LIVE from the SCO Summit 2025 — Russian President Vladimir Putin delivers a blunt warning to the West, declaring the “end of dollar dominance” and mocking the U.S. currency as a “tiny violin.” Speaking at the summit, Putin outlined SCO’s ambitious 2035 multipolar economic strategy, emphasizing sovereignty, non-interference, and local currencies in trade. Analysts say this marks a major challenge to U.S.-led economic systems and signals a shift toward a new global order. Watch full coverage of Putin’s explosive remarks and the SCO’s bold move.
00:00I would also like to note the strategy, the SEO, until 20 to 35, we're also seeing progress in trade turnover above the world average.
00:12GDP growth has been over 5%. Industrial output grew by 4.6%.
00:22First of all, I would like to support the statements by my colleagues who have voiced their appreciation of the Chinese side's preparations and work as part of the SEO.
00:40This year is a special for all of us. On May the 9th in Moscow, there was a celebration of the anniversary of the victory.
00:51In the Second World War, and the defeat of Nazi Germany, and in Beijing, there will be a celebration of the victory over Japanese militarism.
01:03Crushing Nazism and militarism was made possible thanks to the cohesive ties between the peoples of the world.
01:13In the aftermath of the Second World War, the United Nations was established, which is also celebrating its 80th anniversary this year.
01:23Its charter incorporated the principles of the supremacy of international law, the self-determination of peoples, sovereign equality of states, non-interference into the domestic affairs of countries, independence, and respect for national interests.
01:41These principles are immutable up to this day, and it is on these principles that the Shanghai Corporation Organization bases its work, adhering to the ideas of a multipolar world and a fair international order.
02:00A substantial package of documents has been prepared for the summit.
02:07The challenging declaration, the key document incorporates coordinated approaches of the countries on regional and international agendas.
02:19I would also like to note the strategy, the SEO, until 2035, which will define the key areas of the SEO's activities in politics, economy, security, and humanitarian affairs.
02:38The cooperation undertaken at the SEO is impressive.
02:45The GDP growth has been over 5%.
02:51Industrial output grew by 4.6%.
02:56We are also seeing progress in trade turnover above the world average.
03:03We are seeing increasing use of national currencies in trade.
03:10We are advocating the creation of an independent settlements and financial infrastructure.
03:21The implementation of new banking and investment projects, which will allow us to increase the efficiency of our trade and make us secure against external challenges and shocks.
03:35A competitive transport infrastructure is emerging.
03:40Car and rail transport, as well as multimodal shipments, are on the rise.
03:46Customs cooperation is ongoing.
03:49Electronic document flow is being implemented in various sectors.
03:55The strategy of energy cooperation until 2035, adopted last year, is being actively implemented.
04:04The roadmap adopted as part of the strategy will ensure coordinated and balanced activities in the energy sector across the SEO space.
04:18As many of my colleagues have already noted, our ties in science and education are developing too.
04:27As well as in health care, environmental protection, sports and youth initiatives.
04:34The SEO University, bringing together 77 universities from our countries, is holding regular events, including meetings of university rectors, presidents, students, post graduates and teachers.
04:52Our organization is progressively advancing the solution of many pressing international issues and is serving as a locomotive in advancing true multilaterality.
05:07The SEO is making a substantial contribution to strengthening the atmosphere of collaboration and mutual trust on the Eurasian continent, helping us create the political and socio-economic foundations for a new system to ensure stability and peaceful development.
05:30A system that could take the place of the obsolete Eurocentric and Euro-Atlantic models, and that would include the interests of a broad range of countries.
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