MOSCOW, November 21 The current international trading system is now facing the threat of complete destruction, followed by a new, fairer world order, the Minister for Integration and Macroeconomics said in an interview Eurasian Economic Commission Sergey Glazyev.
«I think that the threat of complete destruction looms over the international trading system today… The new world economic structure, to which all countries are gradually moving, involves much greater diversity than what we saw in the past structure — be it the Soviet system or «American-centric order. In the new world economic order, no universal forms of currency regimes or trade regulation are assumed — on the contrary, the importance of national sovereignty and international law based on national sovereignty is restored,» Glazyev noted.
According to him, the World Trade Organization (WTO) must undergo changes, the rules of which, according to the EEC Minister, are “generally ignored by everyone today.” “Moreover, Western countries are the first to show an example of how they can arbitrarily impose an embargo on the supply of goods to Russia, Belarus, and even “twist the arms” of some countries, trying to prevent them from calmly conducting mutual trade,” the agency’s interlocutor explained.