BRICS: Xi Jinping criticizes financial sanctions


THE Chinese chairman Xi Jinping called for solidarity and cooperation today in order to support the global economic recovery threatened by pandemic and security issues, while criticizing the sanctions that will cause, according to him, only disaster.

“The crisis in Ukraine is a wake-up call for the world,” Xi said at the inaugural ceremony of the BRICS business forum via video link. “The facts have proved once again that sanctions are a double-edged sword.”

Xi called for stronger macroeconomic policy co-ordination in order not to slow down or halt the global recovery, adding that large developed countries should adopt “responsible” economic policies.

The BRICS countries are Brazil, Russia, India, China and South Africa The BRICS group accounts for more than 40% of the world’s population and almost a quarter of the world’s GDP.

“Mankind has experienced the devastation of two world wars and the dark mist of the Cold War confrontation,” Xi said, according to the New China (Xinhua) news agency.

“This painful story shows that confrontation between hegemonic blocs will not bring peace and security, but only war and conflict,” he said.

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