KAZAN, October 23. /TASS/. Russian President Vladimir Putin has warned of the threat of a new global crisis due to the growing debt burden of developed countries, unilateral sanctions, and protectionism.

"There is also a significant crisis potential. It is not only about the ever-increasing geopolitical tensions, but also about the fact that the chronic growth of the debt burden in developed countries continues, the practice of unilateral sanctions, protectionism and unfair competition is expanding," he said at a meeting of the BRICS summit in an expanded format.

According to Putin, this results in the fragmentation of international trade, the market for direct foreign investment, especially in developing countries. In addition, the Russian president noted that the volatility of commodity prices is high, and due to the increase in inflation in many countries, people’s incomes and corporate profits are declining.