'I Don’t Know Why They Call Them That': Vladimir Putin Takes Swipe at G7, Praises BRICS Rise (Video)
Russian President Vladimir Putin delivered a sharp critique of the Group of Seven (G7) industrialized nations on Friday, questioning the bloc's economic dominance during his speech at the BRICS Business Forum in New Delhi.
Russian President Vladimir Putin delivered a sharp critique of the Group of Seven (G7) industrialized nations on Friday, questioning the bloc's economic dominance during his speech at the BRICS Business Forum in New Delhi. Speaking to business leaders and diplomats ahead of the official 18th BRICS Leaders' Summit hosted by India, Putin argued that shifting global economic dynamics have diminished the G7’s relevance compared to the expanding BRICS alliance.
The comments came as world leaders gathered at the Bharat Mandapam venue for the two-day summit centered on economic cooperation, global governance reform, and alternative cross-border payment mechanisms. BRICS Hand-in-Hand: PM Modi, Vladimir Putin, Masoud Pezeshkian, Other Leaders Walk Side by Side, Showcasing Bloc Unity.
Economic Weight Shifts toward Emerging Markets
During his address, Putin mocked the standing of the Western-led G7 grouping, pointing out the stark difference in global output contributions.
"I don't know why they call them that," Putin stated regarding the G7, highlighting that BRICS countries now account for nearly 40% of global gross domestic product (GDP) compared to the G7’s declining share.
He emphasized that the expanded 11-member BRICS grouping represents the world's most dynamic economic coalition, driven largely by rapid growth in major emerging markets like India and China. According to Russian and Indian economic data presented at the forum, BRICS members now command nearly half of the global population and over a quarter of international trade. ‘Eternal Wisdom Across Borders’: PM Modi Gifts Vladimir Putin Russian Translation of Tamil Classic ‘Thirukkural’.
'I Don’t Know Why They Call Them That'
"Don't get it why they call it the “Great” Seven?" — Putin
Over the last five years, BRICS has accounted for about 40% of world GDP (PPP). The so-called G7 — 29%, President Putin told the BRICS Business Forum. pic.twitter.com/VvTMdniMmk
— Sputnik India (@Sputnik_India) September 11, 2026
Criticisms of Western Policies and Trade Pressures
The Russian President also targeted Western economic policies, characterizing unilateral sanctions and restrictive monetary frameworks as outdated tools of coercion. He urged member nations to accelerate the integration of financial infrastructure to safeguard their economies from external geopolitical shocks.
Key financial discussions at the forum centered on expanding bilateral trade settlements using national currencies to systematically reduce reliance on the U.S. dollar. Delegates focused on enhancing payment task forces to achieve cross-border interoperability, making inter-bloc banking transactions faster, cheaper, and more secure. Additionally, discussions prioritized securing critical energy, agriculture, and raw material corridors to bolster overall supply chain resilience amid ongoing international trade friction.
Bilateral Talks and High-Stakes Diplomacy
Putin’s arrival in India marks his first in-person participation at an overseas BRICS summit since 2022. Shortly after his address at the Business Forum, Putin met with Indian Prime Minister Narendra Modi for high-level bilateral talks aimed at expanding annual bilateral trade and deepening energy cooperation.
The New Delhi summit brings together leaders from across the expanded bloc—including Chinese President Xi Jinping, South African President Cyril Ramaphosa, and Iranian President Masoud Pezeshkian—as India concludes its 2026 BRICS Chairship under the theme of resilience and sustainable growth.
(The above story first appeared on LatestLY on Sep 11, 2026 07:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
