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Sanctions harm world community, boomerang on its creators, says Xi

Politicizing and instrumentalizing the world economy, while exploiting the influence of the international financial system to impose sanctions arbitrarily - all these factors eventually do harm to all parties, the Chinese President underscored

BEIJING, June 22. /TASS/. Sanctions have a devastating impact on the global community and deliver blows to those who have imposed them on others, China’s President Xi Jinping said in his video address at the opening ceremony of the BRICS Business Forum on Wednesday.

"Facts prove time and time again that sanctions are a boomerang and a double-edged sword," the Chinese leader stressed. "Politicizing and instrumentalizing the world economy, weaponizing it, while exploiting the influence of the international financial and currency systems to impose sanctions arbitrarily - all these [factors] eventually do harm to all parties and make the world community suffer," he added.

China Central Television (CCTV) has reported that 1,000 delegates from 18 countries are attending the BRICS Business Forum. Among them are business people from 13 countries, including 40 companies from the world-renowned Fortune 500 list.

The 14th BRICS Summit is being held on June 23 as a videoconference. The summit will focus on further global development, global economic problems and the strengthening role of developing countries. China is holding the presidency of BRICS (Brazil, Russia, India, China and South Africa) this year.