Russian President Vladimir Putin submitted to the Shanghai Cooperation Organization (SOS) to issue joint bonds at the Summical Summit. This would allow significant deepening of mutual economic cooperation of Member States. Reuters informed about it.
“We support issuing common bonds of Member States,“Said Putin at the SOS Summit in the Chinese city of Tchien-otin. In addition to publishing joint bonds Putin also proposed A joint payment system for business transactionsas well as the creation of a bank for joint investment projects. From imposing the sanctions of Western countries to Russia after an attack on Ukraine, Moscow is striving for alternative payment mechanism, which would bypass the dollar and the euro. It would reduce the influence of Western names, especially the dollar, on Russian shops.
ŠOS was established in 2001 and replaced the group of Shanghai Five, which was established in 1996 and Included Russia, China, Kazakhstan, Kirgizia and Tajikistan. Shos now includes in addition to the above -mentioned countries Belarus, India, Pakistan, Iran and Uzbekistan.
