Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Canada's Freeland strays from G20 economic script to warn Russia on Ukraine - sources

Economy Feb 18, 2022 08:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, February 17, 2022. REUTERS/Patrick Doyle

By David Lawder and Andrea Shalal

WASHINGTON (Reuters) - Canadian Finance Minister Chrystia Freeland stepped well beyond economic policy at a G20 finance meeting on Friday to issue an "impassioned" warning to her Russian counterparts not to invade neighboring Ukraine, two sources familiar with her remarks said.

During a contentious G20 meeting hosted by Indonesia, Freeland directly addressed Russian Finance Minister Anton Siluanov and central bank governor Elvira Nabiullina and warned them that Russia would face "crushing" sanctions in the event of an invasion.

"If Ukraine is invaded, all of our economies and citizens will suffer," Freeland told them, according to one of the sources. "The economic sanctions on Russia will be swift, they will be coordinated, they will be crushing. Like-minded countries agree on this course of action. And we are united and resolute."

Freeland's press secretary, Adrienne Vaupshas, did not respond to a Reuters request for comment on her speech. Freeland participated in the meeting on a web link from Ottawa.

The source said that Freeland, previously Canada's foreign minister, took an opportunity to speak directly to influential Russian policy makers at a critical moment as tensions intensified on the Ukraine-Russian border, where Russia has amassed more than 100,000 troops.

"Do not hurt yourselves in doing this," Freeland said, according to the sources. "Let's not endanger the collective here, including economically.

A second source said that the Russian officials responded to Freeland's "impassioned" speech by saying that reports on the threat of an invasion were "fake news."

G20 finance officials on Friday argued over communique language describing geopolitical risks to the global economy, deleting a reference to "current" tensions in a final statement after objections by Russia and China.

The disagreements over this issue and treatment of debts for poor countries delayed the communique for hours as markets fretted over the prospect of war in Ukraine.

Freeland, a fluent Russian speaker who once served as the Financial Times' Moscow bureau chief and whose grandfather was born in Ukraine, delivered one line in Russian, according to the first source, but said in English: "You may think that for a number of us like-minded democracies here, you may think that democracies are weak. But do not doubt us and do not doubt our resolve."

Canada's Freeland strays from G20 economic script to warn Russia on Ukraine - sources
 

Related Articles

JPMorgan Forecast ‘Perilously Close' to a Recession
JPMorgan Forecast ‘Perilously Close' to a Recession By Investing.com - Jul 01, 2022 2

By Sam Boughedda JPMorgan (NYSE:JPM) analyst Michael Feroli said in a note Friday that softer economic data this week is leading the firm to revise its tracking of second-quarter...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Donna Money
justdee Feb 19, 2022 9:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Chrystia Freeland for Canada's next prime minister!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email