U.S. Treasury Secretary Janet Yellen said on Wednesday that Russia should be expelled from the Group of 20 major economies forum, and the United States will boycott some G20 meetings if Russian officials show up, APA reports citing Reuters.
Yellen, who spoke at a U.S. House Financial Services Committee hearing, was referring to an April 20 G20 finance ministers and central bank governors meeting, a Treasury spokesperson said – raising questions about the forum's role in the wake of Russia's invasion of Ukraine.
Since 2008, the club has addressed issues from COVID-19 relief to cross-border debt. It also includes countries such as China, India and Saudi Arabia that have been reluctant to condemn the invasion, which Russia calls a "special military operation".
April 6 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Wednesday that Russia should be expelled from the Group of 20 major economies forum, and the United States will boycott some G20 meetings if Russian officials show up.
Yellen, who spoke at a U.S. House Financial Services Committee hearing, was referring to an April 20 G20 finance ministers and central bank governors meeting, a Treasury spokesperson said – raising questions about the forum's role in the wake of Russia's invasion of Ukraine.
Since 2008, the club has addressed issues from COVID-19 relief to cross-border debt. It also includes countries such as China, India and Saudi Arabia that have been reluctant to condemn the invasion, which Russia calls a "special military operation".
Yellen told lawmakers that Russia's invasion and the killings of civilians in the town of Bucha "represent an unacceptable affront to the rules-based global order and will have enormous economic repercussions."
The United States and allies have placed greater emphasis in recent months on the G7 grouping of industrial democracies, whose interests are more aligned, using those meetings to coordinate their response to Russia's war.
Yellen said the Biden administration wants to push Russia out of active participation in major international institutions, though it was unlikely it could be expelled from the International Monetary Fund given its rules.
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