MOSCOW, October 27. /TASS/. Russian President Vladimir Putin on Thursday said the US is using its financial monopoly to increase food purchases, which drives up prices and hurts African countries most of all.
"On paper, everybody is for equality, for supporting African countries and so on. That looks good on paper but what happens in fact? <...> 5.9 trillion dollars has been printed over the past two years, and 2.9 trillion euros has been printed. Where did that money go? It went to buy up goods in global markets. And the US from a food importer started to buy more food from the world market than it sold in the world market. It started to buy food because it has the printing press. That’s what financial monopoly causes," the president said at a plenary session of the Valdai international discussion club.
He said that immediately created a shortage. The president mentioned poor harvest last year, the pandemic and the decline of production. As part of fighting the pandemic, money was printed, released to the people and the purchases of food started, driving up prices, he said.
"Who has been affected? That’s mostly African countries, and in part, Latin America, Asia. Is anyone thinking about it? Of course, those who do it, think about it. They don’t care about these consequences. They pursue their interests without thinking about the consequences that affect those African countries," Putin said.
He said the global "hegemons will have to reckon with the legitimate demands of the overwhelming majority of the global community", and "not in words, but in deeds.".