A majority of finance ministers attending the meeting on Saturday, which coincided with the anniversary of Russia's invasion, backed a "chair's summary and outcome document" issued by India, which holds the G20 presidency.

The document, signed by 17 of the 20 delegates present, reiterated the position taken at last year's summit in Bali, when they denounced "in the strongest terms" Russia's invasion, and demanded a complete withdrawal from Ukrainian territory.

It also repeated the declaration from November that “the use or threat of use of nuclear weapons is inadmissible”.

On Friday, the Group of Seven major industrial nations announced new sanctions against Russia.