“THE DOMINANCE OF THE WEST IS OVER,” SAYS RUSSIA’S PRESIDENT PUTIN

Russian President Vladimir Putin sounded like a man on a mission to change the world. But any thoughts of Putin toying with the international world order needs a quick rethink because, in his own words, he is not. Instead, Putin told a packed St Petersburg International Economic Forum (SPIEF) this week that he is merely formalizing the unfolding effects of a global system currently undergoing ferocious reconfiguration. In short, to quote the Russian leader verbatim, he is simply “formalizing” the changes.

SPIEF is Russia’s flagship convention that is held annually in St Petersburg, Russia’s cultural and heritage mecca. It is a major tourist destination of choice. It is home to the famous St Petersburg State University, the alma mater of President Putin and famous political heavyweights such as the legendary Lenin. St Petersburg boasts its impeccable history for being named after one of Russia’s foremost leaders, Alexander the Great, whose statue towers the iconic Neva River, a playground for large and small tourism boats.

President Putin’s message, especially to West, was categorically forceful. “Your dominance is over, BRICS-Plus is the future,” he said.

He spoke about a new world and a new model of development free of “golden billion” neocolonialism. “We need a new development model, not one where golden billion drains resources from other countries, benefiting only small elite, not even their own people,” said President Putin.

He also said that BRICS countries were leading in nuclear energy, aviation, IT, robotics and Artificial Intelligence (AI). “With over 1 trillion dollars in mutual trade, we’re building a global growth Platform,” said President Putin at SPIEF, attended by more than 24 000 delegates from 144 countries.

BRICS countries, he added, accounts for 40% of global economy and this share is set to grow.

“Work on a long-term cooperation agreement between India and Russia should be completed soon,” President Putin said. Russia is also focusing much attention on the Middle East. Last year, state of honour status at SPIEF was granted to the State of Oman and this year the same honour was extended to Bahrain. Next year it will be the turn of Saudi Arabia.

The Gulf Cooperation Council (GCC) has become a key component of the Global South strategic development. As oil producing nations, most are members of the Organization of the Petroleum Exporting Countries (OPEC). Although Russia is a major oil producer, it is not a member of OPEC by choice but does collaborate with the organization particularly through the OPEC-Plus framework.

President Putin said: “Middle East is facing massive challenges, but so is the world.” He added: “We need to ensure businesses both from Russia and friendly nations keep investing in mutually beneficial ways. Russia will also boost military and tech cooperation with friendly nations.”

He further said that Russia’s GDP growth rate was higher than world average for two years in a row. The country’s youth unemployment was also among the lowest in the world, “especially compared with UK and France”, he said.

On the war with Ukraine, President Putin said Russia “is not seeking Ukraine’s surrender,” but insists on recognition of the realities on the ground. “Russia has always advocated for ensuring security of each country without compromising security of others,” President Putin said.

As for Iran’s daily struggles against Israel’s ongoing bombardment, repeatedly, with the aim of destroying Tehran’s nuclear sites and effect regime change, as Benjamin Netanyahu has said, President Putin revealed that The Kremlin was in contact with the Iranian authorities almost on a daily basis.