4 October 2023

President of the Russian Federation Vladimir Putin Meets with Finalists of the International Financial Security Olympiad

Vladimir Putin addressed the Peer-to-peer talks plenary session held as part of the III International Financial Security Olympiad, where he met with the finalists of the competition.

The International Financial Security Olympiad has been annually held since 2021. It was initiated by the Federal Financial Monitoring Service and has attracted high school and college students to its final round. This year, the competition welcomed over 500 students from 19 countries. Apart from individual assignments, the final round encompasses interactions with invited experts and potential employers, master classes, panel discussions, excursions, and sports events.

* * *

Vladimir Putin extended his greetings:

Good afternoon, dear friends!

I am delighted to welcome all of you to the final stage of the International Financial Security Olympiad. Here, I see a group of remarkably young individuals dealing with profoundly significant subject — security, financial security in particular.

This intellectual competition has brought together gifted young schoolchildren and students for the third time at the Sirius educational center. I am pleased to note that with each passing year, the participation of contestants is steadily expanding. It’s not just limited to participants from nearly every region of Russia; we also have contestants from other countries.

This practice of international communication, academic cooperation, and establishing amicable partnerships in such a significant and sensitive field holds tremendous value. This is especially true now when financial security is becoming an increasingly crucial, complex, extensive, and, without exaggeration, colossal task. Its resolution necessitates collective efforts and a high level of education across diverse areas of specialization.

You are well aware that the financial sector is currently experiencing rapid advancements in innovative solutions and technologies, such as digital currency, digital financial assets, new payment services, and financial settlement models that utilize blockchain technology, commonly known as distributed ledger technology.

I would like to emphasize once more that, particularly in the realm of international economic collaboration, mutual trust and respect for one another’s interests are of utmost importance. With a solid foundation in place, revolutionary technological approaches enable the establishment of a genuinely unique system for financial settlements. This, in a broader perspective, contributes to an innovative infrastructure of global economic, trade, industrial, and scientific cooperation.

Notably, there are precedents of such collaborative initiatives. One promising example is a joint project involving several central banks in Asia and the Middle East, which enables them to issue and exchange their own digital currencies. This ensures that no third party can manipulate or interfere with payments, such as blocking transactions, seizing accounts, or misappropriating funds, as unfortunately occurs in the modern world. These actions are typically perpetrated by self-assured adults, individuals who obviously are not very smart if they take these wrongful actions, ultimately causing harm to themselves.

However, I am confident that experts like yourselves, specializing in financial security, possess not only the capability to tackle the most intricate competition challenges but also to propose your own imaginative and daring ideas to captivate sophisticated financial security professionals. I am sure your ideas will help establish a new, independent national and global financial framework.

It is worth noting that following our meeting, there will be the Valdai International Discussion Club meeting, which is likely familiar to you, even though many of you are young and still in school. Last year the venue discussed promising international financial platforms and financial payment systems of the future that operate beyond national jurisdictions, thereby more secure and reliable, free from the influence of specific world currencies, particularly the US dollar, and hence unscrupulous foreign influence.


Such mechanisms are emerging and actively developing. The volume of cross-border settlements in national currencies among countries is steadily rising.

The world is gradually breaking free from the dominance of a financial and economic model that primarily drives entire regions into debt and servitude, converting them into economic colonies and depriving them of the resources needed for development.

I believe that very few people desire such a future. Therefore, the process of constructing a multipolar world, one that is more democratic, equitable, and just for the majority of humanity, is both inevitable and historically imperative. This extends to the establishment of robust economic foundations for this world order.

Moreover, modern technologies offer entirely new opportunities for citizens, the business community, and nations to establish and support public and financial institutions that represent this emerging multipolar reality. These technologies enable the development of more convenient and secure international payment systems.

Nevertheless, the proliferation of such technologies presents entirely new challenges to address new threats. This poses a practical challenge for all of us, particularly for individuals like yourselves who are actively engaged in this field.

Participation in the Olympiad movement undoubtedly equips each of you with skills in the realms of information security and cybercrime prevention, skills that are highly sought-after today and will remain in demand in the future. It also serves to increase your levels of financial and legal competence.

Experienced professionals like you—and I am confident that among you, there are indeed professionals, and many will surely become highly accomplished ones—are necessary for the state, major corporations, small high-tech enterprises, and startups.

We will wholeheartedly support this endeavor and continue to develop the national education system in alignment with the strategic interests of the country, with the goal of achieving technological sovereignty and leadership in key areas. We will nurture our talents, particularly mathematicians, engineers, and programmers—individuals whom artificial intelligence can never do without.

We will ensure that your educators and mentors remain in step with you, continually enhancing their qualifications, and, naturally, sharing best practices while implementing effective and advanced training programs.

These innovative and unique methodologies are currently under development at Sirius, right here at the Sirius Education Center. Esteemed teachers, mentors, leading scientists, and high-tech Russian companies are directly involved in this vital work.

I would like to highlight, in particular, the experimental IT program. This program will allow interested high school students not only to complete a full general education curriculum but also to attain a highly sought-after IT qualification simultaneously.

I have absolutely no doubt that educational models like these require further refinement and expansion, and we will certainly pursue their development and dissemination.

During the qualifying round, each of you faced serious competition, demonstrating not only preparedness but also character, which is an essential quality for success in any competition, whether in the realm of traditional sports or in any other field.

By competing against worthy rivals, you tackle unusual tasks and assess your knowledge at the intersection of economics, law, international relations, mathematics, and computer science. Additionally, you have the opportunity to engage directly with financial security experts, participate in panel discussions and master classes.

I extend my best wishes for success in the finals. May you make a resounding impression with your talents and professional potential. I am confident that the competitive spirit will imbue you with strength and self-assurance, enabling you to achieve exceptional results in this year’s finals and offering promising prospects for your future, both in your chosen profession and in life.

I wish you success. Thank you.


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