Tag: Brisbane

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.

BRICS to meet at G20

During his visit to Australia for the G20, Vladimir Putin is scheduled to hold a separate meeting with the leaders of BRICS (Brazil, Russia, India, China, and South Africa), as well as a number of working contacts with other counterparts, including French President Francois Hollande and British Prime Minister David Cameron.

The Group of Twenty, or G20, is a leading international forum specializing in global economy and finances. It consists of the world’s largest advanced and emerging economies, which represent some two-thirds of the world’s population, 85% of global gross domestic product and more than 75% of global trade.

The G20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union.

Last year, Russia was the G20 chair. In early 2014, it delegated the chair’s powers to Australia.

Brisbane, situated on the eastern coast of Australia, is the capital of the state of Queensland. A city with a population of over 2 million people is the third populous city in Australia.

Putin will arrive in Brisbane from the Russian Far Eastern city of Vladivostok, where he held a meeting on shipbuilding the day before.

Prior to that, he visited Beijing, which hosted the Asia-Pacific Economic Cooperation (APEC) summit.