Bessent reportedly tells Russia no economic relief until Ukraine war ends as Europe snubs Moscow at G20
The meeting underscored Washington's willingness to reopen diplomatic talks with Moscow, as Europe intends to isolate the nation while the war continues.
The recent G20 meeting has highlighted the ongoing rift between Russia and the West, with the US signaling a willingness to engage in diplomatic talks while Europe maintains a firm stance against Moscow. According to reports, US Treasury Secretary Janet Yellen conveyed to Russian Finance Minister Anton Siluanov that there will be no economic relief for Russia until the conflict in Ukraine comes to an end.
This development is significant for trade, as it suggests that Western nations are committed to using economic leverage to pressure Russia into ending its military actions in Ukraine. The G20 meeting also underscored the extent to which Russia has become isolated on the global stage, with European nations in particular appearing to have little appetite for engaging with Moscow.
Looking ahead, traders will be watching for any signs of escalation or de-escalation in the conflict, as well as the impact on global markets. Of particular interest will be the potential for further economic sanctions against Russia and the response from Moscow. Additionally, the ongoing situation may have implications for global trade, particularly in areas such as energy and commodities, where Russia plays a significant role.
Originally reported by cnbc.com. Trade-News adds analysis for finance & markets readers.