Putin: US Policies Will Backfire, Russia to Expand Relations With Countries in Eurasia, Africa, Latin America – Economics Bitcoin News


Russia’s president, Vladimir Putin, has slammed the actions of the elites in the U.S. and Europe, stating that they do not always act in the best interest of their own people. “It will backfire on them,” he said. Putin also called for a cohesive response to the West’s economic aggression, emphasizing that Russia will strengthen its partnerships with friendly nations and collaborate with foreign partners.

Putin Plans to Expand Partnerships With Friendly Countries

Russian President Vladimir Putin slammed policies in the U.S. and Europe while calling for a cohesive response to the West’s economic aggression at a meeting with the Council of Legislators on Friday, Russian news outlet Tass reported.

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“We are not going to isolate ourselves. On the contrary, we will expand pragmatic, equitable, mutually beneficial relations that are nothing less than partnerships with friendly countries in Eurasia, Africa, Latin America,” Putin said, adding:

In the United States, by the way, we have a lot of people that think along the same lines as we do. Same with Europe. The elites behave differently. But we know that the elites in these countries are far from always conducting the policies that benefit the interest of their own people. It will backfire on them.

The Russian president also expressed his government’s willingness to collaborate with foreign partners, including global companies and corporations that “value their business reputation and want to cooperate with Russia.”

Putin further stressed: “Amid the West’s economic aggression, the parliament, the government, and all regional and local authorities must act clearly and quickly and work as one cohesive, well-coordinated team.”

Following the onset of the Russia-Ukraine war, Western countries imposed aggressive sanctions on Russia. Moreover, the U.S. and its Western allies have seized over $300 billion in Russian central bank foreign currency assets frozen by sanctions.

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The economic sanctions and the weaponization of the U.S. dollar have led a growing number of countries to de-dollarize and settle trade in non-USD currencies. The BRICS nations are also working to create a common currency. This week, the deputy chairman of Russia’s Security Council, Dmitry Medvedev, urged all countries to make efforts to ensure that the “threat of global confrontation, of a hot, full-scale World War III” does not materialize. “World tensions are white-hot indeed,” he warned.

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Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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