Vladimir Putin slams ‘continuous’ US sanctions, says other country ‘can’t stop Chinese development’ | 10 points | Today News
On Friday, Russian President Vladimir Putin criticized the United States for escalating tensions in Asia, which he claimed posed risks to both Russia and its neighbor, China.
"The United States has damaged its relationship with Russia through ongoing sanctions, which have had adverse effects. Countries worldwide are questioning the value of the Dollar, and even the US's long-standing allies are scaling back their Dollar reserves. The US is about 15 years behind and will struggle to halt China's progress," he stated.
On Friday, Putin expressed that introducing a common currency for the BRICS nations is currently too soon, as it would necessitate a significant level of collaboration among the member states. He suggested that the countries should proceed in a 'gradual' manner and mentioned that Russia aims to enhance the newly established BRICS bank.
The Russian leader is eager to strengthen BRICS, which has grown to incorporate Egypt, Ethiopia, Iran, and the United Arab Emirates, alongside Brazil, Russia, India, China, and South Africa. He sees it as a significant alternative to Western influence in global politics and trade.
Putin expressed that BRICS is not opposed to the West, but rather it exists independently of it.
He stated that BRICS is open to welcoming new members and noted that countries outside the group will experience economic advantages as the organization grows.
In response to a question regarding when the conflict with Ukraine might conclude, he mentioned that determining an exact date would be difficult and could actually be harmful, according to PTI.
On Thursday, the United States revealed new penalties targeting several organizations from Russia and China involved in the development, design, and supply of attack drones that are reportedly being used in the conflict in Ukraine, according to ANI.
The US has imposed sanctions on two Chinese firms: Redlepus Vector Industry Shenzhen Co. Ltd. and Xiamen Limbach Aircraft Engine Co. Ltd. Additionally, the sanctions extend to TSK Vektor and its General Director, Artem Mikhailovich Yamshchikov.
The actions taken today are part of our ongoing initiative to counter the efforts of individuals and organizations from China and Russia that aim to assist Russia in obtaining advanced weapon technology and components. We will keep taking measures against anyone who supports Russia's military manufacturing capabilities, according to a senior US official as reported.
"They play a role in manufacturing and delivering products clearly linked to Russia's conflict with Ukraine, and these items are going straight to a group that the West has already recognized and imposed sanctions on for its connections to the Russian military and industrial sector," the official continued.
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October 18, 2024, 7:50 PM IST
**Business Updates:** Vladimir Putin criticizes the ongoing sanctions imposed by the United States, asserting that no nation has the ability to hinder China's progress. Here are 10 key points:
