US president Joe Biden has said that Russia should be expelled from the Group of 20 (G20) alliance of major economies as punishment for Vladimir Putin’s war in Ukraine.
Speaking in Brussels on Thursday where the question of Russia’s exclusion was discussed between Nato leaders, Mr Biden suggested that allowing Ukraine to attend the next G20 summit in Bali, Indonesia, in November might also be an option.
“The single most important thing is for us to stay unified and the world to continue to focus on what a brute this guy is and all the innocent people’s lives that will be lost and ruined and what’s going on,” he told reporters.
But what exactly is the G-20? Here’s what you need to know.
What is the G20?
The Group of 20 is an organization of finance ministers and central bank governors from 19 individual countries and the European Union.
In addition to the United States, those countries are Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey. Collectively, its members represent more than 80 percent of the world’s economic output.
Established in 1999 after a series of major international debt crises, the G20 aims to unite world leaders around shared economic, political and health challenges. It is a creation of the more select Group of 7, an informal bloc of industrialized democracies.
Supporters argue that as national economies grow ever more globalized, it is essential that political and finance leaders work closely together.
What is the G20 summit?
Formally the “Summit on Financial Markets and the World Economy,” the G20 meeting is an annual gathering of finance ministers and heads of state representing the members.
It bills itself as the “premier forum for international economic cooperation.” The heads of state first convened officially in November 2008 as the global financial crisis began to unfold.
The annual summit meeting is hosted by the nation that holds the rotating presidency; this year, it’s Italy.
What happens at a G20 summit?
It is focused on several core issues around which its leaders hope to reach a consensus for collective action.
The goal is to conclude the two-day gathering by issuing a joint statement committing its members to action, although the declaration is not legally binding. But one-on-one meetings can overshadow official business.
Why does Biden want to boot Russia from G-20?
Biden said Russia should be kicked out of the group in retaliation for its invasion of Ukraine.
The move would also further isolate the Kremlin and diminish Russia’s influence over the world’s economy. The U.S. does not have sole power to remove Russia from the group; its members would have to decide.