D
Deleted due to Error (Muji Iqbal)
We are all hoping for that. That China is the alternative to the American empire. Pakistanis and Saudi Arabia is hoping for that.
Russian Defense
Saif
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China, Saudi Arabia top buyers of Russian fuel oil
China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July, traders said and LSEG data showed on Friday.
China, Saudi Arabia top buyers of Russian fuel oil
China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July, traders said and LSEG data showed on Friday.
Russian fuel oil and VGO seaborne exports last month rose 7 percent from June to about 4.05 million metric tons, helped by completion of seasonal maintenance on Russian refineries.
Russia's offline primary oil refining capacity for July at 2.5 million tons was below June's level by some 44 percent, according to Reuters calculations based on data from industry sources.
Since the European Union's full embargo on Russian oil products went into effect in February 2023, countries in Asia have been the main destination for Russia's fuel oil and VGO supplies. In July direct fuel oil and VGO shipments from Russian ports to China rose by 18 percent month-on-month to 0.7 million tons.
China imports straight-run fuel oil and VGO for refining feedstock, pooling it with Urals crude oil, according to market sources.
Loadings to Saudi Arabia almost doubled from June to 0.7 million tons, mostly destined for power generation plants during the hot summer season when power consumption is peaking, Reuters calculations and LSEG data show.
Russian fuel oil and VGO supplies to India decreased 7 percent in July to 0.48 million tons, while "dirty" oil product shipments to Fujairah rose to 320,000 tons from 200,000 tons, and to Turkey to 264,00 tons from 95,500 tons.
Fuel oil and VGO exports to South Korea from Russian Pacific ports increased to 118,000 tons from 36,200 tons in June, shipping data showed.
About 295,000 tons of VGO and fuel oil loaded in Russian ports in July went for ship-to-ship loadings near Greece and Malta. Most of those cargoes end up in Asia, market sources have said.
China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July, traders said and LSEG data showed on Friday.
Russian fuel oil and VGO seaborne exports last month rose 7 percent from June to about 4.05 million metric tons, helped by completion of seasonal maintenance on Russian refineries.
Russia's offline primary oil refining capacity for July at 2.5 million tons was below June's level by some 44 percent, according to Reuters calculations based on data from industry sources.
Since the European Union's full embargo on Russian oil products went into effect in February 2023, countries in Asia have been the main destination for Russia's fuel oil and VGO supplies. In July direct fuel oil and VGO shipments from Russian ports to China rose by 18 percent month-on-month to 0.7 million tons.
China imports straight-run fuel oil and VGO for refining feedstock, pooling it with Urals crude oil, according to market sources.
Loadings to Saudi Arabia almost doubled from June to 0.7 million tons, mostly destined for power generation plants during the hot summer season when power consumption is peaking, Reuters calculations and LSEG data show.
Russian fuel oil and VGO supplies to India decreased 7 percent in July to 0.48 million tons, while "dirty" oil product shipments to Fujairah rose to 320,000 tons from 200,000 tons, and to Turkey to 264,00 tons from 95,500 tons.
Fuel oil and VGO exports to South Korea from Russian Pacific ports increased to 118,000 tons from 36,200 tons in June, shipping data showed.
About 295,000 tons of VGO and fuel oil loaded in Russian ports in July went for ship-to-ship loadings near Greece and Malta. Most of those cargoes end up in Asia, market sources have said.
Saif
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Russia payment hurdles with China partners intensify
Some Russian companies are facing growing delays and rising costs on payments with trading partners in China, leaving transactions worth tens of billions of yuan in limbo, Russian sources with direct knowledge of the issue told Reuters.
Russia payment hurdles with China partners intensify
Banknotes of Chinese yuan and Russian rouble are seen amid flags of China and Russia in the illustration. Photo: Reuters/file
Some Russian companies are facing growing delays and rising costs on payments with trading partners in China, leaving transactions worth tens of billions of yuan in limbo, Russian sources with direct knowledge of the issue told Reuters.
Russian companies and officials for a few months have pointed to delays in transactions after Chinese banks tightened compliance following Western threats of secondary sanctions for dealing with Russia. The sources said the problem has intensified this month.
Chinese state banks are shutting down transactions with Russia "en masse" and billions of yuan worth of payments are held up, a source close to the government, who spoke on condition of anonymity, told Reuters.
China is Russia's largest trading partner, accounting for a third of Russia's foreign trade last year and supplying items such as vital industrial equipment and consumer goods that help Russia weather Western sanctions. It also provides a lucrative market for many Russian exports that China relies on, from oil and gas to agricultural products.
After the US Treasury in June threatened secondary sanctions on banks in China and other countries for dealing with Russia, Chinese banks started to take a very strict stance on transactions, said a source at one of Russia's leading e-commerce platforms. It sells a wide variety of consumer goods imported from China.
"At that moment, all cross-border payments to China stopped. We found solutions, but it took about three weeks, which is a very long time, trade volumes fell drastically during that time," said the source.
One working solution was to buy gold, move it to Hong Kong and sell it there, depositing cash in a local bank account, the person said.
Sources told Reuters that some Russian businesses have been using chains of intermediaries in third countries to handle their transactions and get around compliance checks run by Chinese banks. As a result, costs to process transactions have risen to as much as 6 percent of transaction payments, from close to zero before, they said.
The sources spoke on condition of anonymity because of the sensitivity of the matter.
"For many small companies, this means a complete shutdown," another source close to the government said.
The Kremlin acknowledged the problem but said that economic cooperation is important for both countries and that solutions will be found.
"With such volumes and in such an unfriendly environment, it is impossible to avoid some problematic situations," Kremlin spokesman Dmitry Peskov said in a statement to Reuters.
"However, the truly partnership spirit of our relations allows us to discuss and resolve current issues constructively," he said.
Transactions with China are not of grave concern to top Russian leadership, however, because payments in priority areas are still proceeding smoothly, and there is political will from both sides, a banking source told Reuters.Bilateral arrangements for large companies, such as Russia's commodity exporters and China's exporters of vital technologies, still work well, whereas smaller companies trading in consumer goods experience problems, sources said.
Russian exporters haven't experienced difficulties in receiving payments for commodities that China imports, such as oil or grain, another source close to the Russian government told Reuters.
Bilateral trade between Russia and China grew by 1.6 percent to $137 billion in the first half of 2024, according to China's official customs data, after hitting a record high $240 billion in 2023.
"Normal trade between China and Russia is consistent with WTO rules and market principles, is not directed against third parties and is not subject to interference or coercion by third parties," a Chinese foreign ministry spokesman told Reuters.
"We firmly oppose any illegal unilateral sanctions and "long-arm jurisdiction" and will take all necessary measures to safeguard our legitimate rights and interests," the spokesman added.
Russia's imports from China fell by more than 1 percent to $62 billion in January-July 2024 due to payment problems, according to China's official statistics.
Russia's central bank forecasts the country's total imports from around the world will fall by as much as 3 percent this year.
"Imports will decrease in 2024 due to the strengthening of sanctions barriers related to payments and logistics," the central bank said, although it predicted that the situation would improve in the medium term, according to draft monetary policy guidelines published on Aug. 29.After Russian President Vladimir Putin's visit to China in May, some local Chinese banks without a global business stepped in to handle bilateral payments. They would be out of the reach of Western sanctions enforcers.
However, sources pointed out that these banks often had outdated IT systems and lacked staff with the necessary skills.
The banking source said that cross-border couriers were shuttling transfer papers across the Russia-China border to get them physically stamped and signed by Chinese bankers.
"Until issues with payments are resolved at the state level, we cannot expect a dynamic inflow of investments from China," said Kirill Babaev, head of the China Institute at the Russian Academy of Sciences.
Research co-authored by Babaev and released this month highlights the risks posed to Russia's industrial sector where China has become a leading supplier.
"In today's situation, payment problems with Chinese banks particularly exacerbate this challenge, as there are no other major suppliers of many types of industrial equipment besides China at present," the research paper said.
Large companies in China as well as India are heavily dependent on American and European markets, Dmitry Birichevski, head of the economic department at Russia's foreign ministry, said at a conference in Moscow on Aug. 16.
"And they are being told, 'Guys, if you continue to work with Russia, we will cut off your access to our market and choke off your oxygen supply'," he said.
Banknotes of Chinese yuan and Russian rouble are seen amid flags of China and Russia in the illustration. Photo: Reuters/file
Some Russian companies are facing growing delays and rising costs on payments with trading partners in China, leaving transactions worth tens of billions of yuan in limbo, Russian sources with direct knowledge of the issue told Reuters.
Russian companies and officials for a few months have pointed to delays in transactions after Chinese banks tightened compliance following Western threats of secondary sanctions for dealing with Russia. The sources said the problem has intensified this month.
Chinese state banks are shutting down transactions with Russia "en masse" and billions of yuan worth of payments are held up, a source close to the government, who spoke on condition of anonymity, told Reuters.
China is Russia's largest trading partner, accounting for a third of Russia's foreign trade last year and supplying items such as vital industrial equipment and consumer goods that help Russia weather Western sanctions. It also provides a lucrative market for many Russian exports that China relies on, from oil and gas to agricultural products.
After the US Treasury in June threatened secondary sanctions on banks in China and other countries for dealing with Russia, Chinese banks started to take a very strict stance on transactions, said a source at one of Russia's leading e-commerce platforms. It sells a wide variety of consumer goods imported from China.
"At that moment, all cross-border payments to China stopped. We found solutions, but it took about three weeks, which is a very long time, trade volumes fell drastically during that time," said the source.
One working solution was to buy gold, move it to Hong Kong and sell it there, depositing cash in a local bank account, the person said.
Sources told Reuters that some Russian businesses have been using chains of intermediaries in third countries to handle their transactions and get around compliance checks run by Chinese banks. As a result, costs to process transactions have risen to as much as 6 percent of transaction payments, from close to zero before, they said.
The sources spoke on condition of anonymity because of the sensitivity of the matter.
"For many small companies, this means a complete shutdown," another source close to the government said.
The Kremlin acknowledged the problem but said that economic cooperation is important for both countries and that solutions will be found.
"With such volumes and in such an unfriendly environment, it is impossible to avoid some problematic situations," Kremlin spokesman Dmitry Peskov said in a statement to Reuters.
"However, the truly partnership spirit of our relations allows us to discuss and resolve current issues constructively," he said.
Transactions with China are not of grave concern to top Russian leadership, however, because payments in priority areas are still proceeding smoothly, and there is political will from both sides, a banking source told Reuters.Bilateral arrangements for large companies, such as Russia's commodity exporters and China's exporters of vital technologies, still work well, whereas smaller companies trading in consumer goods experience problems, sources said.
Russian exporters haven't experienced difficulties in receiving payments for commodities that China imports, such as oil or grain, another source close to the Russian government told Reuters.
Bilateral trade between Russia and China grew by 1.6 percent to $137 billion in the first half of 2024, according to China's official customs data, after hitting a record high $240 billion in 2023.
"Normal trade between China and Russia is consistent with WTO rules and market principles, is not directed against third parties and is not subject to interference or coercion by third parties," a Chinese foreign ministry spokesman told Reuters.
"We firmly oppose any illegal unilateral sanctions and "long-arm jurisdiction" and will take all necessary measures to safeguard our legitimate rights and interests," the spokesman added.
Russia's imports from China fell by more than 1 percent to $62 billion in January-July 2024 due to payment problems, according to China's official statistics.
Russia's central bank forecasts the country's total imports from around the world will fall by as much as 3 percent this year.
"Imports will decrease in 2024 due to the strengthening of sanctions barriers related to payments and logistics," the central bank said, although it predicted that the situation would improve in the medium term, according to draft monetary policy guidelines published on Aug. 29.After Russian President Vladimir Putin's visit to China in May, some local Chinese banks without a global business stepped in to handle bilateral payments. They would be out of the reach of Western sanctions enforcers.
However, sources pointed out that these banks often had outdated IT systems and lacked staff with the necessary skills.
The banking source said that cross-border couriers were shuttling transfer papers across the Russia-China border to get them physically stamped and signed by Chinese bankers.
"Until issues with payments are resolved at the state level, we cannot expect a dynamic inflow of investments from China," said Kirill Babaev, head of the China Institute at the Russian Academy of Sciences.
Research co-authored by Babaev and released this month highlights the risks posed to Russia's industrial sector where China has become a leading supplier.
"In today's situation, payment problems with Chinese banks particularly exacerbate this challenge, as there are no other major suppliers of many types of industrial equipment besides China at present," the research paper said.
Large companies in China as well as India are heavily dependent on American and European markets, Dmitry Birichevski, head of the economic department at Russia's foreign ministry, said at a conference in Moscow on Aug. 16.
"And they are being told, 'Guys, if you continue to work with Russia, we will cut off your access to our market and choke off your oxygen supply'," he said.
Lulldapull
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Russian weapon performance in Ukraine has seriously deflated its military might. We were all surprised and disappointed with what has happened over the last 2 years. In particular all their much hyped modern missile weaponry has been very underwhelming. It's a huge reality check for our military too that if Russian missiles did not perform as per brochure specs, what do we deduce about Chinese weaponry? It's something to ponder over.
Saif
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Russia calls US actions in Asia ‘destructive’ at ASEAN summit
Russian foreign minister Sergei Lavrov on Friday called US actions in Asia ‘destructive’, accusing Washington of being behind a ‘militarisation’ of Japan and attempting to turn...
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Russia calls US actions in Asia ‘destructive’ at ASEAN summit
Agence France-Presse . Vientiane, Laos 12 October, 2024, 01:03
Russian foreign minister Sergei Lavrov on Friday called US actions in Asia ‘destructive’, accusing Washington of being behind a ‘militarisation’ of Japan and attempting to turn other countries against Russia and China.
‘The destructive character of US actions in this part of the world is obvious,’ Lavrov told reporters at an East Asia Summit in Laos.
Asked about Japan’s proposal for a NATO-style Asian pact, Lavrov said: ‘Ideas about creating military blocs always carry risks of confrontation that could escalate’.
‘As far as Japan is concerned, we are seriously concerned about its militarisation. The Japanese are obviously being pushed to such a course by the United States,’ he said.
Lavrov also said the US, Japan, South Korea, New Zealand and Australia had attempted to make the summit’s final statement ‘deeply politicised’ and it therefore ‘could not be adopted’.
He said Western countries wanted to exploit their ties with ASEAN ‘above all against the interests of Russia and China’.
Meanwhile, a free election in junta-ruled Myanmar is currently ‘impossible to imagine’ a US diplomat said Friday, days after the junta chief doubled down on plans for fresh polls backed by close ally China.
The military seized power in 2021 after making unsubstantiated claims of electoral fraud and has since arrested and killed thousands and banned political parties in a sweeping crackdown on dissent.
It has said it will hold fresh polls, likely next year, even as it has lost territory across the country to established ethnic rebel groups and newer ‘People’s Defence Forces’ formed since the coup.
It is currently ‘impossible to imagine conducting a free election’ in Myanmar, United States Ambassador-at-Large for Global Criminal Justice Beth Van Schaack told reporters.
Any poll would ‘simply be an election that will return them [the military] to power,’ said Van Schaack, who advises the US government on responses to war crimes, crimes against humanity and genocide.
With clashes in almost every region of the country ‘it is hard to imagine even just logistically how one would administer an election, no less do so in a way that is fair,’ she said.
State media said Wednesday that junta chief Min Aung Hlaing ‘clearly reaffirmed’ the military’s plans to hold elections.
The military has pushed back a timetable for fresh polls several times, and in March the top general hinted any vote may not take place nationwide due to the conflict.
Junta officials are currently conducting a national census, which is seen as a pre-requisite to any new polls.
Any vote would not feature Aung San Suu Kyi’s hugely popular National League for Democracy party, which was dissolved by the junta-stacked election commission last year.
Agence France-Presse . Vientiane, Laos 12 October, 2024, 01:03
Russian foreign minister Sergei Lavrov on Friday called US actions in Asia ‘destructive’, accusing Washington of being behind a ‘militarisation’ of Japan and attempting to turn other countries against Russia and China.
‘The destructive character of US actions in this part of the world is obvious,’ Lavrov told reporters at an East Asia Summit in Laos.
Asked about Japan’s proposal for a NATO-style Asian pact, Lavrov said: ‘Ideas about creating military blocs always carry risks of confrontation that could escalate’.
‘As far as Japan is concerned, we are seriously concerned about its militarisation. The Japanese are obviously being pushed to such a course by the United States,’ he said.
Lavrov also said the US, Japan, South Korea, New Zealand and Australia had attempted to make the summit’s final statement ‘deeply politicised’ and it therefore ‘could not be adopted’.
He said Western countries wanted to exploit their ties with ASEAN ‘above all against the interests of Russia and China’.
Meanwhile, a free election in junta-ruled Myanmar is currently ‘impossible to imagine’ a US diplomat said Friday, days after the junta chief doubled down on plans for fresh polls backed by close ally China.
The military seized power in 2021 after making unsubstantiated claims of electoral fraud and has since arrested and killed thousands and banned political parties in a sweeping crackdown on dissent.
It has said it will hold fresh polls, likely next year, even as it has lost territory across the country to established ethnic rebel groups and newer ‘People’s Defence Forces’ formed since the coup.
It is currently ‘impossible to imagine conducting a free election’ in Myanmar, United States Ambassador-at-Large for Global Criminal Justice Beth Van Schaack told reporters.
Any poll would ‘simply be an election that will return them [the military] to power,’ said Van Schaack, who advises the US government on responses to war crimes, crimes against humanity and genocide.
With clashes in almost every region of the country ‘it is hard to imagine even just logistically how one would administer an election, no less do so in a way that is fair,’ she said.
State media said Wednesday that junta chief Min Aung Hlaing ‘clearly reaffirmed’ the military’s plans to hold elections.
The military has pushed back a timetable for fresh polls several times, and in March the top general hinted any vote may not take place nationwide due to the conflict.
Junta officials are currently conducting a national census, which is seen as a pre-requisite to any new polls.
Any vote would not feature Aung San Suu Kyi’s hugely popular National League for Democracy party, which was dissolved by the junta-stacked election commission last year.
Saif
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Seoul slams Russian move to ratify defence treaty with N Korea
South Korea’s foreign ministry voiced ‘grave concern’ Friday after Russia moved to ratify its defence treaty with North Korea, calling again on Moscow to stop its ‘illegal cooperation’ with Pyongyang.
www.newagebd.net
Seoul slams Russian move to ratify defence treaty with N Korea
Agence France-Presse . Seoul 25 October, 2024, 22:46
South Korea’s foreign ministry voiced ‘grave concern’ Friday after Russia moved to ratify its defence treaty with North Korea, calling again on Moscow to stop its ‘illegal cooperation’ with Pyongyang.
On Thursday, Russian lawmakers voted unanimously to ratify a defence treaty with North Korea that provides for ‘mutual assistance’ if either party faces aggression.
South Korea and the United States claim thousands of North Korean troops are training in Russia, with Ukraine saying this week that the soldiers have arrived in the ‘combat zone’ in Russia’s Kursk border region.
North Korea and Russia have previously denied the deployment.
Seoul ‘expresses grave concern over Russia’s ratification of the Russia-North Korea treaty amidst the on-going deployment of North Korean troops to Russia,’ the foreign ministry said in a statement.
It added that the South Korean government ‘strongly urges the immediate withdrawal of North Korean troops and the cessation of illegal cooperation’.
‘The government will work together with the international community to firmly respond to military cooperation between Russia and North Korea, and take appropriate measures as their military collaboration progresses,’ it said.
On Thursday, South Korean president Yoon Suk Yeol called the deployment a ‘provocation that threatens global security beyond the Korean Peninsula and Europe’, after talks with Polish President Andrzej Duda.
Yoon also said South Korea will ‘review’ its stance on providing weapons to Ukraine in its war with Russia, which the country has long resisted citing longstanding domestic policy.
North Korea has adopted a new national anthem, state media reported Friday, another move that experts suspect will further North Korean leader Kim Jong Un’s drive to define his country as entirely separate from, and in conflict to, the South.
North Korea amended its constitution to define the South as a ‘hostile’ state and last week blew up roads and railways that once connected the two countries.
Agence France-Presse . Seoul 25 October, 2024, 22:46
South Korea’s foreign ministry voiced ‘grave concern’ Friday after Russia moved to ratify its defence treaty with North Korea, calling again on Moscow to stop its ‘illegal cooperation’ with Pyongyang.
On Thursday, Russian lawmakers voted unanimously to ratify a defence treaty with North Korea that provides for ‘mutual assistance’ if either party faces aggression.
South Korea and the United States claim thousands of North Korean troops are training in Russia, with Ukraine saying this week that the soldiers have arrived in the ‘combat zone’ in Russia’s Kursk border region.
North Korea and Russia have previously denied the deployment.
Seoul ‘expresses grave concern over Russia’s ratification of the Russia-North Korea treaty amidst the on-going deployment of North Korean troops to Russia,’ the foreign ministry said in a statement.
It added that the South Korean government ‘strongly urges the immediate withdrawal of North Korean troops and the cessation of illegal cooperation’.
‘The government will work together with the international community to firmly respond to military cooperation between Russia and North Korea, and take appropriate measures as their military collaboration progresses,’ it said.
On Thursday, South Korean president Yoon Suk Yeol called the deployment a ‘provocation that threatens global security beyond the Korean Peninsula and Europe’, after talks with Polish President Andrzej Duda.
Yoon also said South Korea will ‘review’ its stance on providing weapons to Ukraine in its war with Russia, which the country has long resisted citing longstanding domestic policy.
North Korea has adopted a new national anthem, state media reported Friday, another move that experts suspect will further North Korean leader Kim Jong Un’s drive to define his country as entirely separate from, and in conflict to, the South.
North Korea amended its constitution to define the South as a ‘hostile’ state and last week blew up roads and railways that once connected the two countries.
Saif
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'A brave man': Putin congratulates Trump on election victory
Russian President Vladimir Putin on Thursday congratulated Donald Trump on his election victory in his first public comment on the US vote, and he praised the president-elect's courage during the July assassination attempt
'A brave man': Putin congratulates Trump on election victory
File photo
Russian President Vladimir Putin on Thursday congratulated Donald Trump on his election victory in his first public comment on the US vote, and he praised the president-elect's courage during the July assassination attempt.
"His behavior at the moment of an attempt on his life left an impression on me. He turned out to be a brave man," Putin said at an international forum following a speech in the Black Sea resort of Sochi.
"He manifested himself in the very correct way, bravely as a man," he added.
Putin also said that what Trump has said "about the desire to restore relations with Russia, to help end the Ukrainian crisis, in my opinion, deserves attention at least."
The Kremlin earlier welcomed Trump's claim that he could negotiate an end to the conflict in Ukraine "in 24 hours" but emphasised that it will wait for concrete policy steps.
″I would like to take this opportunity to congratulate him on his election as president of the United States of America," Putin said in a question-and-answer session at the conference.
As to what he expects from a second Trump administration, Putin said, "I don't know what will happen now. I have no idea."
"For him, this is still his last presidential term. What he will do is his matter," added Putin, who this year began a fifth term that will keep him in power until 2030 and could seek six more years in office after that.
Kremlin spokesman Dmitry Peskov said Thursday the Kremlin is not ruling out the possibility of contact between Putin and Trump before the inauguration, given that Trump "said he would call Putin before the inauguration."
Peskov has emphasised that Moscow views the US as an "unfriendly" country that is directly involved in the Ukrainian conflict. He dismissed arguments that Putin's failure to reach out quickly to Trump could hurt future ties, saying that Moscow's relations with Washington already are at the "lowest point in history" and arguing that it will be up to the new US leadership to change the situation.
The Kremlin's cautious stand reflected its view of the US vote as a choice between two unappealing possibilities. While Trump is known for his admiration of Putin, the Russian leader has repeatedly noted that during Trump's first term, there were "so many restrictions and sanctions against Russia like no other president has ever introduced before him."
File photo
Russian President Vladimir Putin on Thursday congratulated Donald Trump on his election victory in his first public comment on the US vote, and he praised the president-elect's courage during the July assassination attempt.
"His behavior at the moment of an attempt on his life left an impression on me. He turned out to be a brave man," Putin said at an international forum following a speech in the Black Sea resort of Sochi.
"He manifested himself in the very correct way, bravely as a man," he added.
Putin also said that what Trump has said "about the desire to restore relations with Russia, to help end the Ukrainian crisis, in my opinion, deserves attention at least."
The Kremlin earlier welcomed Trump's claim that he could negotiate an end to the conflict in Ukraine "in 24 hours" but emphasised that it will wait for concrete policy steps.
″I would like to take this opportunity to congratulate him on his election as president of the United States of America," Putin said in a question-and-answer session at the conference.
As to what he expects from a second Trump administration, Putin said, "I don't know what will happen now. I have no idea."
"For him, this is still his last presidential term. What he will do is his matter," added Putin, who this year began a fifth term that will keep him in power until 2030 and could seek six more years in office after that.
Kremlin spokesman Dmitry Peskov said Thursday the Kremlin is not ruling out the possibility of contact between Putin and Trump before the inauguration, given that Trump "said he would call Putin before the inauguration."
Peskov has emphasised that Moscow views the US as an "unfriendly" country that is directly involved in the Ukrainian conflict. He dismissed arguments that Putin's failure to reach out quickly to Trump could hurt future ties, saying that Moscow's relations with Washington already are at the "lowest point in history" and arguing that it will be up to the new US leadership to change the situation.
The Kremlin's cautious stand reflected its view of the US vote as a choice between two unappealing possibilities. While Trump is known for his admiration of Putin, the Russian leader has repeatedly noted that during Trump's first term, there were "so many restrictions and sanctions against Russia like no other president has ever introduced before him."
