SCO summit: Putin says sanctions making Russia stronger
Russian President Vladimir Putin has reiterated his country’s opposition to Western sanctions following the invasion of Ukraine.
Speaking at the virtual Shanghai Cooperation Organisation (SCO) summit, his first international address since the recent mutiny in Russia, Putin expressed defiance towards the West, stating that Russia would counter external sanctions and pressures while continuing to develop. He emphasized the importance of trade agreements between SCO nations in local currencies, seen as a measure to mitigate the impact of sanctions. Putin also welcomed Belarus’s application to become a permanent member of the SCO. Indian Prime Minister Narendra Modi, hosting the summit, called for increased trade, connectivity, and tech cooperation among member states.
However, he did not directly address the war in Ukraine or China’s assertiveness in the Indo-Pacific, reflecting India’s delicate diplomatic position as it strengthens ties with both the West and China. Instead, Modi urged SCO members to cooperate on countering cross-border terrorism, with his statements commonly interpreted as aimed at Pakistan. China’s President Xi Jinping emphasized the importance of regional peace and security and called for solidarity and mutual trust among SCO members. All members agreed on the need to maintain stability in Afghanistan following the Taliban’s takeover.
The SCO, formed in 2001 by China, Russia, and four Central Asian countries, has gained relevance as relations with the West deteriorate for Russia and China. With around 40% of the world’s population and over 20% of global GDP, the SCO holds significant potential, and the inclusion of Iran as a full member further enhances its energy portfolio.
However, India’s ability to strike a diplomatic balance between its global partners, including Russia, China, and Pakistan, will impact the future of the SCO. Indian diplomats assert their commitment to an independent foreign policy without favoring any particular group.
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