G20 to discuss sanctions, trade wars throttling economic growth, says Russian minister

ST. PETERSBURG, November 26. /TASS/. The issue of restrained economic growth of the countries due to sanctions and trade wars will be brought up at the G20 summit in Argentina, Russia’s Economic Development Minister Maksim Oreshkin said on the sidelines of the first Russian-Indian strategic economic dialogue on Monday. "I would not like to dwell upon that particular situation, but overall we see that the trend concerns not only Russia, but China, India as well. Sanctions are being discussed, additional trade restrictions are being imposed, which is why, of course, that process may be associated with some particular events, but generally one should be aware of the fact that this is part of the process of curbing the economy of developing countries, such as Russia, China, India," he said when asked whether he expects the sanctions pressure to be tightened after the detention of three Ukrainian Navy vessels in the Black Sea. "I think that the issue will be also brought up at the G20 (summit) when discussing the fact that those measures being used by separate countries from the viewpoint of trade restrictions, the viewpoint of sanctions restrictions, more evidently are aimed at curbing the economic expansion of developing countries," Oreshkin said. The minister noted that China has already become the world’s biggest economy in terms of purchasing-power parity. "The US realizes that, which is why the trade war, the measures being used against China are first of all aimed at throttling its economic (growth)," he explained. "Those measures can have any explanation - they may be associated with particular events, while explanations may consist of phrases about trade imbalance between the countries, but the actions being used are clearly aimed directly at throttling economic growth of China, Russia, India and other emerging economies that are gradually getting right behind the US and other countries from the viewpoint of global economic leadership," Oreshkin stressed. The G20 summit is scheduled to be held in Argentina’s capital of Buenos Aires on November 30 to December 1. Japan will then take over the G20 presidency. Read more