Russian President Vladimir Putin took a swipe at the Group of Seven (G7) on Friday, contrasting its declining share of the global economy with BRICS’s growing economic weight.
Addressing the BRICS Business Summit 2026 in New Delhi, Putin said G7 countries accounted for about 18% of global economic output, compared with nearly 40% for BRICS members.
“I don’t know why they call them that,” Putin remarked, questioning the grouping’s continued relevance.
Notably, Russia was a member of what was then the G8 until it was expelled following its annexation of Crimea in 2014, after which the grouping reverted to the G7.
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Putin described BRICS as the world’s largest economic bloc, saying its members were gaining strength and influence as the global order shifts. Highlighting India’s growing contribution to the global economy, he said the world was undergoing a major economic transformation, adding that BRICS remained open to cooperation with countries outside the grouping.
The Russian president also accused Western nations of attempting to regain their former economic dominance by undermining BRICS countries.
“Western competitors of BRICS are trying to regain their former leadership, and this struggle is taking an unseemly turn at the governmental level,” Putin said.
He further accused Western countries of imposing unfair sanctions on Russia, asserting that Moscow had maintained its economic performance despite the restrictions.
The Russian President also called for greater cooperation among BRICS members as the global economic order continues to evolve.
