Russia to strengthen economic sovereignty in 2020s: Putin

MOSCOW, June 6 (Xinhua) -- Russian President Vladimir Putin said Monday that the 2020s would be a time for his country to strengthen its economic sovereignty.

Russia will speed up the development of infrastructure and key technology and establish an independent and efficient financial system, Putin said in a message to the upcoming 25th St. Petersburg International Economic Forum (SPIEF).

"The Russian economy will increasingly rely on private initiatives and, of course, will remain committed to transparency and broad international cooperation," he added.

Meanwhile, Putin criticized the illegitimate sanctions and economic policy "mistakes" of Western countries, which have led to "a wave of global inflation, the disruption of usual supply chains and a sharp increase in poverty and food shortages."

The 25th SPIEF will be held in St. Petersburg from June 15 to 18.