President Vladimir Putin is set to use the SCO summit to detail a comprehensive counter-strategy to what he views as the West’s “weaponization of finance.” His recent remarks outline a plan to build an alternative financial system, shielded from the “discriminatory sanctions” of the US and EU.
The cornerstone of this counter-strategy is de-dollarization. Putin’s confirmation that Russia-China trade is now conducted almost entirely in rubles and yuan is the most significant step in this process. It creates a massive, insulated economic loop that bypasses the Western-controlled SWIFT system and the reach of US sanctions.
Another key element is the deepening of economic integration among non-Western partners. Putin spoke of mobilizing resources for joint infrastructure projects and reducing trade barriers within the SCO and BRICS frameworks, creating a self-sustaining economic ecosystem.
By presenting this clear and already partially implemented strategy, Putin is offering a blueprint for other nations. He is transforming the SCO from a discussion forum into a workshop for building a new, multipolar financial architecture that can resist the weaponization of finance.