US Treasury Secretary Scott Bessent, on the sidelines of the G20 meeting of finance ministers and central bank governors in Asheville, North Carolina, laid out Washington’s position in stark terms during a conversation with his Russian counterpart, Anton Siluanov.
According to a source familiar with the bilateral meeting, Bessent stated plainly that there could be no economic relief for Russia and no agreements on other issues until the war in Ukraine ends. When Siluanov tried to turn to areas of mutual interest, the US secretary interrupted him: “Nothing is possible until the war is over.”
This was the first in-person appearance by Russia’s finance minister at a G20 meeting since the full-scale invasion of Ukraine in 2022. Siluanov’s presence irritated European delegations. German Finance Minister Lars Klingbeil called the signal “troubling” and stressed that there can be no normalization of relations with Moscow while the war continues. European officials refused to pose for the traditional family photo with the Russian minister.
Russia’s Finance Ministry said the two sides discussed financial cooperation and interaction within the G20. US sources and reporters on the ground said Bessent also pressed President Donald Trump’s peace plan for Ukraine.
The meeting is taking place as the Trump administration seeks to bring Russia back into international economic formats while maintaining sanctions pressure. At the same time, European countries are preparing a new package of restrictions against Moscow.