World leaders gather for G20 Summit

World leaders are gathering in Brisbane for this weekend's summit of G20 nations.

The two-day meeting, attended by the United States, Chinese and Russian leaders among others, will focus on promoting growth.

Tensions with Russia over Ukraine are also expected to draw attention.

Australian Prime Minister Tony Abbott said the leaders would discuss job creation, identifying tax cheats and strengthening the global economy, the BBC reported.

Campaigners also want climate change on the agenda, but Australia has been firm in keeping it off.

'We want to boost growth'

Prime Minister John Key, who left this morning to attend the meeting, warned that conflicts in the Middle East and Ukraine could derail global economic growth.

Yesterday, he met with German Chancellor Angela Merkel and Canada's Prime Minister Stephen Harper.

Mr Key said the G20 leaders' focus on boosting economic growth could be undermined if the situations in Ukraine and the Middle East deteriorate.

"If there was to be a deterioration of the position from ISIS, then that I think presents a real global threat," he said.

"And of course, ultimately, a worsening position in Russia or Ukraine could ultimately lead to a further slowdown in Europe. We're already seeing some reduction in growth there."

Mrs Merkel, who spent the day in Auckland yesterday, agreed that faster economic growth was the main priority of the meeting and said sustainable public finances would help boost economies.

"A very clear message that we want to boost growth. We, from the German side, underline that at the same time we wish for sound fiscal policies," she said, speaking through a translator.

"We think that that is one of the preconditions for a robust growth."

Mrs Merkel said boosting free trade, reducing tax evasion by multinationals, and strengthening the regulation of the financial system were also urgently needed.

Sanctions undermine global economy - Putin

The meeting of the world's wealthiest nations aims to lift their collective economies by an extra 2 percent over the next five years.

However, Russian President Vladimir Putin has slammed G20 member countries for imposing sanctions on Russia, saying they violated the group's principles and contradicted international law.

Mr Putin made the comments as he headed to the G20 Leaders' Summit, where he is expected to come under pressure over Russia's actions in Ukraine.

He said that US and EU sanctions would harm not just Russia but the global economy.

The sanctions were introduced over Russia's annexation of Ukraine's region of Crimea and its alleged involvement in eastern Ukraine.