Called The West Damage To The Pillars Of The World Economic System, President Putin The Value Of The Asia-Pacific Region Promising

Vladimir Putin. (Source: Kremlin.ru/TASS/Sergey Bobylev)

JAKARTA - President Vladimir Putin said the West failed because of in vain and aggressive efforts to isolate Russia with sanctions of destroying the global economy, as Asia rose to claim its future.

Speaking at the Eastern Economic Forum (EEF) in the city of Vladivostok, President Putin said Western sanctions against Russia had replaced the COVID-19 pandemic, as a major threat to the global economy.

"I am talking about a Western sanction fever, with aggressive efforts and courage to impose behavior models in other countries, to seize sovereignty and beat them up as they wish," President Putin said.

"In an attempt to counter the course of history, Western countries undermined the main pillars of the world's economic system built for centuries," President Putin said, adding confidence in the dollar, euro and pound is falling.

Western efforts to economically isolate Russia, one of the world's largest natural resource manufacturers, have pushed the global economy into fruit-oriented waters, with soaring food and energy prices.

Furthermore, President Putin said the West tried to impose its will on the world, but their strength declined as global growth containers now exist in Asia.

"Tectonic changes that are irreversible and have even occurred across international relations," President Putin said.

"The dynamic and promising role of countries and the world region, especially the Asia-Pacific region, has increased significantly," he explained.

President Putin also said the Russian economy is facing what he calls financial aggression and Western technology, acknowledging some difficulties in some industries and areas.

The United States and its allies imposed the most severe sanctions in modern history against Russia over what President Putin called a special military operation in Ukraine. Russian leaders consider the sanctions similar to the declaration of economic war.