Vladimir Putin, the president of Russia, has denounced “discriminatory” sanctions from the West, which are supported by a corrupt financial system and the country’s economy, which is teetering against the ebb and trade restrictions, and costing his invasion of Ukraine.
Putin spoke with China’s top news agency, Xinhua, in an interview that was released on Saturday, on the eve of his trip to China to meet with Chinese President Xi Jinping and watch a massive parade to honor Japan’s formal surrender.
According to the full transcript of his interview, which was made available by Xinhua, “It is essential to end the use of finance as an instrument of neo-colonialism, which runs against the interests of the Global Majority.”
We support the International Monetary Fund and World Bank reform, along with our Chinese partners. In his interview, which was filled with praise for China, Putin stated that “we are united in the view that a new financial system must be founded on openness and true equity.
According to Putin, a new financial system would allow all nations to have equal and non-discriminatory access to its resources and reflect the actual standing of its members in the world economy.
Russia and China will continue to work together toward this noble goal, he said, “always supporting our efforts to ensure the prosperity of our great nations.”
Putin will visit China, Russia’s biggest trading partner, from Sunday through Wednesday for a four-day visit that the Kremlin describes as “unprecedented.”
The Russian leader will first take part in Tianjin, a port city in northern China, for the Shanghai Cooperation Organization (SCO)’s two-day summit. The security-focused SCO, which was established in 2001 by a group of Eurasian countries, now has 10 permanent members, including Iran and India.
Putin will then travel to Beijing to meet with President Xi and watch the military parade in the country’s capital.
China was the one who broke with Russia when Western countries cut ties with it after Moscow staged its full-scale invasion of Ukraine. By purchasing Russian oil and selling electronics, the two countries increased bilateral trade to a record $ 245 billion in 2024.
According to Putin, China is now by far Russia’s largest trading partner by volume, and trade between the two nations is almost entirely conducted in Russian roubles and Chinese yuan.
He claimed that the two countries are working together to reduce bilateral trade barriers because Russia is a major oil and gas exporter to China.
Source: Aljazeera
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