Putin: Protectionism is new norm, sanctions are its implicit form

MOSCOW, Jul 6 (PRIME) -- Old economic models have grown obsolete and protectionism has become a new standard with one-way politically inspired sanctions on trade and investments being its implicit form, Russian President Vladimir Putin told German daily Handelsblatt ahead of the G20 meeting late on Wednesday.

“From our point of view, the sanctions have no chance to succeed and disagree with the G20’s principles of cooperation for the benefit of all countries around the globe,” he said.

“I am sure that only open trade links based on unified norms and standards are favorable for the global economy and progressive development of interstate relations. In the way it is envisaged by the World Trade Organization.”

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