After BRICS, Putin pushes dedollarisation at SCO: US economy in more trouble after Iran oil shock?

Vladimir Putin addressed the SCO summit in Bishkek, calling it the world’s largest regional organisation by population and economic weight. He highlighted growing trade, investment and cooperation among member states, saying Russia’s trade with SCO countries reached $400 billion last year. Putin also said more than 98% of Russia’s mutual settlements with SCO partners are now conducted in national currencies. He backed stronger SCO mechanisms, energy cooperation and the creation of an independent development bank. Putin also highlighted the World Nomad Games and said Russia is ready to host the 2028 edition in Kazan, while calling for efforts to prevent armed conflicts.