This was stated by Russian President Vladimir Putin during a speech at the Russia-Latin America conference.

According to him, the governments of the countries of the "golden billion" exploit almost all other states. The President noted that international financial institutions are built in such a way that it is unprofitable for anyone except the "golden billion".

"They are abusing their position — technological, informational, and financial," Putin added.

Earlier, he said that BRICS is not a military alliance, but a platform for developing positions based on respect for each other and sovereignty.