Russia believes that the principles of the global financial system should be reconsidered, since the current one allowed the "golden billion" on the planet to live at someone else's expense, Russian President Vladimir Putin said on Thursday at the summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in Astana.
"Like many of our partners in Asia, we believe that we need to revise the principles of the global financial system, which for decades allowed the self-proclaimed so-called golden billion, which closed all the flows of capital and technology, to largely live at someone else's expense," he said.
Moscow sees a more active use of national currencies in mutual settlements as the first step for it. "Such measures would undoubtedly help strengthen the financial sovereignty of our states, develop domestic capital markets, and deepen regional economic integration," Putin explained.
According to him, it is extremely important to continue to actively work on resolving emerging crisis situations and conflicts together with other regional forums and organizations, to improve cooperation in countering the terrorist threat, to identify and neutralize extremist groups, to prevent them from receiving funding, to fight drug trafficking, and to stifle the spread of radical ideas.
