Russian President Vladimir Putin said on Friday during the plenary session of St. Petersburg International Economic Forum (SPIEF) 2024 that as the Russian economy strengthens, faith in western payment systems has been undermined, adding that there is a growth in ruble-currency exports.
"Western powers themselves are to blame for the deterioration of trust in their payments systems," Putin added. "Countries that used to be leaders of global development are now trying to use every means available to grasp at straws and retain their hegemony."
Putin also shared Russia's ambition of becoming one of the top four global economies. According to recent figures published by the World Bank, Moscow has already surpassed Japan in this regard, the president said.
