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G20 finance ministers discuss situation in Ukraine - Russian finance minister

October 11, 2014, 6:50 UTC+3 WASHINGTON

The imposed sanctions hamper the economic development, he said

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Anton Siluanov

Anton Siluanov

© Anton Novoderezhkin/TASS

WASHINGTON, October 11. /TASS/. The G20 finance ministers discussed the situation in Ukraine on the sidelines of an international financial and economic conference, Russian Finance Minister Anton Siluanov said on Saturday.

The imposed sanctions hamper the economic development, he said.

“Of course, this was discussed on the sidelines (of the conference). Everybody talks about the wish to settle the situation in southeastern Ukraine and the strive for getting rid of sanctions because it is evident that this prevents the development of business and economic stimulus,” Siluanov said.

The latest IMF outlook proves that the economy represents the rate of decline. “The sanctions only add negative proof in this outlook,” he said.

“We believe that nobody really needs sanctions. They run counter to our tasks for contributing to the economic growth,” Siluanov said.

“We believe that the 12-point agreements reached in Minsk are starting to be implemented inside Ukraine,” he said.

The sanctions can also have a negative impact on the European economy. “We have considerable trade turnover with European countries, particularly with Germany. But our colleagues agree on [these sanctions] despite the costs for their economy,” Siluanov said.

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