The walkout in Bangkok

Several delegations left a steering committee meeting of the International Monetary Fund in Bangkok on Saturday, 17 October, just as Russian Finance Minister Anton Siluanov started to address the room. Three sources present at the session told Reuters that the group included members from the European Union. About ten delegates, from Denmark, Sweden, Finland, Norway and the Baltic states, left the room, and the Dutch finance ministry confirmed that the Netherlands also walked out. Germany joined the departure, according to Reuters. It is the first time since Russia's full-scale invasion of Ukraine in February 2022 that Russian officials on international sanctions lists have been welcome at the IMF annual meeting.

Why the Netherlands objected

Dutch Finance Minister Eelco Heinen had already stayed away from another meeting on the sidelines of the IMF gathering. On Wednesday evening, 14 October, he also skipped a dinner for delegation heads hosted by the Thai prime minister, after it became clear at the last minute that sanctioned Russians were on the guest list. Heinen explained his position in blunt terms.

“We are not going to sit at the table with persons sanctioned by Europe and the US. This would normalise the relationship.”

Heinen added that the current situation is not normal. He also said that Russia is escalating the war and that innocent people are dying, which in his view means Europe cannot act as if nothing is happening.

Berlin and Washington

On Thursday, 15 October, German Finance Minister Lars Klingbeil said he could see attempts, particularly from the United States, to bring Russia back onto the international stage. The same day Germany warned against efforts to reintegrate Russia into international institutions. Those warnings followed Siluanov's attendance at a G20 meeting of finance ministers and central bank governors in Asheville, North Carolina, at the end of August. The United States, which currently holds the G20 presidency, had supported the Russian minister's presence despite objections from European members. One source said the US had not even condemned Russia in its contribution to the IMF meeting, while other countries backing Ukraine did so.

Sanctions relief and EU support for Kyiv

The week before, in the week of 5 October, Donald Trump reached an agreement with Moscow allowing exports of Russian diesel. On Friday, 16 October, he announced that several sanctions, restrictions and tariffs on Russia would be lifted, even though they were set under a law passed by Congress that he had signed in September. One report said the aim is to bring down diesel prices before the midterm elections, after prices rose during the US conflict with Iran. On the same day EU leaders gathered in Brussels and expressed support for Ukrainian President Volodymyr Zelensky, who had faced sharp criticism from Trump for several days.

Divisions inside the IMF

Reuters noted that since February 2022, deep divisions within the International Monetary and Financial Committee, the IMF's advisory body, have prevented it from adopting joint statements by consensus. Tensions have risen again this year, partly because relations between the United States and Ukraine have worsened. A European diplomat quoted anonymously said the war in Ukraine is existential for Europe and that relations with Russia cannot be normalised. The walkout in Bangkok shows how far apart the sides remain on whether Russia should return to the table.