https://sputniknews.in/20250318/putin-casts-doubt-on-g7s-greatness-says-western-dominance-fading-away-8874198.html
Putin Casts Doubt on G7's 'Greatness', Says Western Dominance Fading Away
Putin Casts Doubt on G7's 'Greatness', Says Western Dominance Fading Away
Sputnik India
MOSCOW (Sputnik) - The fading away of the Western dominance and the emergence of new growth centers is a long-term trend, Russian President Vladimir Putin said... 18.03.2025, Sputnik India
2025-03-18T18:37+0530
2025-03-18T18:37+0530
2025-03-18T19:18+0530
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vladimir putin
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"The fading away of Western dominance, so to speak, and the emergence of new global growth centers is a long-term trend. That is what I want to emphasise," Putin said during a plenary session of the Russian Union of Industrialists and Entrepreneurs Congress.It is unclear why people refer to the G7 as "great," Putin said.Meanwhile, Russia is strengthening its sovereignty in all directions, President Putin stated."Russia is strengthening its own sovereignty, and in all areas that ensure business operations, including the development of transport, logistics, financial and payment infrastructure. We are doing this, we are doing it now and we will definitely continue to do so," Putin said during a plenary session of the congress of the Russian Union of Industrialists and Entrepreneurs."We see that most European countries have lost their sovereignty and as a result they are facing serious problems both in the economy and in the security sphere. As for the economy, all of them have near-zero growth rates or are even entering recession," Putin said.Further, he referred to intensified global competition has intensified, noting that a new spiral of economic rivalry is currently unfolding worldwide.It is no longer worth counting on complete freedom of payments and capital flows in the world, Putin also said."It is obvious, and I have said this more than once: things will not be as they were before. It is not worth counting on complete freedom of trade, payments and capital flows, just as one should not rely on Western mechanisms for protecting the rights of investors and entrepreneurs," Putin said.
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vladimir putin, russia, economics, russian economy, business, western sanctions, collective west
vladimir putin, russia, economics, russian economy, business, western sanctions, collective west
Putin Casts Doubt on G7's 'Greatness', Says Western Dominance Fading Away
18:37 18.03.2025 (Updated: 19:18 18.03.2025) MOSCOW (Sputnik) - The fading away of the Western dominance and the emergence of new growth centers is a long-term trend, Russian President Vladimir Putin said on Tuesday.
"The fading away of Western dominance, so to speak, and the emergence of new global growth centers is a long-term trend. That is what I want to emphasise," Putin said during a plenary session of the Russian Union of Industrialists and Entrepreneurs Congress.
It is unclear why people refer to the G7 as "great," Putin said.
"Let me remind you that in 2024, the GDP growth of the Eurozone amounted to 0.9%, the G7. Why it is big is unclear. Wherever you look, you cannot see it on the map," Putin said.
Meanwhile, Russia is strengthening its sovereignty in all directions, President Putin stated.
"Russia is strengthening its own sovereignty, and in all areas that ensure business operations, including the development of transport, logistics, financial and payment infrastructure. We are doing this, we are doing it now and we will definitely continue to do so," Putin said during a plenary session of the congress of the Russian Union of Industrialists and Entrepreneurs.
Only countries that can ensure their full sovereignty are capable of sustainable development, the president added.
"We see that most European countries have lost their sovereignty and as a result they are facing serious problems both in the economy and in the security sphere. As for the economy, all of them have near-zero growth rates or are even entering recession," Putin said.
Further, he referred to intensified global competition has intensified, noting that a new spiral of economic rivalry is currently unfolding worldwide.
"Global competition has intensified and is becoming increasingly sophisticated and at the same time irreconcilable. Thus, a new spiral of economic rivalry is unfolding literally before our eyes," Putin said at a plenary session of the congress of the Russian Union of Industrialists and Entrepreneurs.
It is no longer worth counting on complete freedom of payments and capital flows in the world, Putin also said.
"It is obvious, and I have said this more than once: things will not be as they were before. It is not worth counting on complete freedom of trade, payments and capital flows, just as one should not rely on Western mechanisms for protecting the rights of investors and entrepreneurs," Putin said.
