Putin Slams Financial ‘Neo-Colonialism’ Ahead of China Visit

Russian President Vladimir Putin criticized Western sanctions and an “unfair” financial system, calling them discriminatory and harmful to Russia’s economy. In an interview with China’s Xinhua, ahead of his China visit, he urged ending the use of finance as “neo-colonialism” and backed IMF and World Bank reforms with China to build an open, equitable system. Putin praised China as Russia’s top trading partner, highlighting record $245bn trade in 2024, largely in roubles and yuan. He will attend the SCO summit in Tianjin, meet President Xi in Beijing, and join a military parade. Putin and Xi maintain a “no-limits” partnership since 2022.