Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»News»World News»Xi And Putin Slam Politically Motivated’ Western Sanctions Against Russia

    Xi And Putin Slam Politically Motivated’ Western Sanctions Against Russia

    World News By Ifeanyi N.Jun 23, 2022No Comments4 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    Chinese President Xi Jinping on June 22 hit out at the US and European Union for imposing sanctions against Russia, saying the act of wilfully imposing curbs will harm people around the world. 

    Russian President Vladimir Putin
    Russian President Vladimir Putin

    Meanwhile, Russian President Vladimir Putin said the “politically motivated” Western sanctions on his country have caused global economic challenges like decrease in business activity and a spike in unemployment.

    In his address to a business conference of the BRICS hosted by Chinese President Xi Jinping, Putin also said that Russia was in the process of rerouting its trade and oil exports towards countries from the grouping which comprises Brazil, Russia, India, China and South Africa.

    “New politically motivated sanctions are imposed again and again, the mechanisms of putting pressure on competition are being reinforced,” he was quoted as saying by the state-run TASS news agency.

    “A deliberate breakdown of cooperation ties is taking place, transport and logistics chains are collapsing,” he said. “All this is contrary to common sense and elementary economic logic, is to the detriment of the interests of business on a global scale, and negatively affects the well-being of the population, essentially, of all countries.” “As a result, problems in the global economy are becoming chronic,” he said.

    “There is a decrease in business activity, an increase in unemployment, a shortage of raw materials and components, difficulties in ensuring global food security are being exacerbated, prices for grain crops and other basic agricultural products are driven up,” Putin said without referring to Russia’s invasion of Ukraine.

    See also  Actor Matthew McConaughey Won't Run For Governor Of Texas Next Year

    Putin ordered a “special military operation” against Ukraine on February 24. The US-led Western nations have imposed crippling sanctions on Russia for its invasion of Ukraine.

    Ukraine is one of the world’s top grain producers along with Russia, but has been unable to export to global markets because of a blockade of its Black Sea ports.

    The BRICS countries, Putin said, are developing business in difficult conditions.

    “Entrepreneurs in our countries are having to build their business in difficult conditions when Western partners neglect the basic principles of a market economy, free trade, the inviolability of private property, pursue an essentially irresponsible macroeconomic course, including the launch of a printing press, uncontrolled emission and the accumulation of unsecured debts,” he said.

    Noting that despite all problems and difficulties, BRICS businesses have been “consistently enhancing mutually beneficial ties in the areas of trade, finance, and investment”, Putin said that in the first three months of 2022, trade between Russia and the BRICS countries increased by 38 per cent – and reached USD 45 billion.

    See also  Fifa Official Cleared Of Corruption

    “Contacts between Russian business circles and the business community of the BRICS countries have intensified. For example, negotiations are underway to open Indian chain stores in Russia, increase the share of Chinese cars, equipment, and hardware on our market. In turn, Russia’s presence in the BRICS countries is growing. There has been a noticeable increase in the exports of Russian oil to China and India,” he said.

    Putin also said that the Russian financial messaging system is open to connecting banks from the BRICS countries.

    “Together with BRICS partners, we are developing reliable alternative mechanisms for international settlements. The Russian Financial Messaging System is open to connection with the banks of the BRICS countries. The Russian MIR payment system is expanding its presence. We are exploring the possibility of creating an international reserve currency based on the basket of BRICS currencies,” the Russian leader said.

    “I would like to stress that the Russian strategy does not change: while strengthening our economic, technological and scientific potential, we are ready to openly work with all fair partners on principles of respect to interests of each other, unconditional supremacy of international law, and equality of countries and peoples,” he stressed.

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    China Putin russia Xi Jinping
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    US will act to protect if China threatens its sovereignty, says Biden

    Feb 8, 2023

    US State Senate unanimously passes resolution honouring Sikh community

    Feb 6, 2023

    Pakistan PM Sharif reiterates diplomatic, and moral support to Kashmiris

    Feb 5, 2023

    From China to big sky: The balloon that unnerved the White House

    Feb 4, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Get Social with Us
    • Facebook
    • Twitter 6.5K
    • Pinterest 93
    • Instagram
    • YouTube
    Latest Posts

    It’s Painful To See How Easily Violence Is Provoked Nowadays – Pope Francis

    Feb 8, 2023

    Arsenal Failed To Beat Monaco To Mbappe’s Signature – Gilles Grimandi

    Feb 8, 2023

    My Husband Forced Me To Laugh At His Dry Jokes Before Travelling – Mercy Aigbe

    Feb 8, 2023

    Declan Rice Will Be Worth Every Penny Wherever He Ends Up – Mark Noble

    Feb 8, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    Chelsea Is Family – Hazard

    Jun 18, 2017

    20-Year-Old Ritual Killer Accused in Oyo, Arrested by Ogun Policemen

    Nov 6, 2020

    FG to partner Ebonyi State on 2,000 megawatt power plant construction

    Mar 14, 2014

    Journalism Is Not A Profession To Make A Decent Liviing – Yemi Osibanjo

    Dec 19, 2017

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?