Putin slams US sanctions, calls them threat to entire world

"I refer to the West's sanctions fever, its undisguised, aggressive attempts to impose behavior patterns on other countries, deprive them of sovereignty and subjugate them to their will."

The waning world dominance of the US in politics and economy, coupled with the "stubborn unwillingness and inability of the Western elites to see and recognize objective reality" served as a catalyst for these processes, Putin stated, according to Sputnik.

Western countries, in an attempt to resist the course of history, have undermined the key pillars of the world economic system, forged over the centuries, Vladimir Putin noted.

"We see how confidence in the dollar, euro and pound sterling as currencies to carry out payments, store reserves, nominate assets has been lost," Putin underscored elsewhere in his remarks.

The world is gradually moving away from using such unreliable, compromised currencies, the president emphasized, adding that even US allies are cutting their dollar assets.

The so-called collective West seeks to preserve a world order serving only its own interests, stated the Russian President.

"Western countries strive to maintain the old world order that is beneficial only to them, to force the global community to live according to the notorious rules that they invented and themselves regularly violate and constantly alter depending on the current state of affairs," Putin added.

The US is persistently and unashamedly pursuing its own interests, stopping at nothing to achieve its goals, including sacrificing European companies that have to close down due to crippling energy costs, the Russian president warned. He added that it would not be surprising if this policy resulted in European business niches, both on the continent and on the global market, being taken over by their ‘American patrons’.

The reluctance of other countries to submit to such diktat and arbitrariness makes the Western elites adopt rash, short-sighted, adventurous decisions both from the point of view of world security, politics, and the economy," said Russian President Vladimir Putin, speaking at the Eastern Economic Forum. These decisions run counter to the interests of countries and citizens of the Western states themselves, he added.

Elsewhere in his remarks, Putin stressed that tectonic changes have taken place in the system of international relations.

"The role of dynamic, promising states and regions of the world has significantly increased. And above all, of course, the Asia-Pacific region. Its countries have become new centers of economic and technological growth, points of attraction for personnel, capital, production," Putin told the plenary session of the Eastern Economic Forum (EEF).