West Undermines Very Basis Of World Economic Order - Putin

VLADIVOSTOK (UrduPoint News / Sputnik - 07th September, 2022) Western countries have undermined the foundations of the global economic order, and there is no more confidence in the US dollar, euro or UK pound, Russian President Vladimir Putin said on Wednesday.

"In an attempt to counter the course of history, Western countries have undermined the key pillars of the global economic system, which has been built up for centuries. We see how confidence in the dollar, euro and pound sterling as currencies to carry out payments, store reserves, nominate assets has been lost," Putin said at a plenary session of the Eastern Economic Forum (EEF) in Vladivostok.

The world is gradually moving away from using such unreliable, compromised currencies, the president said, adding that even US allies are cutting their Dollar assets.

The 7th EEF is held from September 5-8 in the Russian port city of Vladivostok, on the Far Eastern Federal University campus. The Sputnik news agency is an information partner of the forum.