Putin highlights growth of the Russian economy and criticizes Western sanctions at BRICS summit

Russian President Vladimir Putin participated this Friday (11) in the Brics Summit business forum in New Delhi, India. It is his first in-person participation outside of Russia in seven years.

In his speech at the opening of the summit, the Russian leader noted that the BRICS countries represent more than 40% of global GDP, while the G7 contributed 29%. The president also emphasized that half of global economic growth came from the BRICS countries.

Vladimir Putin also highlighted the current situation of the Russian economy and its resilience to Western sanctions, highlighting the potential of the group of emerging countries on the international stage.

He used his speech to criticize Western countries’ sanctions policy against Russia, noting that these countries are now facing an economic recession. The Russian head of state declared that the main economies of the European Union reduced industrial production by 8%.

“The countries that initiated sanctions are facing an economic recession and can no longer pursue an innovation policy similar to that of Russia. The main eurozone economies have reduced industrial production by 8%, which represents a significant decline,” Putin said.

At the same time, the Russian leader noted that the West is imposing illegal restrictions, along with threats of so-called “secondary sanctions”, against countries that do not agree to act in furtherance of the goals of others, but rather in defense of their own national interests. He specified that Western countries are trying to block international transport corridors and seize vessels.

The Russian President noted that Russia has strengthened its sovereignty and found reliable partners on the international stage. According to him, after structural changes, the Russian economy “achieved positive results”, surpassing the global growth average.

“Structural changes have been implemented in the Russian economy, making it stronger, more resilient and more dynamic. As a result, Russia’s economic growth has exceeded the global average over the past three years, and from 2023 to 2025, GDP grew by 10.3%,” Putin said.

The opening of the Brics Business Forum was also attended by Chinese President Xi Jinping, Iranian President Masoud Pezeshkian and Indian Prime Minister Narendra Modi.