Union Finance Minister Nirmala Sitharaman meets Russian Finance Minister Anton Siluanov on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting in Asheville. Photo credit: @FinMinIndia X/ANI
Finance Minister Nirmala Sitharaman met her Russian counterpart Anton Siluanov and discussed strengthening bilateral cooperation and establishing the Shanghai Cooperation Organisation Development Bank.The two ministers met on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting in Asheville, about 760 km from in Washington, on Monday (August 31, 2026).“The two sides exchanged views on strengthening bilateral cooperation, regional and global economic developments, and issues of shared interest in the multilateral sphere,” the Finance Ministry said in a statement on Tuesday (September 1, 2026).Ms. Sitharaman and Mr. Siluanov discussed cooperation in the New Development Bank and the Asian Infrastructure Investment Bank and explored areas of mutual interest for strengthening both institutions as effective multilateral development banks.“They also discussed the establishment of the Shanghai Cooperation Organisation Development Bank,” the statement said.Mr. Siluanov's presence at the G-20 marked the first in-person participation of a Russian leader at the meeting of the multilateral forum in the U.S..Earlier, Mr. Siluanov had participated in a G-20 meeting by video link in April 2022, prompting several Western Finance Ministers to walk out in protest.
