Russian President Vladimir Putin sharply criticized Western countries for freezing Russia’s currency and gold reserves, calling the move “robbery” and predicting global financial consequences.
Speaking Thursday at the Eurasian Economic Union (EAEU) summit in Minsk, Putin said the seizure of Russian assets was not done in secret, but openly.
“This is not theft. Theft is hidden,” he said. “They’re doing it openly. It’s robbery.”
Putin got the red carpet treatment in Belarus—but one leader skipped the celebration. Armenia’s PM Nikol Pashinyan didn’t attend the EAEU meeting at BelExpo, reflecting ongoing tensions with Lukashenko.
Putin, undeterred, used his speech to spotlight the union’s success, boasting $800 billion in trade last year.
“That number is comparable to leading global economies,” he said.
Turning to the broader economic picture, Putin said Western financial actions have pushed Russia to reduce reliance on Western institutions. He framed it as a logical reaction to frozen reserves and growing restrictions.
He suggested this situation would lead more countries to create alternative systems and shift away from the dollar.
“Once reserves are taken, it will push payment systems toward regional models,” Putin said. “That change will not be reversed.”
He added that Russia is working with BRICS on a digital investment platform and suggested the EAEU could do something similar.
“We’re building this now within BRICS,” he said. “It could be done within the EAEU, too.”
Putin wrapped up his speech by looking ahead, basically seeing an economic opening in the Middle East. He pointed to the new free trade deal with Iran as a successful first step.
His optimism, he explained, comes from his belief that the immediate crisis is fading. “With the situation between Israel and Iran cooling down,” he said, “we can start developing relations across the region.”
There were no big headlines from the summit, but Putin made waves by focusing on Russia’s efforts to shift financial ties and move away from dollar dependency.
