Putin: the ugly neo-colonial system has ceased to exist

Russia has not turned to the path of self-isolation, the multipolar order is being strengthened in the world, while the neo-colonial international system no longer exists. This was stated by Russian President Vladimir Putin during his speech at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

“Despite all the difficulties of the past year, we have not turned onto the path of self-isolation. <...> This suggests that the inherently ugly neo-colonial international system has ceased to exist, while the multipolar world order, on the contrary, is strengthening. This is an inevitable process,” the head of state said.

Putin noted that Russia, on the contrary, has expanded contacts with “reliable and responsible partners” in other countries, which “today act as locomotives, drivers of the global economy.” He called them “markets of the future” and stressed that “everyone understands this very well.”

After the introduction of several packages of sanctions against the Russian Federation in May 2022, Putin declaredthat Russia cannot be “squeezed” out of the world economy. He added that those who seek to isolate Russia are hurting themselves.

In early June, Russian Finance Minister Anton Siluanov declaredthat Russia is still part of the world economy and “will not be closed off.” He added that in situations where countries refuse to cooperate with Russia, “nothing can be done.” Russia will develop trade and investment mutual activity with other states, the minister concluded.

Previously, Putin has repeatedly announced the formation of a fair world order to replace the “ideology of exclusivity” and the “neo-colonial system” supported by Western countries. In April he noted strengthening of the trend towards multipolarity in the world.