Sanctions run counter to G20, international law, WTO, GATT

The sanctions that some G20 countries have taken against Russia run counter to the principles of G20, the Russian president, Vladimir Putin, reminded partners at the organisation’s summit currently held in Brisbane, Australia.

More importantly, Putin said, sanctions run counter to international law.

Such punitive measures may only be introduced through the United Nations and its Security Council, he said.

Moreover, they violate WTO principles as well as the General Agreement on Tariffs and Trade, the GATT.

Ironically the United States itself created the latter at a certain point, but it is currently crudely violating its principles.

Regrettably, Putin said, today’s world exists within a very narrow horizon of planning, in particular, in the sphere of politics and security.

“Everybody lives from election to election. This is a very narrow planning horizon. It leaves no opportunities for taking a broader perspective, for looking into a more distant future. That’s bad. But I hope that we shall discuss this,” he added.

At the just-ended APEC summit, discussions were held on international problems, sanctions and on bilateral problems with most participants in attendance.

President Putin reminded his audience tha the GDP of the BRICS countries calculated at the purchasing power parity is greater than that of the G7. The GDP of BRICS is $37.4 trillion, while that of the G7 is $34.5 trillion.