Russia’s Putin denounces financial ‘neo-colonialism’ on eve of China visit
Summary
Russian President Vladimir Putin criticized Western sanctions and the global financial system, calling them unfair, in an interview before his visit to China. During this visit, he will talk with Chinese President Xi Jinping and attend events celebrating the end of World War II. Putin emphasized Russia and China's shared goals for creating an open and fair financial system.Key Facts
- Putin condemned Western sanctions, which he says harm Russia's economy.
- These comments came in an interview with China's Xinhua news agency.
- Putin is visiting China for talks with President Xi Jinping and to attend World War II commemorative events.
- He calls for reforming the International Monetary Fund (IMF) and the World Bank for more fairness.
- Russia considers China its biggest trading partner, with major transactions in Russian roubles and Chinese yuan.
- The visit includes a summit of the Shanghai Cooperation Organisation (SCO) in Tianjin, China.
- Western nations stopped trade with Russia after its invasion of Ukraine, and China bolstered economic ties with Russia.
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