she represents the U.S. at the G20 financial meetings.

Sources: Newsmax, Reuters


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