November 29, 2022

Brighton Journal

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Live News Updates: Chinese stocks rise after Xi-Biden’s G20 meeting

Live News Updates: Chinese stocks rise after Xi-Biden's G20 meeting

Indonesian President Joko Widodo greets Russian Foreign Minister Sergei Lavrov in Bali © Kevin Lamarque / Reuters

The European Union delegation said on Tuesday that diplomats from the Group of 20 nations have reached a settlement agreement on a joint statement for their leaders to sign, after days of negotiations on a statement acceptable to both Western powers, Russia and China.

Leaders of most of the world’s most powerful countries met in Bali, Indonesia, on Tuesday amid disagreements over Russia’s war in Ukraine. Officials fear that the summit will be the first of the G20 to end without a joint statement.

But Charles Michel, the president of the European Council, said on Tuesday morning that MPs signed an agreement late Monday night, which will now be presented to the leaders for their final approval.

Another Western delegation confirmed that deal, but other officials warned that the agreement could still fall through before signing.

Russian President Vladimir Putin was absent from the summit and his foreign minister, Sergei Lavrov, was sent in his place.

His war will dominate the Bali summit as countries grapple with the effects of hyperinflation, instability and food and energy shortages, but also squabble over whether Putin is responsible and how the conflict should end.

China, which has not condemned Putin and his annexation of parts of eastern Ukraine, last week blocked Western efforts to use strong language in the G20 statement condemning Moscow.

“We must try to use the G20 meeting to try to persuade all partners to put more pressure on Russia,” Michel said on Tuesday, before the official start of the summit.

He added that Michel had no plans to meet Lavrov in Bali.

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