U.S. Treasury Secretary Scott Bessent delivered a blunt message to Russian Finance Minister Anton Siluanov on the sidelines of a Group of 20 finance leaders’ gathering in Asheville, North Carolina: no sanctions relief or new agreements with Moscow are possible as long as the war in Ukraine continues.
The rare in-person encounter marked Siluanov’s first appearance at the summit since Russia’s 2022 invasion of Ukraine, and it underscored Washington’s willingness to reopen high-level diplomatic channels with Moscow — even as European allies have sought to keep Russia isolated.
According to Reuters, Bessent made clear that “nothing is possible until the war is over” when Siluanov raised other areas of mutual interest. The meeting’s agenda centered on President Donald Trump’s peace plan for Ukraine and economic growth, Axios reported, while Russia’s finance ministry described the discussions as covering financial cooperation between the two nations within the G20 framework.
European allies object
The surprise return of a senior Russian official to the table sparked dismay among European officials, who objected to appearing alongside Siluanov in the traditional G20 photo. The photo was ultimately taken without the Russian minister, reflecting the depth of European opposition.
European governments have planned to expand sanctions to further squeeze Moscow’s economy and finances, even as the U.S. has signaled a more open posture toward dialogue. The juxtaposition highlights a growing transatlantic rift over how to handle Russia while the conflict grinds on.
Bessent’s comments align with the Trump administration’s stated focus on brokering a peace deal, but they leave little room for economic engagement in the near term. For Moscow, the message reinforces that the financial cost of the war — including sanctions and lost access to Western markets — will persist until a resolution is reached.
The G20 meeting in Asheville continues, with finance leaders grappling with global growth pressures and geopolitical tensions. The Bessent-Siluanov exchange, though brief, signals that the U.S. is willing to talk — but on its own terms.
Source: www.cnbc.com — https://www.cnbc.com/2026/09/01/bessent-russia-ukraine-war-sanctions-war-g20-.html
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