Putin on the G7’s Financial Decline: Financial Power of the West Is Losing Its Grip

Russian President Vladimir Putin has challenged the economic dominance of the Group of Seven (G7), asserting that the G7 can no longer dictate global financial policies as BRICS has become the primary engine of world economic growth. Speaking at the BRICS summit in New Delhi, Putin noted that the bloc's collective contribution to global GDP has now surpassed 40%. This shift in economic weight, he argued, undermines the traditional Western-led governance model and necessitates a more balanced global economic system. The Russian leader framed this transition not merely as a statistical change, but as a structural shift in international relations. By highlighting the 40% GDP milestone, Putin pointed to a diminishing capacity of the G7 to impose unilateral economic standards on a world where emerging economies now hold significant leverage.