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G20 finance leaders ended a two-day meeting with a chair’s statement that nearly all participants supported in full, while China rejected its language on navigation through the Strait of Hormuz. U.S. Treasury Secretary Scott Bessent said Russia’s attendance had not affected the talks.

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There has been no impact

European allies of Ukraine objected to the presence of Russian Finance Minister Anton Siluanov at the U.S.-hosted meeting in Asheville, North Carolina. His attendance prompted protests and led to a G20 group photograph being taken without him. At a separate innovation meeting in Chapel Hill, organizers took two group photographs so European leaders could stand apart from Russia’s delegation.

Canadian Finance Minister Francois-Philippe Champagne said Siluanov’s appearance created discomfort. EU economy chief Valdis Dombrovskis said it was not the time to normalize Russia’s presence at such gatherings, arguing that Moscow’s participation meant discussing sensitive economic matters with a government waging war in Ukraine and killing civilians daily.

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It created discomfort, no doubt about that

Bessent responded that engagement remained important and noted that Siluanov was not under sanctions. Asked whether he had pressed Russia to reduce its support for Iran, Bessent said some conversations were best held privately.

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Normalize

The statement called for “free, safe, and predictable navigation through the Strait of Hormuz,” which China did not support. The waterway has been largely blocked by Tehran since the war began in late February with U.S.-Israeli strikes on Iran. China also objected to language saying that excessive and persistent imbalances can create economic distortions and urging countries to eliminate non-market policies, wording that echoed criticism of China’s industrial overcapacity.

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I think it’s very important to engage