Putin: BRICS Trade Exceeds $1T, Covers 40% of Global Economy

Russian President Vladimir Putin announced at the St. Petersburg International Economic Forum that mutual trade among BRICS members has surpassed $1 trillion and continues to grow. He highlighted that the bloc now represents 40% of global GDP and is expanding through partnerships in the Global South. Discussed areas of cooperation include aviation, nuclear power, robotics, AI, IT and advanced materials, with an open-membership policy for countries aligned on shared goals. On Russia’s domestic front, Putin noted a shift away from oil and gas exports toward deeper economic ties with China and India, aiming for “higher quality, more complex” growth. He warned against recession risks and emphasized technological sovereignty and civilian-defense industry integration. The forum underscored Russia’s pivot toward Asia and Africa amid Western disengagement.