Russian President Vladimir Putin has said Moscow and Beijing are working together to strengthen multilateral platforms like BRICS, describing their cooperation as a push against discriminatory sanctions and for reforms in global financial institutions.

In an interview with China’s Xinhua News Agency, ahead of the Shanghai Cooperation Organisation (SCO) summit in Tianjin, Putin stressed that Russia and China are “united in strengthening BRICS’ ability to address global challenges” and promoting inclusive economic growth.

Opposition to Sanctions and “Neo-Colonialism”

Putin criticised the use of financial systems as instruments of pressure, calling them a form of “neo-colonialism” that undermines the development of nations. He said BRICS seeks to build a “new financial system” based on openness, fairness, and equal access for all countries.

“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. On the contrary, we seek progress for the benefit of all humanity,” he said.

Financial Reforms and Global South Focus

The Russian leader reiterated support for reforming institutions like the International Monetary Fund (IMF) and World Bank to better reflect the real economic standing of emerging nations. He noted that Russia and China are working to create common platforms for partnership in key strategic sectors.

Putin also praised China’s role within the G20, highlighting how, alongside other like-minded nations, the group’s agenda has been shifted toward the concerns of the Global South. He welcomed the African Union’s inclusion in the G20, describing it as a step toward deepening ties between BRICS and other global platforms.

Participation in SCO Summit

Putin is in China to attend the 25th SCO Heads of State Council summit, where he is expected to hold bilateral talks with Indian Prime Minister Narendra Modi on the sidelines.

Source: ANI | Image Source: Google | Image Credit: Respective Owner