Vladimir Putin, the President of Russia has claimed that the neglect of norms and loss of confidence in the world economy can become the reasons for the new crisis the world has never faced before. He claimed this at St. Petersburg international economic forum as RIA News reported.
'The withdrawal of one party of the contract from the legal framework, deal-breakers always mean the significant risks and costs. It is the axiom of the business practices. Globally, such behavior of the states, especially centers of power, is fraught with the most negative or even destructive consequences. Moreover now, when the neglect of present norms and loss of confidence can overlay the unpredictability and turbulence of the major changes. Such confluence of the factors can lead to the systematic crisis that the world has never faced before', Putin said.
Earlier, Russia announced about the termination of the agreement with Ukraine on the mutual deliveries of weapons and military equipment.
The Cabinet of Ministers terminated the Programme on economic cooperation between Ukraine and Russia for 2011-2020 on March 21.
Also, Russia offered to denounce the Agreement on friendship, cooperation and partnership between Ukraine and Russiain the part where countries recognize the territorial borders of each other. Leonid Kravchuk, the first president of Ukraine commented this.