Russian President Vladimir Putin affirmed that the possibility of holding a meeting with his Ukrainian counterpart, Volodymyr Zelenskyy, is contingent on reaching a prior agreement, noting that he sees no point in such a meeting at present without a common
ground. These remarks came during his speech at the plenary session of the St. Petersburg International Economic Forum, where Putin clarified that the leading position of the "BRICS" group is strengthening significantly. The Russian President cited data from the International Monetary
Fund and the World Bank, indicating that growth rates for G7 countries would at best reach 1.5% annually by the end of the current decade, while this indicator for "BRICS" nations would, on average, exceed 4%. Putin added that this disparity
in economic performance is driving the global business sector towards more dynamic regions, where greater opportunities exist for increasing production and marketing products. He emphasized that the center of gravity in global trade, and consequently the financial system, would gradually
shift towards the "BRICS" group. He stated that "for many years, the main flows of goods, capital, and information passed through a limited number of fundamental Western nodes, which created additional costs and established political dependence." Putin accused some powers of
resorting to "sanctions, threats, and blackmail" in an attempt to slow the pace of development in "global majority" nations, but he stressed that the concept of multipolarity has become an unstoppable reality. He warned that irresponsible economic policies pursued by
Western countries undermine the foundations of the global financial system, calling for comprehensive reform of the structure of international financial institutions, including the IMF and World Bank, to fairly reflect the new economic weights of member states.
