‘Golden Billion’ Countries Exploit Rest of World - Putin

MOSCOW (Sputnik) - Modern credit relations are structured in such a way that they serve only the interests of the "golden billion," abusing their position in the world, Russian President Vladimir Putin stated on Friday.

"Modern financial credit relations in the world are built in such a way that they exclusively serve the interests of the so-called 'golden billion.' They, this 'golden billion,' more precisely, the leaders of these 'golden billion' countries, they exploit almost all other countries of the world. They abuse their position both technology, information and finance wise," Putin said at the International Parliamentary Conference Russia-Latin America.

The structure of the modern credit relations needs to be changed, the president added.

Russia is ready to develop cooperation with countries of Latin America on bilateral basis and within the framework of international structures, Putin stressed.

"We have supported and still support Latin America in its unity and diversity …We are ready to build relations both on a bilateral basis and to work closely with integration organizations in the Latin American region, the Community of Latin American and Caribbean States [CELAC], the Bolivarian Alliance for the Peoples of Our America [ALBA], the Southern Common Market [MERCOSUR]," the president emphasized.

Putin added that Russia will help the above-mentioned structures to establish practical ties with the Eurasian Economic Union (EEU), to coordinate takes on relevant issues of trade policy, tariff regulation, investment promotion, and technology transfer.

In addition, Putin noted that the Latin American countries have a desire to "pursue sovereign and independent foreign policy" and they will have a leading role in global politics.

"Our friendly attitude towards the countries of the region is reflected in the fact that we are always ready to help Latin Americans," Putin said, adding that Moscow is ready to provide assistance in emergency situations and in fight against crime.

The first International Parliamentary Conference Russia-Latin America was launched on Friday and will last until Monday, with representatives of more than half of Latin American countries participating.