In a virtual speech addressed to the Shanghai Cooperation Organisation (SCO) Heads of State Council, Russian President Vladimir Putin emphasised the organisation’s commitment to establishing a multipolar world order. He highlighted the necessity of member states sharing their perspectives on global politics, security, and socio-economic issues.
Multipolar World Order
Participating in the SCO leaders’ summit hosted by Indian PM Narendra Modi, being held in virtual mode, Putin underlined that the multipolar world order would be based on international law and common principles of cooperation between sovereign states, with the UN serving as the primary coordinator.
Putin stated that it is critical for Russia “that all participants of the organisation share the same assessment of the situation in global politics and security, and in the social and economic spheres.”
The Russian President indicated that the SCO’s practical work is being built on a constructive foundation, with the organisation playing an increasingly important role in international affairs, contributing to the maintenance of peace and stability, ensuring the provision of sustainable economic growth to its member states, and strengthening international ties.
🇮🇳🇷🇺 President Putin’s Full Address At The 23rd SCO Summit Hosted By India. pic.twitter.com/syOwav7Zug
— Paul Kikos 🌐 (@PKikos) July 4, 2023
Ukraine a ‘De Facto’ Hostile State
The Russian President addressed the worsening geopolitical situation and deteriorating international security system, outlining the risks of a new global economic and financial crisis emerging against the backdrop of developed countries’ uncontrolled debt accumulation.
Putin also recognised the global social divide, poverty growth, and food and environmental security deterioration. “Russia is experiencing all of this right now,” asserted the president.
He acknowledged Russia’s current issues, citing the external forces that created a ‘de facto’ hostile state on its borders through prolonged aggression in Ukraine. To this end, he denounced the influx of weaponry, an attack against the peaceful Donbass population, and the rise of neo-Nazi ideology.
Putin indicated that these actions were intended to jeopardise Russia’s security and obstruct its growth. Furthermore, he stressed that Russia is in a hybrid war with unprecedented anti-Russian sanctions.
Putin welcomes Iran’s accession to full membership in SCO in organization’s virtual summit. It is noted that in less than two years, Iran completed all the necessary procedures:https://t.co/jJIntmmpQn pic.twitter.com/s5eKoummcf
— TASS (@tassagency_en) July 4, 2023
Russia, China Settling Transactions in Rubles, Yuan
Putin explained the diverse uses of national currencies for mutual settlements. He emphasised how over 80% of economic transactions between Russia and China are now made in rubles and yuan. He further mentioned that the Russian national currency’s share of export transactions with the SCO nations exceeded 40% in 2022.
Additionally, Putin emphasised Russia’s commitment to improving ties with SCO member nations, highlighting the growing diversity and robustness of these ties. He also declared that trade between Russia and SCO members reached a new high of $263 billion, a 37% increase.
🇷🇺 President #Putin: Russia's trade with #SCO member states has increased by 37%, reaching a record high of $263 billion last year.
— Russia in RSA 🇷🇺 (@EmbassyofRussia) July 4, 2023
We're using national currencies for mutual settlements. Over 80% of commercial transactions between #Russia and #China are made in rubles and yuan. pic.twitter.com/tzDpVJlORO
Welcoming Iran’s Membership
The Russian President, like Summit Chair Indian PM Narendra Modi, welcomed Iran’s accession to the SCO, emphasising the necessity of aiding Tehran in adjusting to the alliance’s processes.
“The Islamic Republic of Iran will now participate in our organisation in a full-fledged format. I would like to extend congratulations on this occasion to the President of Iran, Mr Ebrahim Raisi, and sincere greetings to him,” Putin remarked.
“In less than two years, our Iranian partners completed all the necessary procedures, and now our shared task is to help our colleagues to productively join in the multifaceted activities taking place within the framework of the SCO.”
Support for Belarus’ Membership
Putin encouraged Belarus’ membership, stating, “Russia is also in favour of early completion of the SCO membership procedures for the Republic of Belarus. We are confident that the membership of Belarus, which is Russia’s strategic partner and closest ally, will have a positive impact on the association’s activity.”