ST. PETERSBURG, June 5. /TASS/. The world is currently experiencing its largest structural transformation in decades, in fact, the very paradigm of global development is changing, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

He drew attention to the turmoil currently affecting energy markets, how tensions are being provoked and growing in a number of regions. Against this backdrop, European elites are engaging in aggressive rhetoric and provoking chaos in an attempt to draw as many countries as possible into it.

"These processes did not arise by themselves; they are a consequence of the world experiencing the largest structural transformation in decades," Putin pointed out. "Moreover, such a transformation is not a transition from one phase of the cycle to another; rather, a change in the very paradigm of global development is in progress."