Putin calls for conflict prevention and independent SCO financial systems

BISHKEK, September 1. /TASS/. Countries must do everything possible to prevent the provocation of armed conflicts in global practice, Russian President Vladimir Putin said at a meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO).

He also noted that the SCO Development Bank should be as independent as possible from the financial systems of countries that use finance as a weapon.

TASS has compiled the Russian leader’s key statements.

Call to prevent provocation of conflicts

Countries must do everything possible to prevent the provocation of armed conflicts in global practice: "I would like to remind you that today is September 1. This is the day World War II began. We must do everything possible to eliminate any provocation of armed conflicts. I am convinced that our work is precisely leading us in that direction."

Finance as weapon

The SCO Development Bank should be as independent as possible from the financial systems of countries that use finance as a weapon: "[The SCO Development Bank], in my opinion, should be as independent as possible from the financial systems of those states that use economic instruments as a weapon to gain unilateral advantages in international affairs."

In the future, the bank could contribute significantly to the implementation of joint, mutually beneficial economic projects, similar to the Business Council and the Interbank Association.

SCO development and role

In the 25 years since its establishment, the SCO has "come a truly long way."

Russia’s trade turnover with the SCO countries exceeded $400 billion last year.

The share of national currencies in mutual settlements between Russia and SCO member states exceeds 98%: "National currencies are being used more and more in transactions between our countries. In Russia's transactions with SCO members, national currencies account for over 98%."

In the 25 years since its creation, the SCO has become one of the independent and influential centers of the emerging multipolar world: "Let me remind you that, established in 2001 on the initiative of six states - Russia, China, Kazakhstan, Tajikistan, Kyrgyzstan, and Uzbekistan - it has grown stronger and expanded, becoming one of the independent and influential centers of the emerging multipolar world."

The member states actively cooperate in a variety of areas, contributing to each member state's development: "The SCO members actively cooperate in the political, economic, and humanitarian spheres. Such cooperation ensures the systematic and sustainable development of each state and contributes to an atmosphere of peace, stability, trust, and cooperation across our shared Eurasian continent."

Strengthening commercial ties among SCO member states brings them clear benefits: "Among the pressing practical tasks facing the SCO, I would like to highlight the further strengthening of commercial ties among member states. This brings clear benefits to all of us and genuinely contributes to steady socioeconomic growth and improved public welfare."

SCO members must act in a coordinated manner in the energy sector and maintain a balanced policy: "I believe it is in our common interest to continue a coordinated and balanced energy policy as outlined in the SCO's Energy Cooperation Strategy through 2030."

World Nomad Games

Russia is ready to host the 7th World Nomad Games in Kazan in 2028: "Our country is ready to host the next edition of these games in 2028 in Kazan. We look forward to welcoming teams from interested countries."