Russian President Vladimir Putin lashed out against the “discriminatory” sanctions imposed by the US and the European Union on Moscow due to the country’s war against Ukraine.
In an interview with the Xinhua News Agency ahead of the Shanghai Cooperation Organisation (SCO) Summit, Putin pointed out that Russia and China have a common stance against discriminatory sanctions, saying that these sanctions hinder the socioeconomic development of BRICS members and the world at large.
“We stand united in strengthening BRICS’ ability to address pressing global challenges, share similar views on regional and international security, and take a common stand against discriminatory sanctions that hinder the socioeconomic development of BRICS members and the world at large,” he said.
Putin stated that the relationship between Russia and China has reached an “unprecedented level.” He pointed out that the trade between Moscow and Beijing has grown by about $100 billion since 2021.
“In terms of trade volume, China is by far Russia’s leading partner, while last year Russia ranked fifth among China’s foreign trade partners,” Putin said in the interview.
The Russian leader added that trade transactions between Russia and China are almost completely carried out in rubles and yuan, undermining the hegemony of the US dollar, one of the biggest concerns of the Donald Trump administration.
Putin also discussed the future, saying that Russia and China will continue to work to reduce trade barriers and increase commerce between the two countries.
China remains Russia’s leading importer of oil and gasdespite threats of US sanctions. Donald Trump has slapped India with 50% tariffs for buying Russian oil, while Beijing has so far avoided such a penalty.
Putin said that Russia and China are paying special attention to mobilising additional resources for critical infrastructure projects, and stand united in strengthening BRICS’ ability to address pressing global challenges.
Vladimir Putin on SCO and a fair world order
Vladimir Putin shared hopes that the upcoming SCO summit would strengthen the organisation’s capacity to respond to contemporary challenges and threats and help in “shaping a fairer multiple world order.”
“Drawing on these values, the SCO contributes to shaping a fairer, multipolar world order, grounded in international law, with the central coordinating role of the United Nations. A major element of this global vision is the creation in Eurasia of an architecture of equal and indivisible security, including through close coordination among SCO member states,” he said in the interview..
The Russian leader will attend the SCO Summit in Tianjin, scheduled for August 31 and September 1.
He will be joined by leaders of more than 30 countries and international organisations, including Prime Minister Narendra Modi, Pakistani Prime Minister Shehbaz Sharif, Turkish President Recep Tayyip Erdogan, UN secretary general Antonio Gutierrez, and more.
PM Modi is on a visit to Japan, from where he will travel to China for the SCO summit.. During his visit to China, PM Modi will hold two crucial bilateral meetings, one with the Chinese Premier Xi Jinping and one with Russian President Vladimir Putin.
