Putin: Russia wants G20 to focus on positive global trade trends

HAMBURG, Jul 7 (PRIME) -- Russia is against illegitimate trade and financial restrictions and is calling on the G20 to focus on the positive dynamics of global trade, President Vladimir Putin said at a meeting of BRICS leaders on the sidelines of the G20 summit on Friday.

“We are calling against a rise of protectionism. Illegitimate trade and financial restrictions with an obvious political bias are in fact aimed at elimination of competitors, lead to severed business ties, loss of trust among participants of economic cooperation and destroy global economy,” he said.

This is why, Putin also said, the G20 needs to protect the principles of open, equal and mutually beneficial trade, envisaged by the World Trade Organization rules.

The organization also needs to make efforts to adjust the global financial system to work for the benefit of national economies, including emerging economies, the president said.

He said that Russia places special emphasis on the issues of climate change and energy development.

“Russia is a reliable supplier of energy resources to the global markets, to many countries and regions of the world. We intend to continue active participation in harmonization of the global energy markets, reduction of price volatility and provision of energy security together with other fuel suppliers and consumers,” he said.

Putin added that Russia makes much effort to reduce human impact on environment and plans to continue cooperation in the field.

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