Putin, St. Petersburg Forum: New Opportunities in a NEW WORLD (full speech)

… the era of a unipolar world order has come to an end

… imposed by one centre in a rough and no-compromise manner

… all business practices and international relations, when it is convenient, are interpreted solely in the interests of this power

… the United States proclaimed itself to be God’s messenger on Earth

… without any obligations and only interests which were declared sacred

… the ruling elite of some Western states seem to be harbouring this kind of illusions

… to believe that the dominance of the West in global politics and the economy is an unchanging, eternal value

… They still treat them like colonies, and the people living there, like second-class people

… If some “rebel” state cannot be suppressed or pacified, they try to isolate that state, or “cancel” it

… they expected to suddenly and violently crush the Russian economy

… it did not happen

… Russian entrepreneurs and authorities have acted in a collected and professional manner

… Russians have shown solidarity and responsibility

… economic dynamic is being stabilised, and state finances are now sustainable

… the consolidated budget – a surplus of 3.3 trillion rubles

… In May alone … surpassing the figure for May 2021 more than four times over

… European politicians have already dealt their economies a serious blow all by themselves

… These outlays fall directly on the shoulders of people and companies in the EU

… we have adjusted social benefits and pensions to inflation

… increased the minimum and subsistence wages, thereby protecting the most vulnerable groups of the population

… high interest rates have helped people keep their savings in the Russian banking system

… difference from the EU countries, where rising inflation is directly reducing the real incomes of the people

… eating up their savings … above all, low-income groups

… many years of irresponsible macroeconomic policies

… including uncontrolled emission and accumulation of unsecured debt

… the operation we launched in Donbass is a lifeline they are grabbing at to be able to blame their own miscalculations on others

… they printed more money, and then what? Where did all that money go?

… For a long time, the United States was a big food supplier in the world market

… It has turned from a net exporter of food into a net importer

… printing money and … buying food products all over the world

… According to the UN, in February 2022, the food price index was 50 percent higher than in May 2020

… the economy of mythical entities is inevitably being replaced by the economy of real values and assets

… According to the IMF, global currency reserves are at $7.1 trillion and 2.5 trillion euros now

… They will be converted from weakening currencies into real resources like food, energy commodities and other raw materials

… this process will further fuel global dollar inflation

… Europe, their failed energy policy, blindly staking everything on renewables and spot supplies of natural gas

… caused energy price increases since the third quarter of last year … long before the operation in Donbass

… We have absolutely nothing to do with this

… they also resulted in decreased fertiliser production … made from natural gas

… global fertiliser prices have jumped by over 70 percent from mid-2021 through February 2022

… aggravated by obstacles to the operation of Russian and Belarusian fertiliser producers

… Prices will go even higher, which could lead to hunger in the poorest countries

… will be fully on the conscience of the US administration and the European bureaucracy

… the Americans have adopted sanctions on our fertilisers, and the Europeans followed suit

… Later, the Americans lifted them … But the Europeans have not backed off

… protecting our people and the residents of the people’s republics of Donbass who for eight long years were subjected to genocide by the Kiev regime and the neo-Nazis who enjoyed the full protection of the West

… Russia … rejects any and all outside attempts to impose pseudo-values steeped in dehumanisation and moral degradation

… Russia will never follow the road of self-isolation and autarky

… we are expanding cooperation with all those who … want to work with us

… the overwhelming majority of people on Earth

… Only powerful and sovereign states can have their say in this emerging world order. Otherwise, they are doomed to become or remain colonies devoid of any rights