Siluanov spoke about the weakening of previously dominant economies

Large economies that previously dominated the world are gradually deflating, giving way to new players such as Russia, China or India, said Finance Minister Anton Siluanov, RIA Novosti reports.

“All transformations that take place in the world, of course, depend on changes in the balance of forces in the world. Old systems are slowly becoming obsolete, new forces are coming, new economies are coming – China, Russia, India. The East is actively developing, and the old economies that used to dominate, both economically and politically, are gradually deflating,” the minister said at the Russia exhibition.

Siluanov added that a similar situation has occurred more than once in world history, and the changes have always been painful. At the same time, the old economies, he continued, “cling to sanctions, using their currencies as weapons,” trying to restrain the development of their competitors, thereby harming their own interests.

On November 1, at a meeting on economic issues, Russian President Vladimir Putin said that the West, against the backdrop of the exhaustion of the “potential for sanctions aggression,” could resort to sabotage against Russia and its projects, as was the case with the bombing of the Nord Stream gas pipelines.

In these conditions, as the president noted, it is important to calculate such risks in advance and respond to them proactively in order to ensure “confident, stable operation of our enterprises, companies, workforces, reliability of our foreign trade relations and logistics routes.”

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