MOSCOW, July 17. /TASS/. A Russian delegation comprised of finance ministry and Central Bank officials took part in the third meeting of the Group of Twenty finance ministers and central bank governors in Indonesia on July 15-16.

"The Russian delegation noted that the use of financial measures as a sanction instrument causes tectonic shifts in the global financial architecture and such shifts are entailing further fragmentation of the global financial system," the Russian finance ministry said on Sunday, commenting on the G20 meeting results.

According to the Russian finance ministry, most of the Group of Twenty nations share the opinion that all restrictions should be lifted in order to ensure smooth operation of the global market of fertilizers and food. However, the meeting of the G20 finance ministers yielded no final communique, despite the presidency’s efforts, it added.

The meeting was basically focused on the stabilization of the energy and food markets, preventing the fragmentation of the global financial and economic system. The Russian delegation recalled that the current inflation had been provoked by the limited demand and a fundamental discrepancy between the monetary-and-credit and tax-and-budgetary stimuli.

The Group of Twenty nations agreed to take concrete steps to bridge gas and respond to global threats and help low-income countries.

The nest G20 ministerial meeting will be held during the yearly meeting of the governing bodies of the International Monetary Fund (IMF) and the World Bank scheduled for October 2022 in Washington.