G-20 Latest: Scholz Sees Consensus Emerging on War in Ukraine

Bloomberg News
·15 min read
2
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Bloomberg) -- German Chancellor Olaf Scholz said there’s growing consensus among the Group of 20 leaders that Russia’s war against Ukraine cannot be accepted and that everything must be done to counteract its impact on global food security and rising energy prices.

Most Read from Bloomberg

Russia is expected to agree to extend a United Nations-brokered deal allowing exports of grain and other farm products from the Black Sea, ensuring a vital flow of foodstuffs to the world market.

US President Joe Biden and Indonesian President Joko Widodo announced a climate finance deal providing $20 billion to help the Southeast Asian country shift away from coal power.

The G-20 summit saw a flurry of high-level meetings between world leaders with discussions touching on the global economy, the war in Ukraine and growing tensions over tech supply chains.

Key Developments

  • Russia Expected to Agree To Extend Black Sea Grain-Export Deal

  • Newly Empowered Xi Pivots to Stabilize China at Home and Abroad

  • Russia’s Lavrov Stays in Seat at G-20 During Zelenskiy Speech

  • Most G-20 Leaders Agree to Condemn Russia for War in Ukraine

  • Putin May Be Absent But He Is Still on G-20 Leaders’ Minds

(All times local)

Biden Meets Italy’s Meloni (7:00 p.m.)

Biden met with Italian Prime Minister Giorgia Meloni to discuss China, climate change, and Russian energy, the White House said Tuesday.

The meeting between the two leaders came after the US president suggested earlier this year that the election of Meloni, who heads the far-right Brothers of Italy party, was a threat to democracy. But the White House has struck a more conciliatory tone since Meloni became prime minister, as the US hopes to keep Italy’s support for sanctions on Russia over the war in Ukraine.

The sit-down with Meloni was one of a flurry of meetings for the US president on the sidelines of the G-7 summit in Bali, Indonesia, that ran late into the night Tuesday and prompted Biden to ultimately skip the summit’s leaders’ dinner.

Scholz sees G-20 Consensus Emerging on Russia’s War in Ukraine (6:17 p.m.)

German Chancellor Olaf Scholz told reporters that there is a growing consensus among G-20 leaders that Russia’s war against Ukraine cannot be accepted and that everything must be done to counteract its effects on global food security and rising energy prices.

Scholz said that G-20 leaders in their joint communique would also make clear that the use of nuclear weapons is not an option. The chancellor added that the draft G-20 statement would point to an UN general assembly resolution in which Russia’s war against Ukraine was condemned by a large majority of nations.

“That’s a consensus that’s gradually gaining ground here - and I think it’s a great step forward, which was not to be expected when we talked earlier this year about how this G20 summit will proceed in the face of this war,” Scholz said.

Climate Fund In Talks For India Energy Transition Deal For 2023 (6:01 p.m.)

The Climate Investment Fund is in talks with the Indian government over a deal to phase out coal power and build renewable energy capacity, CEO Mafalda Duarte said Tuesday.

Modi and Biden Discuss Quad, Tech Cooperation (5:47 p.m.)

The two leaders discussed the “continuing deepening of the India-US strategic partnership,” India’s Ministry of External Affairs said in a statement.

This includes cooperation in areas like critical and emerging technologies, advanced computing and artificial intelligence. “They expressed satisfaction about the close cooperation between India and US in new groupings such as the Quad, I2U2, etc.,” the statement added.

UN Has Said Russian Demands on Grain Deal Will Be Upheld, Lavrov Says (5:45 p.m.)

The United Nations has promised that Russia’s demands on the grain deal will be upheld, Foreign Minister Sergei Lavrov told reporters in Bali.

Lavrov accused Ukraine of setting unacceptable conditions, without specifying what they were. Russia last month suspended it’s involvement in the grain deal, blaming Ukraine for an attack on it’s Black Sea fleet in Crimea, before abruptly rejoining the accord days later.

Russia Expected to Agree to Extend Black Sea Grain-Export Deal (5:31 p.m.)

Russia is expected to agree to extend a United Nations-brokered deal allowing exports of grain and other farm products from the Black Sea, ensuring a vital flow of foodstuffs to the world market.

Russia is likely to allow the deal to renew after its Nov. 19 expiration, according to four people familiar with the situation, all of whom spoke on condition of anonymity to discuss matters which aren’t yet public. They didn’t specify whether Russia would seek to add new conditions in return for the extension or any other details.

Biden Shows Appreciation to Erdogan for Pushing Black Sea Grain Extension (5:29 p.m.)

Biden expressed his appreciation to his Turkish counterpart for his efforts to renew the Black Sea grain export deal, which “has been critical to improving global food security amid Russia’s war,” according to a White House readout.

The two leaders also discussed continued close coordination on NATO Alliance issues, and other issues of regional and global concern.

UK PM, Saudi Crown Prince Discuss Energy Prices (4:48 p.m.)

UK Prime Minister Rishi Sunak met Mohammed bin Salman, Crown Prince and Prime Minister of Saudi Arabia, at the sidelines of the G-20 summit to talk about energy prices.

According to Sunak’s office, the premier said he hoped they could work to stabilize energy markets. The pair discussed deepening economic ties between the two nations, Sunak’s office said.

Albanese Says Xi Meeting an Important Step Toward Stabilization (4:44 p.m.)

Australia Prime Minister Anthony Albanese said his meeting with Chinese President Xi Jinping was an important step toward the stabilization of ties between the two countries.

“We are always going to be better off when we talk to each other, calmly and directly,” he said in a statement. “There are many steps yet to take. We will cooperate where we can, disagree where we must, and engage in our national interest.”

Turkey’s Erdogan Meets Briefly With Biden at G-20 (4:38 p.m.)

Turkish President Recep Tayyip Erdogan and US President Joe Biden held a brief, unscheduled meeting on the sidelines of G-20 leaders summit in Indonesia.

Biden Has Unannounced Meeting With Erdogan, a US and NATO Foil

Erdogan earlier said he would discuss Turkey’s long-standing request to extradite US-based cleric Fethullah Gulen, who has been accused by the Turkish government of masterminding a failed coup attempt in 2016.

Turkey has also been seeking to win approval from Biden to support a request to purchase 40 new F-16s from Lockheed Martin Corp. and some 80 kits to modernize its existing fighters.

Xi Tells Dutch PM That China Is Against Politicizing Trade (4:30 p.m.)

China is willing to work with the Netherlands to stick to the right direction of economic globalization and uphold the multilateral trade system, President Xi Jinping told Dutch Prime Minister Mark Rutte, state broadcaster CCTV reported.

Xi said that all nations should work together instead of pushing for decoupling.

Xi Tells Dutch PM to Avoid Decoupling Amid US Pressure on Chips

Biden, Jokowi Unveil $20 Billion Deal to Wean Indonesia Off Coal (3:45 p.m.)

The funding deal, brokered between the US, Indonesia and Japan, is set to be outlined Tuesday on the sidelines of the Group of 20 summit in Bali, following more than a year of talks. It is the largest single climate finance transaction ever, according to a senior US Treasury Department official.

Under the package, Indonesia will commit to capping carbon dioxide releases from its electricity sector at 290 megatons by 2030 -- an emissions peak that will apply not just to its conventional grid but also power suppliers for industrial facilities.

The Indonesian government has proposed a total of 5.2 gigawatt of coal-fired plants under the deal, Coordinating Minister for Investment and Maritime Affairs Luhut Panjaitan said at a later briefing.

FIFA President Seeks Cease-Fire on War in Ukraine for World Cup (2:05 p.m.)

FIFA President Gianni Infantino appealed to world leaders at the G-20 summit for a cease-fire for at least a month during the World Cup soccer matches in Qatar.

Russia’s Lavrov Stays in Room During Zelenskiy Address to G-20 (1:07 p.m.)

Russian Foreign Minister Sergei Lavrov stayed in the room during a virtual address by Ukrainian President Volodymyr Zelenskiy to Group of 20 leaders meeting in Bali, Indonesia, according to people familiar with the matter.

G-20 leaders also remained listening in their seats when Lavrov addressed the summit, the people said. There had been suggestions ahead of time that some leaders might leave when Lavrov delivered his remarks.

South Africa Concerned with Lack of Progress at COP27 (12:59 p.m.)

South African President Cyril Ramaphosa said there was concern over lack of progress on key issues in the multilateral negotiations at COP27, especially with regards to loss and damage, finance, technology, capacity building, adaptation and the just transition.

“Industrialized countries in the G-20 need to demonstrate more ambitious climate action and must honor their financial commitments to developing economies,” he said in remarks delivered at the meeting.

Erdogan Meets Saudi Crown Prince (12:59 a.m.)

Turkish President Recep Tayyip Erdogan holds meeting with Saudi Crown Prince Mohammed Bin Salman on the sidelines of the G-20 summit, state-run Anadolu Agency reports.

IMF’s Georgieva Says a Divided World Loses at Least 1.5% of GDP Yearly (12:27 p.m.)

International Monetary Fund Managing Director Kristalina Georgieva said protectionism must not be allowed to take root and for the world to drift into separate blocs.

“We have calculated that a world divided would lose at least 1.5 percent of GDP annually,” she said in remarks delivered at the G-20 meeting. “And the cost would be much higher--2 times higher or more--for open economies, those that depend on international cooperation.”

France Says China’s Stance On Russia Getting More Balanced (12:14 p.m.)

China’s position on Russia’s war against Ukraine is moving toward a more balanced and constructive stance, a French official said after a meeting between President Emmanuel Macron and Xi Jinping in Bali.

China has been very clear in its view on a potential nuclear attack on Ukraine and has been sending messages to the Russians, the official said.

During the meeting, Macron requested that Xi urges Russian president Vladimir Putin to de-escalate and get back to the negotiation table, the official said. The French leader intends to visit China when Covid rules allow.

China, EU Support Indonesia’s Push for African Union Representation at G-20 (11:59 a.m.)

Chinese President Xi Jinping said he supported the push for the African Union to join the G-20 when he addressed the summit, Xinhua reported. The European Union also backed this initiative.

This was first proposed by Indonesia as this year’s G-20 host to ensure the concerns of the continent would be represented.

The African Union is a grouping of 55 states with a combined gross domestic product of more than $2 trillion, which would place it within the world’s top 10 largest economies. South Africa is the only G-20 member from the continent.

Argentine President Skipped G-20 Speech on Health Issue (11:48 a.m.)

Argentine President Alberto Fernandez skipped his address to the rest of the G-20 leaders due to complications from hypotension, La Nacion reported.

His press officer in Bali said the president is doing better.

Most G-20 Leaders Agree to Condemn Russia for War in Ukraine (11:44 a.m.)

A majority of G-20 nations are set to condemn Russia’s war in Ukraine, according to a joint statement drafted for the summit that was seen by Bloomberg.

The statement cites a discussion at the summit about the impact of the conflict on the global economy. It refers to the “war in Ukraine” but not “Russia’s war in Ukraine,” and represents a compromise in wording designed to get as many G-20 leaders to sign off as possible.

Modi Also Warns of Looming Fertilizer Crisis in G-20 Session (11:38 a.m)

Indian Prime Minister Narendra Modi warned that the current shortage of fertilizers is a “huge crisis” and there needs to be mutual agreement to maintain the supply chain.

Modi defended India’s energy security needs, saying there should not be any restrictions on the supply of energy and the stability of the energy market should be ensured. India has purchased millions of barrels of discounted Russian oil shunned by Europe and the US since the war in Ukraine began, and Moscow remains a key weapons supplier.

“I have repeatedly said that we have to find a way to return to the path of ceasefire and diplomacy in Ukraine,” Modi said at the Food and Energy Security session. “The need of the hour is to show concrete and collective resolve to ensure peace, harmony and security in the world.”

Ukraine President Zelenskiy Addresses G-20 Meeting (10:57 a.m.)

Ukrainian President Volodymyr Zelenskiy delivered an “impassioned, yet detailed” speech calling for the restoration of peace and respect for the UN Charter at the G-20 summit, European Union ambassador to Indonesia Vincent Piket said in a tweet.

Indonesia Warns the Coming Year May Be Even More Challenging (10:20 a.m)

Widodo opened the first session of the summit with an appeal for global action to ease food insecurity and improve access to energy supply.

“Don’t underestimate the problem of fertilizer,” Widodo said. “If we don’t immediately take steps to ensure sufficient availability of fertilizer at an affordable price, then 2023 will be a more dismal year. The current high food prices could worsen by becoming a food supply crisis. Fertilizer scarcity will cause crop failure in various parts of the world.”

He also called for an end to the war in Ukraine, while adding “we shouldn’t divide the world into parts. We must not let the world fall into another cold war.” Widodo, known as Jokowi, did not mention Russia by name when speaking about the conflict.

Biden Tests Negative for Covid Ahead of G-20 Summit (10:17 a.m.)

US President Joe Biden tested negative for Covid-19 ahead of the Group of 20 meetings in Bali, laying to rest concerns of an infection after meeting Cambodian Prime Minister Hun Sen who said he got a positive result.

“The President tested negative this morning and is not considered a close contact,” the White House said.

Macron Calls On Xi To Cooperate on Climate, Ukraine (9:20 a.m.)

French president Emmanuel Macron called on Chinese counterpart Xi Jinping in a meeting Tuesday to “join our forces” to address major global challenges including climate change and Russia’s war against Ukraine.

In remarks made at the start of a conversation that went for around 45 minutes, Macron said he agreed with Xi that everything must be done so the Indonesian hosts can make the summit a success by “reducing tensions and gaps in the global environment” and “allow us to bring peace back everywhere a conflict has settled.”

Xi is set to meet other leaders on the sidelines of the G-20 including the president of South Korea and the prime minister of Australia.

Cambodia PM Tests Positive for Covid After Meeting World Leaders (9:01 a.m.)

Hun Sen said he tested positive for Covid-19 just two days after meeting world leaders including US President Joe Biden and Chinese Premier Li Keqiang during a regional summit in Phnom Penh.

Hun Sen made the announcement in a Facebook post Tuesday. The Cambodian leader said he missed a dinner with heads of state on Monday evening due to his late arrival to Bali, and will be returning to Cambodia.

Ukraine Seeks New Grain Shipments to Commemorate 1930s Famine (8:57 a.m.)

The Ukrainian government is working with supporter nations to fund new shipments of grain around the anniversary of the 1930s Holodomor famine -- a symbolic push that comes amid discussions to extend a deal that allows grain exports from its war-stricken ports.

Officials in Kyiv are seeking funding and support for shipments that would be timed for the late November commemoration of the famine.

The plans are at an early stage and it’s unclear how many ships might be involved and how much it would cost, according to officials familiar with the matter who asked not to be identified discussing the negotiations.

Biden Says He Doesn’t See ‘Imminent’ Threat of Taiwan Attack (10:39 p.m.)

“I do not think there’s any imminent attempt on the part of China to invade Taiwan,” Biden said at a news conference after his meeting with Chinese President Xi Jinping. “I absolutely believe there need not be a new Cold War.”

The two men agreed to a series of goodwill gestures intended to improve ties between their countries, including the resumption of talks on climate change, global economics and other issues between senior officials. US Secretary of State Antony Blinken will visit China, Biden said.

G-20 Negotiators Now Agree Draft Statement Language (10:30 p.m.)

Group of 20 diplomats have agreed on a proposed statement, according to multiple officials, with wording that papers over differences on how hard to call out Russia for its war in Ukraine.

The draft still needs to be approved by leaders when they meet in Bali, Indonesia from Tuesday, the officials said.

Some officials had talked earlier Monday of the prospect of a communique involving different language in some parts where the war would be described. Three diplomats said this had indeed provided a way through, allowing the Indonesian hosts to get a statement to put to leaders for their sign off.

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.