Asheville: G20 finance leaders called for “free, safe, and predictable navigation through the Strait of Hormuz” after talks in the United States, but China objected to the inclusion of the language in the group’s official communique.
The call was included in a chair’s statement issued after the finance ministers and central bank governors failed to reach full consensus on a joint communique.
“We are concerned about continued disruptions to energy trade and stress that the free, safe, and predictable navigation through the Strait of Hormuz and worldwide, and the resolution of ongoing wars and conflicts are essential to sustaining durable growth,” the G20 chair’s statement said.
The dispute over the wording came as the six-month-old US-Iran conflict has sharply disrupted shipping through the strategic waterway, a vital route for global energy supplies.
The Strait of Hormuz normally carries a significant share of the world's oil and gas exports, making continued disruption a major concern for governments and financial markets already grappling with higher energy prices.
The G20 meeting also exposed broader divisions between China and other members over trade imbalances and economic policies, with Beijing objecting to several elements of the proposed statement.
