Following talks in India, the finance ministers of the world's largest economies were unable to come to an agreement on a conclusion due to divergent views on the conflict in Ukraine.
At the G20 talks, Russia and China steadfastly refused to denounce the invasion.
The meeting was allegedly disrupted and "anti-Russian" by Western nations, according to Moscow.
Russia's invasion took place a year ago, and the conflict is still having an impact on the world economy.
Since G20 member Russia invaded Ukraine in February of last year, a move that has been roundly condemned, previous meetings of G20 members have also failed to result in a joint statement.
There were "different assessments of the situation and sanctions" at the two-day meeting, India, which hosted the talks in the southern city of Bengaluru, noted in a "chair's summary" of the meeting.
Two paragraphs that summarized the war were "agreed to by all member countries except Russia and China," according to a footnote that claimed they were adapted from the G20 Bali Leaders' Declaration in November.
The foreign ministry of Russia expressed regret that "the G20 activities continue to be used in an anti-Russian manner and destabilized by the Western collective. way".
It called for them to "acknowledge the objective realities of a multipolar world" and accused the US, EU, and G7 countries of "clear blackmail.".
The wording regarding Ukraine was rejected by Russian and Chinese representatives because "their mandate is to deal with economic and financial issues," according to senior Indian official Ajay Seth, who stated this during a press conference.
The other 18 nations, he continued, "felt that the war has implications for the global economy" and needed to be brought up.
"This is a war," German Finance Minister Christian Lindner declared. And Russia and Vladimir Putin are the cause of this war, the only cause. This G20 finance meeting needs to make that point very clear. " .
This week, Beijing increased its diplomatic efforts to resolve the conflict. Its top diplomat Wang Yi visited Europe, culminating in a cordial welcome by Russian President Vladimir Putin in Moscow.
This week, China also unveiled a 12-point "peace plan" to end the conflict, which included "respecting the sovereignty of all countries" and "ceasing unilateral sanctions."