Putin says unipolar world is coming to an end

spiefPresident of Russia Vladimir Putin stated at the St. Petersburg International Economic Forum (SPIEF) that the unipolar model of the world has failed; and today it is obvious to everybody, including those who try to live in the past and maintain a monopoly, dictate their rules in politics, trade, finance, and impose cultural standards.

Putin notes that even though the Forum is devoted to economic issues, politics influences economic processes. And “inability to compromise, consider the legal interests of partners, direct pressure just to nourish chaos and instability, new risks to further development of the international community.”

“Isn’t it clear that economic sanctions have a boomerang effect as an instrument of political pressure in the modern world? In the end they are reflected in the businesses and economies of the countries which initiate them. I understand the concern of foreign businessmen who invested billions in Russia, gained weight in our country and worked successfully here,” President Putin stressed.

“Russia is being brought into the integration Eurasian project together with its neighbors. The central event of the year for the countries of the Customs Union and the United Economic Space will be signing of the treaty on the Eurasian Economic Union, which will take place in Astana on May 29th. The treaty will come into force on January 1st, 2015. We will have a united market of three countries with population of more than 170 million people, free capital, goods, services, labour force movement. Opportunities for business are growing,” the Russian leader said.

Putin expressed assurance that the Eurasian Economic Union will help foreign partners to work in the new united market, as the integration model is based on the principles of the WTO.

Source: Vestnik Kavkaza