Putin Stresses Accelerating De-Dollarization and Multipolar World Order at BRICS Summit
Russian President Vladimir Putin, addressing the BRICS summit, emphasized the escalating momentum of a balanced, irreversible de-dollarization process in economic relations.
He underlined the opposition to all forms of hegemony and exceptional status, highlighting concerns about continued neo-colonialism. Putin commended BRICS nations’ growing potential, with a collective population exceeding 3 billion and a substantial share in global GDP. He mentioned a doubling of BRICS countries’ investments in the global economy over a decade and a rise in total exports to 20 percent of the global total.
Additionally, Putin stressed the importance of diversifying supply chains, transitioning to national currencies, and fostering cooperation in various sectors, in alignment with the BRICS Strategy. He reaffirmed the commitment to a multipolar world order based on international law, sovereignty, and respect for each nation’s development model, emphasizing the decline of the dollar’s role in BRICS trade to 28.7% last year.
Clever Robot News Desk 25th August 2023