North Korea, Russia to develop alternative settlement system, says Putin

Russian President Vladimir Putin and North Korean leader Kim Jong-un shake hands during their meeting at the Vostochny Cosmodrome on Sept. 13, 2023. [AFP/YONHAP]

 
Russian President Vladimir Putin said on Tuesday that Russia and North Korea will "develop an alternative settlement system that is not controlled by the West” and jointly oppose “illegitimate” restrictive measures ahead of his first visit to North Korea in 24 years.
 
Putin made the remarks in an article published in Rodong Sinmun, a state-run newspaper, on Tuesday, as his two-day visit to Pyongyang kicks off the same day.
 
This appears to mean that Russia and North Korea, which are both subject to financial sanctions from the international community, should establish their own trade and payment systems so as not to be influenced by the U.S.-centered international financial system and the dollar, the key currency.
 
“As our reliable comrade and supporter yesterday and today, Pyongyang is willing to resolutely oppose the ambition of the ‘Western group’ to hinder the establishment of a multi-polarized world order based on mutual respect for justice and sovereignty and consideration of mutual interests,” said Putin in the article. “We are firmly convinced that we will put bilateral cooperation onto a higher level with our joint efforts.”
 
He also emphasized that Russia will continue to support North Korea and is willing to work closely with it to make international relations more “democratic and stable.”
 
Additionally, Putin declared that Russia would increase cooperation and exchanges with North Korea in fields including tourism, education, and culture.
 
Earlier, Kremlin press secretary Yuri Ushakov said that Putin is likely to "important" documents with North Korean leader Kim Jong-un on Wednesday, most likely a treaty on a comprehensive strategic collaboration, according to Russia’s TASS news agency.
 

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]