"It is essential to end the use of finance as an instrument of neo-colonialism, which runs counter to the interests of the Global Majority, Putin said, according to the full transcript of his interview published by Xinhua. Alongside our Chinese partners, we support the reform of the International Monetary Fund and the World Bank. We are united in the view that a new financial system must be based on openness and true equity, Putin said in his interview, which overflowed with praise for China."
"A new financial system would provide equal and non-discriminatory access to its tools for all countries and reflecting the real standing of member states in the global economy, Putin said. I am confident that Russia and China will continue to work together towards this noble goal, aligning our efforts to ensure the prosperity of our great nations, he added."
Russia denounces discriminatory Western sanctions and an unfair global financial system as its economy nears recession, strained by trade restrictions and war-related costs. Russia calls to end the use of finance as an instrument of neo-colonialism that harms the Global Majority and supports reform of the International Monetary Fund and the World Bank alongside China. A proposed new financial system would be based on openness, true equity, and equal, non-discriminatory access to financial tools reflecting members' real economic standing. A four-day Russian visit to China will include the Shanghai Cooperation Organisation summit in Tianjin and a World War II surrender commemoration parade.
Read at www.aljazeera.com
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