Russia has denounced sanctions and asset seizures imposed by the European Union and the United Kingdom as “illegitimate and unilateral actions” during the opening session of the G20 summit. The sanctions were imposed in response to Russia’s invasion of Ukraine. Maxim Oreshkin, the deputy chief of staff of the Russian Presidential Executive Office, led the Russian delegation in the absence of President Vladimir Putin, who is under an arrest warrant from the International Criminal Court for alleged war crimes.
Oreshkin criticized the financial aid provided to Ukraine, arguing that international financial institutions are deviating from development finance to military expenditures. He claimed that the financing provided to Ukraine ultimately benefits Western economies and is often channeled through corrupt schemes. According to Oreshkin, the World Bank has provided Ukraine with more aid in three years than to all African countries combined.
The Russian delegation’s statement comes as the international economic order is facing a crisis and no longer matches new and emerging realities. This sentiment is echoed as the United States President Donald Trump is putting forward a controversial peace plan to end Russia’s war in Ukraine. The plan, which has been met with skepticism, would cede land to Russia and limit the size of Kyiv’s military.
The proposed peace plan has significant implications for the ongoing conflict in Ukraine, which has resulted in widespread devastation and loss of life. As the international community continues to grapple with the crisis, Russia’s denunciation of sanctions and asset seizures highlights the complex and contentious nature of the issue. The next steps in the conflict and the implementation of any peace plan will be closely watched by the international community.
In the context of the G20 summit, Russia’s statement serves as a reminder of the deep divisions and challenges facing the global economy. The summit provides a platform for world leaders to address pressing issues, including the conflict in Ukraine and the state of the international economic order. As the situation continues to evolve, it remains to be seen how the international community will respond to Russia’s assertions and the proposed peace plan.