Moscow [Russia], October 18 : Russian President Vladimir Putin on Friday lambasted the US for its increasing use of sanctions as a geopolitical tool against Moscow and said that America spoilt its relationship with Russia by imposing continuous sanctions.
has expressed his thoughts on Moscow's relationships with the United States and China, emphasising the consequences of imposing continuous sanctions.
Speaking to senior journalists from BRICS countries on Friday, Putin noted, "As far as the relationship between the United States and China is concerned, we do not need to cross borders; we do not need to use seas; we have a common border. As for energy from Russia, it is limitless."
He further emphasised that the US has spoiled its relationship with Russia through sanctions, which ultimately harm America's interests. "I think the United States needs to give it a thought. They have spoiled the relationship with Russia by imposing continuous sanctions and it has a negative impact eventually on them."
Since the Russia-Ukraine war started in February 2022, the US, UK and EU, along with countries including Australia, Canada and Japan, have imposed more than 16,500 sanctions on Russia.
Putin also pointed out that the world is reevaluating the value of the US dollar due to its restricted use as a universal currency for political reasons. "So the entire world is thinking whether the dollar is worth using considering that the United States for political reasons, restricts the use of their currency as a universal currency, international units of payment. Now everyone is doubting this and the volume of dollars is reducing both in settlements and in reserves too."
Regarding China, Putin believes that the US is attempting to slow down China's booming economy through politically driven sanctions. "One sanction follows another. It is not related to politics. It is because the Chinese economy is booming and also because of an attempt to decelerate this growth by imposing various politically driven sanctions."
However, he thinks this effort is futile and stated that stopping Chinese development is "an impossible task" and comparing it to trying to halt the sun from rising. "The United States is late, some 15 years. I mean, they will not be able to stop the Chinese development. It's like saying to the sun, Do not rise. It will rise. There are objective economic processes."
Russia holds the presidency of BRICS (Brazil, Russia, India, China, and South Africa) this year. Russian President Vladimir Putin is hosting the upcoming summit in Kazan from October 22-24, 16th BRICS Summit.
PM Modi will visit Russia from October 22-23 to attend the BRICS Summit at the invitation of Putin.
BRICS, as a formal grouping, started after the meeting of the Leaders of Russia, India and China in St. Petersburg on the margins of the G8 Outreach Summit in 2006.
The grouping was formalised during the first meeting of BRIC Foreign Ministers on the margins of UNGA in New York in 2006.
The 1st BRIC Summit was held in Yekaterinburg, Russia, in 2009. South Africa was added at the BRIC Foreign Ministers' meeting in New York in 2010.