In his message to African countries, Vladimir Putin also called for the development of what he called 'counter-commodity exchanges.' dollardominance africadebts
Vladimir Putin Says Russia Wrote Off African Countries' Debts Totaling Over $20 Billion in 2022
African countries’ debts totaling more than $20 billion were written off in the past year, Russian President Vladimir Putin said on March 20. Putin also revealed that trade between Russia and Africa had nearly reached $18 billion by the end of the year. According to the Russian leader, the majority of the world is opposed to the West’s “neo-colonial” ideology.According to Russian President Vladimir Putin, in 2022 Moscow wrote off debts of African countries that totaled over $20 billion.
“It is unlikely that such a figure can fully suit us, but we know that this is far from the limit,” Putin reportedly said. Besides bolstering direct trade between his country and the African continent, the Russian leader also spoke about his envisioned global financial system that is not dominated by the U.S. dollar. After Russia invaded Ukraine, Western countries responded by imposing sanctions on Moscow and cutting off the country from the global financial system.for an alternative to the dollar-dominated financial system, but has signed bilateral agreements with countries like China and India.
Concerning what he termed the Western countries’ “neo-colonial ideology,” Putin claimed that the majority of the world still “upholds moral norms and social principles traditional for our peoples” and is opposed to ideals that are imposed from outside.Tags in this story
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