President Putin believes the world is gradually moving away from the model of economic and financial dictatorship.

"The process of building a multipolar world order - more democratic, more honest, more equitable for the vast majority of humanity - is inevitable, historically necessary. This fully applies to creating a solid economic foundation for such a world order," Putin said at the plenary session of the International Finance Olympiad.

In the financial sector, respect for each other's interests is extremely important. "You know very well that in the financial sector today there is a rapid development of innovative solutions and technologies. These are digital currencies, digital financial assets, new payment services and financial settlement models. Including the use of blockchain technology,... called distributed registration. I would like to reiterate that in this area, especially when it comes to international economic cooperation, trust and respect for the interests of partners as well as each other's interests are extremely important," said Mr. Putin.

“The world is gradually moving away from such a model of economic and financial dictatorship, the purpose of which is to make partners indebted, enslaved, turned into economic colonies and deprived of resources for the development of entire regions of the world,” Putin stressed. He noted that “very few people will like such a future.”

In his speech, President Putin spoke about the digital projects of several central banks in Asia and the Middle East, which allow them to issue and exchange digital currencies. “That means that no third party has the opportunity to abuse or interfere with payments. For example, blocking transactions, confiscating accounts, seizing other people's money or property. And unfortunately, this happens in the modern world. There are many young people sitting here, but I can tell you that this is done by adults, uncles and aunts, who are too confident, they make wrong actions that ultimately harm themselves,” Putin said.

At the plenary session, one of the participants from India noted the importance of cooperation between countries to combat financial crimes. Putin noted that this proposal coincides with the historical trend of interaction between Russia and India.

“Several years ago, Russia submitted a proposal to the United Nations to create such an international legal system and proposed signing an international treaty. We were supported by dozens of countries and I very much hope that despite all the current difficulties in the international arena, we will eventually reach some kind of consensus,” Putin said.

At the same time, the Russian head of state noted that it is impossible to limit the interests of the countries at the top of the “financial pyramid” and “manage the world currency at their own discretion”, because although this is their national currency, this does not correspond to the interests of the vast majority of humanity./.