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West abuses its exclusive position in global finances — Putin

"Inflation started across the globe in general," the Russian president pointed out

KAZAN, October 24. /TASS/. The Western countries abused their exclusive position in global finances, Russian President Vladimir Putin said at the press conference in conclusion of the BRICS Summit.

The US made the money issue for about $6 trillion and the currency issue in the Euro zone was $3 trillion during the pandemic period, and "all these funds were thrown on to the global market, to buy all sorts of things, foods in the first instance, but not only them," Putin noted.

"Inflation started across the globe in general. What leading economies of the world did? They abused their exclusive position in global finance - for the dollar and for the euro. [They] printed and swept the most essential goods from the market like a vacuum cleaner does," the president said. "Is it fair? We believe this is not so. And we want to change this situation. That’s what we are doing in BRICS," the Russian leader added.

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Vladimir Putin BRICS summit

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