Trying to distribute responsibilities, not creating anti-West bloc: Putin
June 20, 2015, 5:19 am

Russian President Vladimir Putin and CBS presenter Charlie Rose at the plenary session of the 19th St Petersburg International Economic Forum on 19 June 2015 [PPIO]

“Although Nato keeps expanding, we (China and Russia) are not creating any military blocs or alliances against anybody…We are in the process of building an alliance to safeguard our national interests,” Putin said.

“We do not want to adopt a bloc-based approach. What we are trying to do is to adopt a global approach. We are trying to distribute responsibilities,” Putin said in response to a question about growing Russia-China ties.

Speaking at a plenary meeting at the ongoing Saint Petersburg International Economic Forum, Putin said it is “natural” for Russia to cooperate with its neighboring countries, in particular China.

“Chinese economy is growing at a pace of seven per cent, the highest rate in the world,” Putin said, adding that the whole world, including Europe, is looking for possibilities to develop relations with Asian countries like China.

China is the biggest foreign trade partner of Russia, and Moscow looks forward to doubling the trade turnover in the near future to $200 billion a year, Putin said.

Noting that the Chinese currency, yuan, has been getting stronger and stronger, Putin called to provide free capital flows between the two countries and gradually introduce mutual accounting in each other’s national currencies.

China is promoting usage of the yuan in global commercial and financial transactions, with the ultimate goal of rivaling the dollar as a reserve currency.

Meanwhile, Putin stressed that Russia and China are connected not only by Russia’s energy resources, but also China’s financial capabilities.

He pointed out that the two countries “jointly and efficiently” defend “certain values” in the international arena.

“We have been doing our utmost, and, as far as I am concerned, with success, to think globally, to share responsibility and to make mutually acceptable solutions and compromises,” Putin said.

TBP and Agencies