“Our future is being shaped by a struggle, a struggle between the global majority in favor of a fairer distribution of global benefits and civilized diversity and between the few who wield neocolonial methods of subjugation in order to maintain their domination which is slipping through their hands,” he said.

I mean, he's not factually wrong, just framing it in reverse. Russia is indeed trying to colonize Ukraine to maintain their dominion which is slipping through their hands. It's just not using neocolonial methods but good old armed conquest.

And the people in favor of a fairer distribution of global benefits aren't the people he's thinking of. I mean it's also clearly not the US, but "taking what Ukraine has and giving it to Russian Oligarchs" is also not a fairer distribution.