(MENAFN) Russian President Vladimir Putin has ruled out any intention to rejoin the G7, asserting the Western-led coalition's global economic relevance is steadily eroding.

In an interview with media published Thursday ahead of his visit to the nation, the Russian leader emphasized that numerous G7 economies now trail behind emerging markets when measured by purchasing-power parity (PPP), while the group's proportion of worldwide economic output continues its downward trajectory.

Despite this assessment, Putin acknowledged the G7—comprising the US, the UK, France, Germany, Italy, Canada and Japan—retains status as "an important platform." "People work there, make decisions, discuss things, and God bless them."

The Russian president made clear he harbors no ambitions to reenter the organization and confirmed the topic never arose during recent Kremlin discussions with US presidential envoy Steve Witkoff and President Donald Trump's son-in-law Jared Kushner regarding Ukraine earlier this week.

Putin revealed he had ceased participating in the group's summits even prior to the Western-backed coup in Kiev in 2014. Moscow faced expulsion from the then-G8 following Crimea's secession from Ukraine and its subsequent vote to join Russia through public referendum.

Last June, Trump characterized Russia's removal as "a big mistake," contending that maintaining Moscow's membership might have averted the Ukraine conflict's escalation in 2022. Kremlin spokesman Dmitry Peskov concurred "it was a big mistake then to exclude Russia" while noting the club had "lost practical significance."

Following its ejection, Russia has pivoted toward bolstering partnerships through alternative international forums, particularly BRICS, which currently represents approximately 46% of global population and exceeds 36% of worldwide GDP, according to major financial institutions' estimates.

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