The G20 Finance Ministers’ meeting in Gandhinigar, India, ended without a joint communique. Again, the Western finance ministers were pushing for a statement on Ukraine that targeted Russia, and not everyone was willing to accept that, probably not even the host, India. Therefore, the Indian hosts simply issued a communique on their own.
Treasury Secretary Janet Yellen did her best to court India, meeting with the Indian Finance Minister before the general meeting. She is pushing debt restructuring of a sort that emphasizes climate change. She is also pushing “friend-shoring” with regard to supply-chain restructuring. She said she sees India as an indispensable partner in the U.S.’s “friend-shoring strategy,” adding that the U.S. would continue to cut off Russia’s access to the military equipment and technologies that it needs to wage war against Ukraine.
