Putin accuses US of acting ‘aggressively’ in Middle East

Speaking at an investment conference organized by Russia's second-largest bank, VTB, Putin said the development of new logistics routes is an “inevitable” process backed by the growth of the economy and trade and due to geopolitical risks.

He exemplified his argument with the Suez Canal, saying the volume of cargoes passing through it has decreased, which he said is “regrettable” on the part of his country.

“This is, of course, primarily due to geopolitical risks, due to the fact that the US is actively and quite aggressively acting in the Middle East,” he said, noting this triggers a response in the region from “resistance forces.”

He further said that the economy and logistics routes are suffering, which has resulted in many shippers sending their vessels around Africa.

The Russian president also commented on US President-elect Donald Trump’s remarks over the weekend on imposing a 100% tariff on any BRICS country that attempts to move away from the US dollar in international trade, saying “certain changes” have occurred in the global and American economy over the past four years.

“His (Trump’s) successors, his political opponents have done a lot to undermine the fundamental foundations of the dollar as a global reserve currency,” Putin said, accusing the current US government of using the dollar as an instrument against those they considered “enemies.”