In a recent address at the virtual summit of the Shanghai Cooperation Organisation (SCO) Heads of State Council, Russia's President Vladimir Putin voiced concerns about the mounting risks of a new global economic and financial crisis. He attributed these risks to the uncontrolled accumulation of debt by developed nations. Furthermore, Putin raised the issue of Russia being subjected to a hybrid war, where he denounced the unprecedented scale of anti-Russian sanctions imposed upon the country.
During the summit, which was attended by Chinese President Xi Jinping, Putin not only called for an increased utilization of national currencies in trade settlements but also expressed the SCO's commitment to establishing a just and multipolar world order based on international law and mutual respect among sovereign states. The Russian leader emphasized the importance of addressing the current geopolitical discord, the continuous degradation of the international security system, and the growing risks of a global economic and financial crisis.
Putin drew attention to the multifaceted challenges faced by the international community, including the uncontrolled accumulation of debt by developed nations, the widening social divide, and the rise in global poverty. He also highlighted the deteriorating conditions in terms of food and environmental security. Stressing the interconnectedness of these issues, Putin cautioned that their combined impact could significantly escalate conflict potential. Russia, he stated, is currently grappling with these challenges.
Expanding on the external forces exerted near Russia's borders, Putin explained their efforts to transform Ukraine into a de facto hostile state, employing a strategy aimed at undermining Russia's security and hindering its development. He criticized the eight-year-long weapon influx, aggression against the peaceful population of Donbass, and the promotion of neo-Nazi ideology in Ukraine.
Putin concluded by asserting that Russia is currently enduring a hybrid war, characterized by the imposition of unprecedented anti-Russian sanctions. The Russian president's remarks underscore the gravity of the economic risks faced by the global community and the challenges Russia confronts in the geopolitical landscape, emphasizing the urgent need for international cooperation and adherence to international law to address these complex issues.
