<p>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.</p><p>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.</p><p>“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.</p><p>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.</p><p>“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.</p><h2><strong>Putin says BRICS outpaces G7</strong></h2><p>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.</p><p>“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.</p><p>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.</p><h2><strong>Putin highlights BRICS corporate power</strong></h2><p>Putin attributed the bloc’s growth to its large population, expanding domestic markets and rapid urbanisation.</p><p>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.</p><p>“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.</p>

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 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.

<p>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.</p>

Putin accuses West of ‘ugly’ economic warfare, says BRICS is outpacing G7

<p>After PM <a href="https://www.wionews.com/india-news/must-ensure-countries-supporting-terrorists-are-held-accountable-pm-modi-at-brics-343715">Modi </a>addressed the 12th&nbsp;BRICS conference through video conferencing, Chinese President Xi <a href="https://www.wionews.com/videos/prime-minister-narendra-modi-and-chinese-president-xi-jinping-to-attend-virtual-summit-of-brics-343637">Jinping</a> speaking at the summit said that "BRICS countries must stand up for equity and justice in the world."</p>

<p><strong>Watch:</strong></p>

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<p>"The world is caught between a pandemic of the century and momentous changes never seen in the last one hundred years. The international landscape keeps evolving in profound ways. &nbsp;Human society is going through the most serious pandemic in the past century," the Chinese president said, adding,"The world economy is witnessing the worst recession since the <strong>Great Depression</strong> in the 1930s."&nbsp;</p>

<p><a href="https://www.wionews.com/world/india-and-china-may-start-producing-sputnik-v-vaccine-russian-president-putin-343716">Also Read |&nbsp;India and China may start producing Sputnik V vaccine: Russian President Putin</a></p>

<p>The Chinese president said that his country is&nbsp;prepared to cooperate with India over the coronavirus vaccine.</p>

<p>"Prepare to have cooperation with India on the <strong>vaccine</strong>," Xi Jinping&nbsp;said.</p>

<p>"We remain convinced that the theme of our times, peace and development has not changed and that the trend toward multipolarity and economic globalization cannot be turned around. We must keep people's welfare close to heart and pursue the vision of a community with a shared future for mankind," the <strong>Chinese president</strong> asserted.</p>

<p>"Through concrete actions, we will contribute our share to making the world a better place. Facing the choice between multilateralism and unilateralism, and between justice and hegemony, BRICS countries must stand up for equity and justice in the world," <strong>Xi Jinping</strong>&nbsp;said.</p>

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<p>"We must hold high the banner of multilateralism and defend the purposes and principles of the Charter of the <strong>UN</strong>. We must endeavour to safeguard the UN-centered international system and the international order underpinned by international law. It is important that countries rise above ideology and respect each other's choices of social system, economic model and development path consistent with their national conditions," the Chinese president said.</p>


After PM Modi addressed the 12th BRICS conference through video conferencing, Chinese President Xi Jinping speaking at the summit said that "BRICS countries must stand up for equity and justice in the world.

After PM Modi addressed the 12th BRICS conference through video conferencing, Chinese President Xi Jinping speaking at the summit said that "BRICS countries must stand up for equity and justice in the world." Watch: "The world is caught between a pandemic of the century and momentous changes never seen in the last one hundred years. The international landscape keeps evolving in profound ways. Human society is going through the most serious pandemic in the past century," the Chinese president said, adding,"The world economy is witnessing the worst recession since the Great Depression in the 1930s." Also Read | India and China may start producing Sputnik V vaccine: Russian President Putin The Chinese president said that his country is prepared to cooperate with India over the coronavirus vaccine. "Prepare to have cooperation with India on the vaccine," Xi Jinping said. "We remain convinced that the theme of our times, peace and development has not changed and that the trend toward multipolarity and economic globalization cannot be turned around. We must keep people's welfare close to heart and pursue the vision of a community with a shared future for mankind," the Chinese president asserted. "Through concrete actions, we will contribute our share to making the world a better place. Facing the choice between multilateralism and unilateralism, and between justice and hegemony, BRICS countries must stand up for equity and justice in the world," Xi Jinping said. × "We must hold high the banner of multilateralism and defend the purposes and principles of the Charter of the UN. We must endeavour to safeguard the UN-centered international system and the international order underpinned by international law. It is important that countries rise above ideology and respect each other's choices of social system, economic model and development path consistent with their national conditions," the Chinese president said.

Prepared to cooperate with India on vaccine, says Chinese President Xi Jinping at BRICS

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Putin accuses West of ‘ugly’ economic warfare, says BRICS is outpacing G7

Prepared to cooperate with India on vaccine, says Chinese President Xi Jinping at BRICS