Key Takeaways
- Putin advocates for reforms in the UN and IMF to better reflect modern realities and ensure broader representation for the developing world.
- The reforms aim to make the Security Council more democratic and end the use of finance as an instrument of neo-colonialism.
- The reforms will promote progress for the benefit of all humanity and ensure broader representation for the developing world.
Moscow/Beijing: Russian President Vladmir Putin, ahead of the upcoming SCO summit in the Chinese city of Tianjin, lauded Moscow-Beijing ties across all sectors including finance, culture, education, sports, politics, while reiterating both nations’ continued advocacy for reforms in the UN, and other global entities such as the World Bank and IMF to better reflect modern political realities and ensure broader representation for the developing world.
“Russia and China support reform of the UN so that it fully restores its authority and reflects modern realities. In particular, we advocate for making the Security Council more democratic by including states from Asia, Africa, and Latin America,” Putin said in a handwritten interview to the Chinese media agency Xinhua, one day ahead of his visit to the county, reports state media TASS.
“Alongside our Chinese partners, we support the reform of the International Monetary Fund and the World Bank,” he added.
“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,” the Russian leader stressed.
Putin also noted close cooperation between Moscow and Beijing within the G20, BRICS and APEC.
Commenting on bilateral trade, he noted that the mutual trade in the Yuan and Ruble, had left the Euro and the USD as more of a “statistical discrepancy” than anything else, while confirming a joint initiative to launch a major gas route in 2027 under the moniker of ‘Far Eastern Route’.
