Putin accuses West of ‘ugly’ economic warfare, says BRICS is outpacing G7
&imwidth=600&imheight=450&format=webp&quality=medium "Putin accuses West of ‘ugly’ economic warfare, says BRICS is outpacing G7")
Prime Minister Narendra Modi and Russian President Vladimir Putin exchange a handshake during a bilateral meeting on the sidelines of the BRICS Summit 2026, in New Delhi on Friday. Photograph: (ANI)
Putin accused the West of “ugly” economic warfare and said BRICS now accounts for over 40 per cent of global GDP, outpacing the G7’s 29 per cent share.
Russian President Vladimir Putin on Friday (Sep 11) slammed the “ugly” economic warfare by Western nations, accusing them of undermining fair economic competition through sanctions, restrictions on trade routes and other measures. He also hailed BRICS as steadily becoming a bigger force in the global economy. The Russian president also compared the growth of BRICS countries, which make up 40 per cent of the global GDP, to that of the 29 per cent share of G7 nations.
Speaking at the BRICS Business Forum in New Delhi, Putin said competition had increasingly taken “ugly forms”, including physical attacks on infrastructure and attempts to restrict international transport.
“Sometimes there are measures resorted to of a physical nature, when pipelines are being destroyed, when attempts are undertaken to block international transport corridors, to seize maritime vessels, other illegal restrictions are being applied,” Putin said.
He also pointed to the use of secondary sanctions against countries that refuse to align their policies with Western interests. Putin claimed Russia has faced more than 30,000 sanctions, describing the figure as twice the number imposed on all other countries combined.
“We’re not against anyone, and what we are doing is not against anyone either. We are in favour of our interests, and we stand ready to work together with all of our partners, old ones and new ones,” he said.
Putin says BRICS outpaces G7
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Putin also used the summit to highlight what he described as the growing economic weight of BRICS compared with the Group of Seven. He said BRICS countries accounted for more than 40 per cent of global GDP over the past five years, while the G7 contributed 29 per cent.
“Over the last five years, more than 40 per cent of the world GDP has been produced by the BRICS countries, whereas the contribution of the so-called G7, the Group of Seven, I don't know why they call that the Group of Seven, stands at only 29 per cent,” Putin said.
According to Putin, BRICS countries also accounted for more than half of global economic growth during the period, compared with 18 per cent for the G7.
Putin highlights BRICS corporate power
Putin attributed the bloc’s growth to its large population, expanding domestic markets and rapid urbanisation.
He cited Indian company Mahindra, China’s Huawei, Brazil’s Embraer, UAE-based DPO and Russia’s Rosatom as examples of BRICS businesses gaining international influence.
“There are many other success stories from our business community, but behind each and every one of them is hard work on a daily basis,” Putin said.
