"The conflict in Ukraine has been going on for a year, and the sanctions have not been effective enough to stop it," RIA Novosti quoted him as saying.
Widodo stressed that Indonesia's neutral position indicates the country's disagreement with the restrictions imposed by the United States and Western allies against Russia.
He added that the country can act as a bridge between Russia and Ukraine.
"Indonesia stands ready to do its part to bridge differences... Peace must be achieved as soon as possible, because at the end of the day, people are the victims," he concluded.
Indonesian Foreign Minister Retno Marsudi earlier at the G20 summit called for a diplomatic settlement of the conflict in Ukraine.
Indian Foreign Minister Subrahmanyam Jaishankar said at the opening of the summit that the G20 countries disagreed on a number of issues, but should act together.