Putin: Russia Being Deliberately Obstructed in World Market by Unlawful Western Sanctions

Russia is being deliberately obstructed in the world market by the unlawful Western sanctions and at the same time being blamed for the global food crisis, Putin said on Tuesday. Although the unlawful sanctions imposed by the West have been hindering the Russian economy, it has been developing, the president stressed.

The de-dollarization process among BRICS members is irreversible, and the share of the US dollar in trade is decreasing, the head of state emphasized.

"The objective, irreversible process of de-dollarization of our economic ties is gaining momentum, efforts are being made to develop effective mechanisms for mutual settlements and monetary and financial control. As a result, the share of the dollar in export-import transactions within the BRICS is declining: last year it amounted to only 28.7%," Putin stated.

Talks Between Russia, African Partners on Supply of Grain for Free Almost Over

Negotiations between Russia and its partners from Africa regarding the supply of grain free of charge are almost over, the president stressed.

In addition, Putin also mentioned that Russia is and "will remain a reliable supplier" of food to the African continent.

"I have repeatedly said that our country is able to replace Ukrainian grain both on a commercial basis and in the form of gratuitous assistance to countries in need, especially since we again expect an excellent harvest this year. As a first step, we have decided to send 25,000-50,000 tons of grain to six African countries free of charge, including free delivery of these goods. Negotiations with partners are coming to an end," the president clarified.

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Russia Ready to Return to Grain Deal if Obligations Fulfilled

Moreover, Russia is ready to return to the Black Sea Grain Initiative if all obligations towards Moscow are fulfilled, Putin emphasized.

“Taking into account the facts mentioned above [failure to fulfill obligations under the grain deal], since July 18, we have refused to further extend this so-called deal and will be ready to return to it, but only if all obligations to the Russian side are actually fulfilled,” the president said.

Russia Stands for BRICS Interaction on Food Supply

At the same time, Russia supports closer cooperation among BRICS members on the issues of reliably food and energy supplies to the global markets, the head of state noted.

"Russia is in favor of establishing closer cooperation within the framework of the BRICS on the issues of reliable and uninterrupted supply of world markets with energy and food resources," Putin highlighted.

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Russia Ready to Work With BRICS to Promote Balanced Climate Agenda

The president added that Russia is ready to work together with other BRICS members to promote balanced approaches to the climate issues on the international stage.

The head of state mentioned that countries should interact on the issues of support for small and medium enterprises, assistance in matters of administrative and tax regulation, digitalization, e-commerce, among others.

"It is equally important to continue developing cooperation within the BRICS in the field of decarbonizing the economy, reducing the anthropogenic impact on nature, and adapting to climate change. Russia is ready to work together to promote more balanced approaches to climate change in the international arena," Putin specified.

The president pointed out that Russia plans to achieve carbon neutrality no later than 2060, including "through the introduction of technological innovations, upgrading infrastructure for access to affordable and clean energy, preserving ecosystems."

BRICS Cooperation Based on Equality, Partnership

The cooperation among BRICS members is based on equality and support among partners, Putin stressed, adding that Russia’s trade with other BRICS members has exceeded over $230 billion.

"The main thing is that we cooperate on the principles of equality, partnership support, respect for each other's interests, and this is the essence of the future-oriented strategic course of our association, a course that meets the aspirations of the main part of the world community, the so-called global majority," the president noted, adding that Russia’s trade with BRICS partners has reached "record" amount of over $230 billion.

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Putin also invited partners to the Eastern Economic Forum that will take place on September 10–13 in Vladivostok.

BRICS Needs to Solve Difficult Issues Due to Market Volatility

Meanwhile, the BRICS countries have to solve complex and difficult issues due to market volatility, inflation pressure, and irresponsible actions of some countries, the head of state mentioned.

Putin noted that goals of BRICS include ensuring post-pandemic economic recovery of member states, improving the welfare of citizens, modernizing industry, building efficient transport and logistics chains, and stimulating fair technology transfer.

"All these difficult, complex tasks have to be solved amid ever-deepening volatility in the stock, currency, energy, and food markets, significant inflation pressure, caused, among other things, by irresponsible actions of a number of countries that carried out large-scale emissions to smooth out the costs of the pandemic, which results in the accumulation of private and public debt," the president explained.

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Russia to Refocus Transport, Logistics Flows to Reliable Partners

In addition, Russia is actively refocusing its transport and logistics flows to reliable partners, including among members of the BRICS group, the head of state highlighted.

"For our part, Russia is actively refocusing transport and logistics flows to reliable foreign partners, including from the BRICS countries," Putin stated.

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