Putin Advocates Multipolar World at SCO Summit, Challenges US Financial Dominance

Russian President Vladimir Putin used the Shanghai Cooperation Organization (SCO) summit in Tianjin to call for a decisive shift away from a US-dominated financial system. "The unipolar model fails to deliver justice," Putin declared, framing the SCO's trade deal revisions as foundational steps toward equitable economic architecture.

The 10-member alliance—spanning China, Russia, and emerging economies—signaled growing coordination to reduce dollar dependence. Anti-US sentiment surfaced repeatedly during discussions, with multiple leaders criticizing Western trade policies as exclusionary.

Market analysts note such geopolitical realignments historically catalyze cryptocurrency adoption. When nation-states challenge dollar hegemony, capital often flows into decentralized assets as hedges against currency wars.