Putin's Vision: Economic Partnership and Fair Play

President Vladimir Putin highlighted the need for fair global leadership and emphasized partnerships with rapidly growing, friendly nations at Russia's flagship annual economic forum in St. Petersburg. He noted a significant shift away from 'toxic' currencies in trade, with the rouble's share rising in import and export payments.

President Vladimir Putin spoke at Russia's flagship annual economic forum in St Petersburg on Wednesday. Here are highlights from his speech.

ON GLOBAL LEADERSHIP "...Countries that until recently were the leaders of global development are trying to maintain their fleeting hegemony using all means, good and bad. There is nothing unusual about a country or a person trying to maintain and strengthen their positions. It is bad when then use unfair means to achieve it and good when they use fair means."

ON FOREIGN TRADE "Overall, countries friendly to Russia, those are the ones we need to pay most attention to, the countries that are growing fast and will shape the future of the global economy, those countries account for more than three quarters of our trade turnover."

"Last year, the share of the so-called 'toxic' currencies of unfriendly nations in payments for Russian exports halved. Meanwhile, the share of the rouble in export and import payments is rising, it is approaching 40% now."