Putin said about undermining the foundations of a free world economy

Putin said about undermining the foundations of a free world economy

Recently there has been undermining of the basic principles of the world development, the rule becomes a violation of the rules, said the President of Russia Vladimir Putin in his speech at the plenary session of the SPIEF-2018.

“Until recently, the basis of world development were two major defining principles: first, it is free enterprise, trade, investment, fixed common rules, adopted by the participants of international relations, secondly, the stability and predictability of these rules, provided a clear legal mechanism. Based on these values and principles, global economy, despite the problems, have managed to achieve impressive results…”, —he said.

But today we are seeing not even the erosion, I say this with regret, and, in fact, undermine these foundations. The system of multilateral cooperation that has built up over decades, is a natural, necessary evolution breaks down… the Rule is a violation of the rules.Mr Putinprime Russia

Putin stressed that “open markets and fair competition are gradually being replaced by different kinds of exemptions, restrictions, sanctions”.

According to the President, such measures “were quite formal trade policy instrument in many countries.”

“Some States are forced to adapt, to react, to take mirror measures,” said Putin.HelpAs the ruble fell and grew up amid news of U.S. sanctions and the conflict in Syria

Foreign exchange spring fever.

Read more