Putin sees G20 as beneficial format for cooperation

Russian President Vladimir Putin Friday said the upcoming summit G20 summit is a good place for discussing both bilateral relations and affairs of global concern.

Noting that the summit, slated to start Saturday in Brisbane, Australia, is an economic forum "first and foremost", Putin said the forum was still quite in demand, though decisions made there were not mandatory, and some were even neglected to some extent, Xinhua reported.

He slammed the sanctions imposed on Russia by Western powers, saying those counter-productive measures violated the principles of the G20 as well as international law.

Meanwhile, Putin said he would not raise the issue on his own initiative in Brisbane as "it will be useless".

"Such decisions are made at the level of blocs and at the national level, they are made on the basis of our partners' understanding of their geopolitical interests," he said.

"I believe that's just a mistake, even from the standpoint of their geopolitical interests," he added.

The sanctions will produce a boomerang effect, hurting those who imposed them as well as the international economic relations in general, he said.

Putin, who had arrived in Brisbane earlier in the day, repeatedly said the international community should join hands in tackling numerous issues facing the world.

"One and all should be aware that the world economy and finance these days are exceptionally dependent on each other," he said.