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Putin announces at BRICS Summit: The era of liberal globalization is over
2025-07-06 21:31:19 / BOTA
Russian President Vladimir Putin declared that the era of liberal globalization is over and that the future belongs to rapidly developing economies. In a speech to the leaders of the BRICS countries, he stressed the need to strengthen the use of national currencies in trade transactions between these countries.
Putin spoke at the BRICS Summit being held in Rio de Janeiro via video conference, as he could not travel due to an international arrest warrant issued by the International Criminal Court, where he is accused of war crimes in Ukraine.
"All indicators point to the fact that the model of liberal globalization is becoming obsolete. The center of economic activity is shifting towards emerging markets," Putin said.
He called on BRICS member countries to increase cooperation in areas such as natural resources, supply chains and the financial sector, considering this as the path towards a new world economic architecture that is no longer dependent on the Western system.
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