Joachim Nagel, President of the Bundesbank, criticized Russia's calls for international cooperation during the Group of 20 meetings, stating that they are hypocritical due to Russia's ongoing invasion of Ukraine.

Nagel, speaking in Washington, highlighted the connection between the economic downturn in Germany and the conflict initiated by Russia in the spring of 2022. He emphasized the broader impact of the war on global economies, particularly in Europe, where Germany has faced significant economic challenges.

Nagel stressed the importance of acknowledging the origins of these issues, indicating that the geopolitical landscape continues to affect economic stability and growth.