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G20 finance ministers and central bank governors began talks in the United States on Monday, with Washington seeking greater international support for its campaign to economically isolate Iran amid the fallout from the US-Israeli war with Tehran.
The two-day meeting in Asheville, North Carolina, comes as the Trump administration tightens economic pressure on Iran while also pushing for stronger global growth and cooperation on trade and financial stability.
US Treasury Secretary Scott Bessent is expected to use bilateral meetings on the sidelines of the gathering to press counterparts to comply with US sanctions against Iran.
A senior US Treasury official said Bessent would deliver a strong message to the G20, urging countries to observe US sanctions if they want to maintain access to the dollar-based international financial system.
The Iran issue is casting a shadow over the broader economic agenda, which includes global growth, trade imbalances and sovereign debt.
The gathering also reflects growing divisions within the G20. Brazil’s finance minister is boycotting the meeting amid tensions with the Trump administration, while Russia is represented despite opposition from some European officials over Moscow’s war in Ukraine.
Washington is hosting the meeting this year as holder of the G20 presidency. South Africa, which hosted last year’s meeting, has been excluded from this year’s gathering by the United States, while Poland has been invited despite not being a permanent G20 member.
US officials said discussions would focus on preventing economic policies that create excess production and capacity that could be pushed into global markets. The issue is closely linked to US criticism of China’s industrial overcapacity and growing trade barriers imposed by the Trump administration.
G20 finance officials will also discuss investment, innovation and productivity, while G7 finance ministers are expected to hold talks on the sidelines.
The G20 brings together 19 countries, the European Union and the African Union and remains a key forum for discussions on global economic and financial stability.
