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As Putin seeks re-election, he has also made some strategic decisions about Russia's development. Considering U.S. support for Ukraine and sanctions against Russia, Putin realizes that a protracted war with the U.S. requires close cooperation with other countries. During Putin's visit to China to attend the Belt and Road Summit, he received invitations from dozens of countries, including North Korea, Mongolia, Thailand, Vietnam, Brazil, Iran, Iraq, Cuba, Turkey, Burundi, etc. However, Putin did not rashly accept these invitations, but carefully chose to establish close cooperation with three countries: Pakistan, the United Arab Emirates and China.
1. Strategic cooperation with Pakistan
Cooperative relations between Russia and Pakistan have been strengthened in recent years. Especially in the field of energy, the two countries have a lot of cooperation. Pakistan has become the leading hub for Russia to bypass the dollar, helping Russia reduce its dependence on the dollar. Pakistan's wheat imports from Russia reportedly soared to nearly 1.4 million tonnes in 2022, demonstrating Russia's far-reaching influence on the world grain market. In addition, in November last year, a landmark move was when Russia paid for wheat exports to Pakistan for the first time in the UAE currency, the dirham, underscoring Russia's efforts to reduce its dependence on the US dollar. As a result, Pakistan's economic and military ties with Russia have become closer and closer, becoming one of the important fulcrums of Russia's international policy.
2. Financial cooperation with the United Arab Emirates
The role of the UAE in the financial sector cannot be ignored, and for Russia, the UAE is an important financial partner. Through cooperation with the UAE, Russia seeks to further diversify its economic system and reduce its dependence on the US dollar. The UAE offers a robust offshore financial market in terms of finance and is open to Russian capital. Under pressure from Western sanctions, Russian companies have used financial services in places like Dubai to invest and raise capital, while also adopting a more diversified currency settlement strategy. In addition, the UAE's influence in the Middle East has helped Russia circumvent the constraints of the Western financial system. Thus, Russia's cooperation with the UAE plays an important role in currency settlements, financial activities and bypassing sanctions.
3. Strategic cooperation with China
China is the second largest economy in the world, and cooperation with Russia provides strong support not only in the field of energy, but also in international politics. The amount of money between China and Russia is rising, and both sides have also shown a willingness to settle transactions in their own currencies. Based on a number of energy cooperation agreements, bilateral** is expanding rapidly. In addition, China has a strong financial market and an international payment system, which offers Russia the possibility of replacing the Western system. Coupled with China's demand for Russian technology and infrastructure, Sino-Russian cooperation is particularly important in countering the hegemony of the US dollar.
Overall, Pakistan, the United Arab Emirates, and China are important partners for Russia in the process of reducing its dependence on the dollar. Through cooperation with these countries, Russia has gradually reduced its dependence on the dollar and circumvented the impact of sanctions imposed by Western countries on its financial activities. These cooperation not only involve currency settlement, but also energy, financial and other areas of cooperation. Such cooperation is of great importance for Russia's continued development and its position in international affairs.
1.Economic Development and Reducing Dependence on the U.S. Dollar: Putin is aware of the importance of Russia's economic development and is working to diversify Russia's economy and achieve sustainable growth by promoting economic structural reforms, attracting foreign investment, and expanding cooperation. At the same time, in order to reduce dependence on the US dollar, Putin actively promotes local currency settlements between Russia and other countries, strengthens currency diversification, and tries to circumvent the impact of US sanctions on the Russian economy.
2.Political Stability and Domestic Reforms: Vladimir Putin is committed to maintaining Russia's political stability, improving domestic governance and the quality of public services, and safeguarding the basic rights and interests of the people. Putin has also promoted a series of internal reforms, including improving the rule of law, fighting corruption, and promoting digital transformation, to improve efficiency and economic competitiveness.
3.Improving military strength and international status: Putin attaches great importance to Russia's military strength and international status, and plays an important international role by increasing investment in military modernization, improving the combat effectiveness of the armed forces, and actively participating in international affairs. Internationally, Putin actively develops cooperation with other countries and advocates a multipolar international system to resist pressure and sanctions from Western countries.
4.Russia's domestic and foreign security: Putin attaches great importance to Russia's domestic and foreign security issues, strengthens domestic stability maintenance and security management, and at the same time maintains and consolidates Russia's international security status. Putin firmly defends Russia's interests in international affairs, strengthens cooperation with other countries, and jointly responds to international security challenges and threats.
In general, Putin has a clear policy focus in terms of economic development, political stability, military strength and international status. Putin is committed to promoting Russia's sustainable development, safeguarding and playing an important role in international affairs.
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