Events

18 Nov 2025

Putin meets with SCO heads of government

MOSCOW, 18 November (BelTA) – Russian President Vladimir Putin met at the Kremlin with heads of delegations from the Shanghai Cooperation Organization countries, who arrived in Moscow to take part in the meeting of the SCO Council of Heads of Government. Attending the meeting was also Belarusian Prime Minister Aleksandr Turchin, BelTA has learned.

Vladimir Putin noted that the SCO is one of the largest regional associations not only on the Eurasian continent but also globally. “Governments, naturally, play a special role in establishing concrete, practical cooperation and in expanding the multifaceted interaction among the member states of the organization. Governments always bear a special responsibility when it comes to practical work. It is precisely governments, the teams under your leadership, that carry out this practical work,” he said.

The Russian president stressed the importance of the growing share of national currencies in commercial transactions among SCO members. “For example, in our country’s trade with SCO partners this figure already exceeds 97%. Stable and uninterrupted settlement channels are of vital importance, especially amid today’s volatile economic environment, turbulence in global markets, unilateral sanctions, tariff restrictions, and wars,” he stated.

According to Vladimir Putin, at Russia’s initiative and with the support of partners, steps are being taken within the SCO to expand payment, settlement, and depository infrastructure. “On the agenda are consultations to establish a SCO Development Bank, mutual recognition of credit ratings, and commodity indicator systems. Other Russian proposals are also being implemented, including the creation of an SCO database of industrial investment projects. Such a tool will expand cooperation in the industrial sector, foster joint development of production capacities, import substitution, and the introduction of new technologies and digital innovations, including artificial intelligence. Ultimately, this will help strengthen the technological sovereignty of our countries in key sectors of the economy,” he emphasized.

In his view, SCO countries must continue joint efforts to build an extensive and competitive network of logistics routes across the SCO space and Eurasia as a whole. “Our country makes a significant contribution to maintaining stability in global energy markets. We are doing everything to ensure reliable supplies of energy resources to consumers, despite external attempts to disrupt supply chains. And we count on closer coordination among all SCO partners in the energy sphere,” the Russian leader stressed.

He also noted that SCO cooperation is far from limited to the economy. “Although that is certainly the main focus. But our organization also contributes to strengthening peace and stability across Eurasia, countering various challenges and threats, and shaping a new balanced security architecture in the region. An equally important component of SCO activity is the development of humanitarian contacts,” Vladimir Putin added.