ST. PETERSBURG, Russia (AP) — Russian President Vladimir Putin Developing countries are playing an increasingly important role in the global economy, he said on Friday, while Western countries’ share of production is shrinking.
At the annual lecture St. Petersburg International Economic Forum, President Putin accused Western countries of weakening the global economy and finances with unilateral sanctions.
He said that by freezing Russian assets abroad, Western countries had undermined confidence in their currency.
“Sanctions and the blockade of Russia’s sovereign reserves have had an irreversible impact on the status of international currencies, the dollar and the euro,” he said. “Like Russia, any other country could lose its legitimate assets in dollars and euros, as well as access to Western financial and payment systems.”
He argued that high national debts are contributing to the erosion of global trust in Western institutions.
“The roots of the current global turmoil lie in the transition from a vertical, hierarchical model that serves the interests of a few states to a more complex, decentralized, multipolar model,” Putin said. “Russia sees global change not only as a threat, but also as an immense opportunity. And to take advantage of it, we aim to act quickly and pragmatically.”
The forum comes at a time when the outlook for Russia’s economy is uncertain. conflict in Ukraine. The government increased taxes and increased domestic borrowing to control the budget deficit.
On Thursday, President Putin told international media chiefs during a question-and-answer session that it was an exaggeration to say Russia’s economy was in trouble. He noted that the government is taking deliberate steps to cool the economy to curb inflation.
President Putin held a forum in St. Petersburg, World Economic Forum held in Davos, Switzerland, This is to highlight the country’s economic development and encourage overseas investment. While Western officials and business leaders have stayed away since President Vladimir Putin sent troops to Ukraine in 2022, Russia has sought out guests from other countries to underline its declared goal of fostering a “multipolar world.”
This year, Saudi Arabia is sending a large delegation, with the presidents of Uzbekistan and Tanzania and the vice president of China also attending. A US official, Rodney Mims Cook Jr., chairman of the American Board of Fine Arts, will attend for the first time in several years.
On Thursday, he also admitted causing the damage. Ukraine drone attack He promised to invade Russia and strengthen its defenses.
“Unfortunately, some of them have broken through,” Putin said of the drone attacks during a media session. “Russia has an air defense system. We need to improve and strengthen it, and we will do it.”
A few hours before the forum opened on Wednesday, a Ukrainian Fire caused by drone attack They also attacked an oil terminal in the city and a nearby naval base.
Putin said Russia was ready to compromise on Ukraine, in line with the understanding reached at last year’s summit with US President Donald Trump in Anchorage, Alaska, adding that Ukraine needed to accept a deal to reach an agreement to end the conflict. Currently in my 5th year.
On Thursday, Ukrainian President Volodymyr Zelenskiy proposed face-to-face negotiations. in a public letter Addressed directly to President Putin. Zelensky Recognized changing U.S. prioritiessaid it would be wrong to wait for the United States to turn its attention back to Ukraine while the United States continues to focus on it. iran war.
Trump said in Washington that it would be “great” for Putin and Zelensky to meet.
Kremlin spokesman Dmitry Peskov said Putin had not yet seen the letter and reiterated that Zelenskyy was welcome to come to Moscow if he wanted to meet, but Zelenskyy flatly rejected the offer. President Putin said last month that he would not rule out talks in third countries, but only if there was an agreement to sign.
Speaking on Thursday, Putin again rejected Zelenskiy’s calls for an immediate ceasefire, insisting that the Kremlin wants a comprehensive solution rather than a temporary one.
“Naturally, the Ukrainian side wants the Russian military to stop advancing,” he said. “But it would be better to agree to the compromise discussed in Anchorage and end the war.”
