The G20 finance ministers will discuss the Ukraine crisis this week but it is unclear whether they will issue a joint statement or just exchange views, a German government spokesman said on Wednesday, Reuters reported.

G20 finance ministers and central bank governors will meet in Indonesia. Many participants, including German Finance Minister Christian Lindner, will attend virtually because of the latest wave of the coronavirus.

On Monday, G7 finance ministers warned Russia of "massive" economic consequences if it decides to invade Ukraine, to which they also promised swift and decisive support.

It is unclear whether the G20, which includes China and Russia itself, will issue the same stark warning to Moscow.

A German government spokesman said the Europeans in the G20 also wanted a swift implementation of global tax reform, which, among other things, provides for a minimum tax for companies of 15 percent.

Tax reform in nearly 140 countries is set to take effect as early as 2023. But some consider that goal ambitious and perhaps unattainable.