Putin speaks at the VTB forum “Russia Calling!” – Kommersant

Russian President Vladimir Putin speaks at the VTB forum “Russia Calling!” At the beginning of his speech, he said that he would like to dwell on the tasks of the Russian economy in the field of finance and investment. The session will be moderated by First Deputy President and Chairman of the Board of VTB Bank Dmitry Pyanov.

“The entire global system of economic relations is going through a stage of fundamental and, as just said, irreversible changes. They are connected with the fact that the previous model of globalization is being replaced by a multipolar model,” the president said.

According to Mr. Putin, the actions of the West are destroying the system of financial, trade, and economic relations, “which has been built over decades.” “By the way, the financial infrastructure, which was based on dollars and euros, conducting payments exclusively through Western banks and the SWIFT system, is also discredited. Today, its place is successfully taken by the system of settlements in national currencies,” said the head of state. In his opinion, the Western financial system is becoming obsolete “from a technology point of view.”

VTB Forum “Russia Calling!” takes place December 7-8 at the World Trade Center. The main theme of the forum is “Life without globalization: uniting sovereign economies.” The forum has been held since 2009. It did not take place in 2022; in 2021 it was held online.