Putin Says BRICS Has Surpassed G7 In Economic Influence

Russian President Vladimir Putin has declared that the BRICS alliance has outpaced many global blocs, including the Group of Seven (G7), in economic performance.

According to the TASS news agency, Putin made these remarks on Sunday, July 6, during a virtual speech to BRICS members, calling for enhanced cooperation in natural resources, trade, and the use of national currencies.

He emphasized the importance of continuing collaboration in key areas such as politics, security, economics, finance, culture, and humanitarian efforts.

Putin highlighted that the expanded BRICS now includes leading nations from Eurasia, Africa, the Middle East, and Latin America, boasting vast political, economic, scientific, technical, and human potential.

The upcoming BRICS summit is being hosted by Brazil on July 6 and 7, where member countries are expected to outline future strategies for deeper integration.

BRICS, originally founded in 2009 by Brazil, Russia, India, China, and South Africa, was created as a counterbalance to Western-dominated financial institutions and geopolitical alliances.

Over the years, the bloc has pushed for a more multipolar world order and greater representation of developing economies in global decision-making bodies like the IMF and World Bank.

The alliance has recently expanded to include several new members, including countries from the Global South, signaling its growing influence and ambition to reshape global economic and political structures.

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