Putin Dismisses Rejoining the G7 Group: A Strategic Geopolitical Decision

Russian President Vladimir Putin said Russia has no interest in rejoining the G7 group of major industrialized nations, claiming the bloc's share of the global economy has been shrinking for years. Putin made these comments during a visit to India on Thursday, in an interview with India Today television.

The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, with the European Union participating in discussions. Russia was expelled from what was then the G8 in 2014 following its annexation of Crimea from Ukraine.

Putin's remarks come as Russia has been increasingly isolated from Western economic institutions since the 2022 invasion of Ukraine. The country has faced extensive sanctions from G7 nations and has been cut off from key parts of the global financial system.

The timing of Putin's comments during his India visit is significant. India has maintained diplomatic ties with Russia despite Western pressure, continuing to buy Russian oil and maintaining trade relationships. This reflects Russia's broader strategy of strengthening ties with non-Western economies as it faces isolation from traditional Western partners.

For global markets, Putin's stance signals Russia's continued pivot toward alternative economic partnerships, particularly with BRICS nations and Asian economies. This shift could reshape global trade patterns and economic alliances, especially in energy markets where Russia remains a major player despite sanctions.