The president of Russia, Vladimir Putin, referred to the development of his country’s foreign policy and different current geopolitical issues that include Latin America and the Caribbean, during his annual press conference “Hotline with Putin”.
This event allowed Putin to respond to Russian and foreign journalists about Russia’s international relations, economic strengthening, the construction of a multipolar world, the situation in Palestine and the current condition of the dollar, among other matters of interest.
The dollar in Argentina
The Russian president expressed his opposition to the proposal to dollarize the Argentine economy proposed by his counterpart, Javier Milei, arguing that this measure would imply a loss of sovereignty.
In this sense, he pointed out inflation in Argentina, which has reached 160.9% annually in November 2023, and highlighted the complexity associated with the payment of loans received by the country.
“There are numerous problems – previous leaders have already told me, related to the payment of credits that Argentina has been receiving from various sources. So the logic is clear. But this, of course, is a significant loss of sovereignty national”, Putin said.
The leader of the Eurasian country reported that the share of the ruble in Russian foreign trade has increased to 40%, while that of the dollar has decreased to 24%, a fact of great relevance for Moscow’s economy.
Putin stressed that increasing the use of national currencies in international trade will strengthen the country’s sovereignty and expand its possibilities. According to his statements, the stability of the financial market in Russia is strong.
“We are not abandoning (the dollar). It is the West that has started to create problems for us with sell-offs. By the way, they are also shooting themselves in the foot again. Why are they reducing the possibilities of the dollar and the euro as currencies reserves in the world?” he warned.
BRICS and the new world order
Russia, during its presidency of the BRICS economic bloc in 2024, will focus on promoting a just world order, said the Russian head of state, who highlighted the role of the group also made up of Brazil, India, China and South Africa, in the current context.
Likewise, he anticipated that the BRICS summit, scheduled in Kazan, will demonstrate the countries’ willingness not to follow a “rules-based order” and will seek to create conditions for joint and effective development.
Regarding the situation in Palestine, Putin expressed his concern about Israel’s continued attacks on the territory of Gaza, and urged a ceasefire in the Palestinian enclave.
Likewise, Putin called on Turkish President Recep Tayyip Erdogan, urging him to intervene to improve the situation in Gaza, calling the occupation of Palestine a “catastrophe”.
Russian economy and international relations
The Russian president highlighted the economic growth of his country despite Western pressures and blockades. In addition, he highlighted the increase in minimum income for Russian citizens in the next quarter as an achievement of his management.
“The Russian economy has a sufficient margin of safety to not only feel safe, but also move forward”, specified the President of the Russian Federation.
The head of state also reiterated the approach regarding the possibility that the Nord Stream gas pipelines were destroyed by the United States or “at its suggestion”. He also stated that the cancellation of gas supply projects between Europe and Russia was the responsibility of European countries, not Russia.
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Kremlin spokesman Dmitri Peskov reported that a record of more than a million questions were received this year for Putin’s hotline and press conference.