Putin Pushes BRICS-Led Order, Urges Growth Revival as Russia’s 2026 GDP Forecast Falls to 0.4%
Updated
Updated · The Moscow Times · Jun 5
Putin Pushes BRICS-Led Order, Urges Growth Revival as Russia’s 2026 GDP Forecast Falls to 0.4%
3 articles · Updated · The Moscow Times · Jun 5
Summary
At the St. Petersburg forum, Vladimir Putin cast BRICS as the main driver of a new multipolar order while largely sidestepping the war in Ukraine and offering few concrete steps to fix Russia’s slowdown.
Russia’s economy shrank 0.2% annualized in January-March, and officials now see 2026 GDP growth at 0.4%, down from 1.3%, forcing Putin to acknowledge weaker momentum.
Putin told the government to restore sustainable domestic growth as early as next year, saying a new investment cycle, stronger capital spending and lower inflation should be the main benchmarks.
He also promoted artificial intelligence, autonomous systems and domestic digital platforms as productivity engines, warning countries without their own tech stacks risk becoming Western-controlled “digital peripheries.”
The speech underscored how SPIEF has changed since 2022: once a venue for major Western-backed deals, it now showcases Moscow’s turn toward partners in Asia and Africa amid sanctions and isolation.
While Putin courts global partners, are Ukraine's deep strikes exposing the limits of Russia's power on the world stage?
With AI drones devastating its forces, can Russia's promised air defense upgrade actually turn the tide of the war?
As Putin signals a deal based on a US proposal, will Ukraine be pressured to trade its territory for peace?
St. Petersburg Under Siege: Ukraine’s Record Drone Strike and the Escalation of the Russia-Ukraine War
Overview
On June 3, 2026, Ukraine launched a major drone attack on St. Petersburg, marking a new phase in the conflict by targeting the city during the opening of the St. Petersburg International Economic Forum. This large-scale strike carried a strong symbolic message for President Putin and caused significant disruption, including temporary flight restrictions and delays at Pulkovo airport. The attack highlighted Ukraine’s evolving long-range drone strategy and demonstrated its ability to create widespread disruption deep inside Russia, signaling that no part of the country is fully secure and challenging the Kremlin’s narrative of control.