Scott Bessent told Russian Finance Minister Anton Siluanov there will be no economic relief for Russia until the war ends.
Why it matters: The exchange reinforces that sanctions relief and broader financial normalization remain tied to the war in Ukraine. It also shows U.S. and European officials using the G20 finance meeting to restate their line on Moscow.
- Bessent met Siluanov on Aug. 31 at the U.S.-hosted G20 finance ministers meeting in Asheville, North Carolina.
- The Treasury secretary said there would be no economic relief for Russia until the war in Ukraine ends.
- Reuters reported European finance ministers objected to Russia's participation, saying there could be no normalization while the war continued.
- Reuters said Siluanov's in-person attendance was his first at a G20 meeting since Russia invaded Ukraine in 2022.
U.S. Treasury Secretary Scott Bessent met Russian Finance Minister Anton Siluanov on the sidelines of the G20 finance ministers meeting and told him there would be no economic relief for Russia until the war in Ukraine ends. Treasury said the U.S.-hosted G20 Finance Track ministerial ran from Aug. 31 to Sept. 1 in Asheville, North Carolina.
Reuters reported that European finance ministers objected to Moscow's participation, with Germany's finance minister Joachim Nagel saying there could be no normalisation of relations with Moscow while its war against Ukraine continued. Reuters also said Siluanov's in-person attendance was his first at a G20 meeting since Russia invaded Ukraine in 2022.
AP reported Bessent said, "we clearly support Ukraine," and added, "There are no surprises when it comes to sanctions." Treasury's agenda release said the Asheville meeting was set to focus on growth, regulation, debt transparency, payments, digital assets and financial literacy.
By the numbers
- Aug. 31-Sept. 1 - Dates of the U.S.-hosted G20 finance ministers meeting in Asheville, North Carolina.
- 2022 - The year Russia invaded Ukraine, after which Reuters said Siluanov had not attended a G20 meeting in person until now.