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APEC leaders condemn Russian war in Ukraine, global economic impacts

Recovering from the nearly three-year COVID-19 pandemic is a priority for the organization along with dealing with climate change, food shortages and inflation.

Thailand's Prime Minister Prayut Chan-o-cha addresses an APEC leaders' meeting in Bangkok
Thailand's Prime Minister Prayut Chan-o-cha addresses an APEC leaders' meeting in Bangkok (AN/APEC)

A majority of leaders among the 21-nation Asia-Pacific Economic Cooperation forum condemned Russia's invasion of Ukraine, and called for an immediate withdrawal.

"Most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy – constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks," said a declaration on Saturday from the two-day 29th APEC Economic Leaders’ Meeting in Bangkok, chaired by Thailand's Prime Minister Prayut Chan-o-cha.

"There were other views and different assessments of the situation and sanctions," it added in language that echoed a leaders' statement last week from the Group of 20 major economies in Bali, Indonesia. "Recognizing that APEC is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy."

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