Putin's Criticism of G7 at BRICS Business Forum
Russian President Vladimir Putin made statements about the global economy and the policies of Western countries at the BRICS Business Forum held in New Delhi.
Quick Look
- Russian President Vladimir Putin criticized the West's sanctions policies, stating that the share of G7 countries in the global economy has decreased at the BRICS Business Forum in New Delhi.
- Putin also met with Indian Prime Minister Narendra Modi.
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Why It Matters
While BRICS countries constitute a significant portion of global GDP, they are in economic competition with the G7. Russia was subjected to intense sanctions from the West after the Ukraine war.
According to the statement made by the Kremlin Palace, Putin attended the BRICS Business Forum held in New Delhi, the capital of India.
Speaking at the forum, Putin pointed out the importance of BRICS and said, "While 40 percent of the world's Gross Domestic Product (GDP) belongs to the BRICS countries, the share of the G7 is 29 percent. I do not understand why the G7 is called large. In the same period, almost half of the growth in the world economy was provided by the countries in our partnership, while the share of the G7 was only 18 percent." made his assessment.
Putin criticized the actions of Western countries and said:
"Western rivals are using all means to regain their past leadership position. Competition has reached unpleasant levels today. Steps are being taken to destroy industrial and logistics facilities and pipelines. Attempts are being made to block international transportation corridors and seize maritime vessels. Sanctions are being imposed against those who defend their national interests."
Noting that more than 30 thousand sanctions have been imposed on Russia, Putin stated that his country continues to develop under difficult conditions.
President Putin stated that the capabilities of BRICS should be used and that the organization is open to all countries.
Russian President Vladimir Putin met with Indian Prime Minister Narendra Modi in the capital New Delhi.
Open Questions
- Will a concrete economic integration step be taken among the BRICS countries?
- How will G7 countries respond to these criticisms?
