Putin, who was speaking at the plenary session of the 26th St. Petersburg International Economic Forum (SPIEF), stated the world is presently undergoing a deep transformation, especially in trade relations; therefore, Russia had started off by trying out Latin America, Africa and Asia markets much earlier than the situation with Ukraine.

The Russian leader noted that the growth trade rate between China and European nations is being higher even than that between Moscow and Beijing.

“When I hear that Russia is going to enter into dependence on China, I wonder, Europeans aren’t, are they? They have been like this for a long time,” Putin stressed.

Later, Putin stated that “there are good relations with China, India and other countries.

Other nations are also developing at a tremendous pace. Indonesia, for example, which is a huge market. Latin America is also developing, and there are huge opportunities in Africa,” he emphasized.

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