WASHINGTON- The steering committee of the International Monetary Fund will not issue a communique on Thursday after Russia blocked consensus by refusing to include strong language condemning its war in Ukraine, a source familiar with the matter said.

The 24-member International Monetary and Financial Committee meets twice a year at the spring and fall meetings of the IMF and World Bank, and advises the IMF Board of Governors. While it has no formal decision-making powers, the IMFC's regular communiques provide strategic direction for the fund's work.

Top officials from the United States, Britain, Canada and the European Union on Wednesday walked out during the remarks of Russian representatives during a meeting of finance officials from the Group of 20 major economies.

(Reporting by Andrea Shalal and David Lawder)