Weaponisation of Dollar Has Undermined Confidence in This Currency: Putin
16:28 23.10.2024 (Updated: 18:03 23.10.2024)
© Sputnik / Sergey Bobylev
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KAZAN, Russia, (Sputnik) – The dollar is really being used as a weapon, this is a big mistake, Russian President Vladimir Putin said on Wednesday.
Russia does not abandon the dollar, but is forced to look for alternatives to it, as dollar's weaponisation undermines confidence in this currency, the president added.
"Yes, indeed, we see that this is so. In fact, I think that this is a big mistake of those who do this," Putin said, commenting on the head of the BRICS New Development Bank Dilma Rousseff's remarks.
The new BRICS investment platform will provide support for national economies and investments, and the countries of the association will create mechanisms to resolve trade disputes, Russian President Vladimir Putin said on Wednesday.
"We propose to create a new BRICS investment platform that would become a powerful tool to support our national economies, as well as provide financial resources to the countries of the Global South and East," Putin said at an expanded meeting of the BRICS summit.
BRICS countries should step up technology, education and finance cooperation, the president added.
The launch of BRICS consultation mechanism on WTO issues will help develop common position on fairer rules for global economy, Putin said, addin that it is also necessary to launch a platform for fair competition of the BRICS countries.
‼️🇷🇺 PUTIN GOES TO BAT FOR GLOBAL SOUTH INTERESTS
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The initiative to create the BRICS "grain exchange" will help form fair indicators of global grain prices, he asserted.
"The implementation of this initiative will help [BRICS] protect national markets from negative external interference, speculation and attempts to create artificial food shortages," Putin said.
It is necessary to consider transforming the BRICS "grain exchange" into a full-fledged commodity exchange in the future, he added.
⚡JUST IN: 📊Global economy changing significantly, centers of activity shifting towards emerging markets – 🇷🇺President Putin
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The dollar is really being used as a weapon, this is a big mistake, Putin said. Russia does not abandon the dollar, but is forced to look for alternatives to it, the president added.
All BRICS partners are committed to continuing the formation of a more democratic world inclusive and multipolar international system, Putin elaborated.
The BRICS summit has adopted a final declaration that contains general assessments of the state of affairs in the world, as well as goals for the long term, as per Putin.
"We have prepared a final declaration, which contains general assessments of the state of affairs in the world, summarises the results of Russia's chairmanship of BRICS, and defines guidelines for long-term cooperation. I would like to note that we plan to distribute it to the UN as our common joint document," Putin concluded.
