The leaders of the G20 countries appear to be divided, as they said today that they “regret in the strongest terms” Russia’s attack on Ukraine.

The statement, which was adopted, states that most members strongly condemn the war in Ukraine and call for the “full and unconditional withdrawal” of Russia, however, there were other views as well.

The G20 concluded that “the use or threat of use of nuclear weapons is unacceptable. Peaceful conflict resolution, crisis management efforts, and diplomacy and dialogue are vital. In this day and age there should be no war”.

Ukraine’s war, the statement stressed, “is causing enormous human suffering and exacerbating existing weaknesses in the global economy – limiting growth, increasing inflation, disrupting supply chains, increasing energy and food insecurity, and increasing risks to financial stability”.

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The statement also states that member countries’ central banks will continue to appropriately scale the pace of monetary policy tightening. G20 members also reiterate their commitment to avoid excessive volatility in exchange rates.