Vladimir Putin's Key Highlights at St Petersburg Economic Forum

President Vladimir Putin addressed key issues at Russia's St Petersburg Economic Forum, highlighting Ukraine's legitimacy, nuclear doctrine, arms supplies, global leadership, foreign trade, and the financial sector. He emphasized peace talks with Ukraine and criticized the U.S. economic policies, while advocating for increased use of national currencies in trade.

President Vladimir Putin spoke at Russia's flagship annual economic forum in St Petersburg on Friday.

Here are highlights from his speech. ON UKRAINE

"A brief analysis of the constitution of Ukraine shows that the current Ukrainian authorities have lost their legitimacy. It seems like we are dealing with the usurpation of power." "All armed conflicts end with peace talks."

"We are ready for talks, but on the same conditions we discussed first in Minsk and then in Istanbul and not on some made-up ones. However, even with the Istanbul (agreements) as the basis, we must take into account the realities of today." "Military mobilisation is unnecessary (in Russia) and we do not plan it."

ON NUCLEAR CONFRONTATION WITH THE WEST "We have a nuclear doctrine which states that the use of nuclear arms is possible in an exceptional case, when the sovereignty and territorial integrity of our country is threatened."

"But the doctrine can be changed. The same applies to nuclear tests. We will carry out tests if needed, but so far there is no such need." "We have many more (tactical nuclear weapons) than there are on the European continent, even if the United States bring theirs over."

"(In the event of tactical nuclear strikes by Russia and European countries against each other) will the United States get engaged and use their strategic weapons? I really doubt that. But I hope this is never going to happen." "I would like to ask everyone not to speak of the possibility of using nuclear weapons in vain."

ON CONVENTIONAL ARMS SUPPLIES TO THE WEST'S ADVERSARIES "We are not supplying those weapons yet, but we reserve the right to do so... to those countries or legal entities that are under pressure from the countries that supply weapons to Ukraine and encourage their use on our territory. I am not ready to say that we will do that (start supplies) tomorrow."

ON GLOBAL LEADERSHIP "...Countries that until recently were the leaders of global development are trying to maintain their fleeting hegemony using all means, good and bad. There is nothing unusual about a country or a person trying to maintain and strengthen their positions. It is bad when then use unfair means to achieve it and good when they use fair means."

"...The United States is exploiting its monopoly position in the global financial market. The United States owes the world economy $54.3 trillion." "...Because it (the U.S. economy) is shrinking, its share in the world economy is shrinking, it is absolutely natural that the world economy and finance is moving towards a multi-polar system."

"...The United States authorities are just like luddites in England who broke their own equipment. Today's U.S. authorities are modern luddites, they are destroying the tools of their own greatness." "The dollar is one of a few tools of the United States' greatness today. They are driving global economic players away from the dollar."

ON FOREIGN TRADE "Overall, countries friendly to Russia, those are the ones we need to pay most attention to, the countries that are growing fast and will shape the future of the global economy, those countries account for more than three quarters of our trade turnover."

"Last year, the share of the so-called 'toxic' currencies of unfriendly nations in payments for Russian exports halved. Meanwhile, the share of the rouble in export and import payments is rising, it is approaching 40% now." "Together with our foreign partners we will increase the use of national currencies in foreign trade settlements, increase the security and efficiency of such operations, including within the framework of BRICS. We are working on creating an independent payments system that would be immune to political pressure, abuse, and external interference through sanctions."

ON THE FINANCIAL SECTOR "The task has been set: the capitalisation of Russia's stock market must roughly double by the end of this decade and reach two-thirds of the gross domestic product."

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