Putin says BRICS produced over 40% of world GDP, criticizes “so-called G-7”

Source: The Economic Times | Original Published At: 2026-09-12 01:53:00 UTC

Key Points

• Russian President Vladimir Putin addressed the BRICS Business Forum ahead of the 18th BRICS Summit.
• Putin said BRICS countries produced more than 40% of global GDP over the past five years, compared with 29% for the G-7.
• He said BRICS accounted for more than half of the world's population and more than half of global economic growth over the same period.
• Putin described the G-7 as the "so-called G-7" and said BRICS countries have dynamic and vibrant domestic markets.
• He condemned sanctions imposed on Russia, claiming more than 30,000 sanctions have been applied to Russia.
• Putin warned about possible secondary sanctions on countries, including India, that import Russian oil.
• He said Russia's economic growth over the past three years had been above the world average and that Russia was strengthening ties with reliable partners.