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LIVE UPDATES: Putin Gives Comprehensive Pitch for BRICS and Rise of Multipolar World Order

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Russian President Vladimir Putin’s SPIEF 2026 speech declared the start of multipolar world. Here are major points made by the Russian leader: 05.06.2026, Sputnik India

2026-06-05T18:17+0530

2026-06-05T22:21+0530

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LIVE UPDATES: Putin Gives Comprehensive Pitch for BRICS and Rise of Multipolar World Order

18:17 05.06.2026 (Updated: 22:21 05.06.2026)

Russian President Vladimir Putin’s SPIEF 2026 speech declared the start of multipolar world. Here are major points made by the Russian leader:

🔸New global power centers are forging their own paths — the world is undergoing its biggest shift away from Western-centric order.

🔸Rise of BRICS: BRICS now holds 40% of world GDP (G7 under 29%) and its influence will only keep growing.

🔸The West ditched the “rules” the moment it started losing; the world needs a sanctions-proof system that rewards sovereign development.

🔸 Means smarter resource management and bolder technological investment.

🔸Nations must choose now — build their own platforms or become digital colonies. Foreign services look convenient until they create permanent dependence.

Learn more in our updates:

Stay tuned for updates!

Table of contents

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22:52 05.06.2026

Significant Share of Indian Army Equipment Is Russian-Made: Putin

A significant portion of the Indian army is equipped with Russian weapons and equipment, Russian President Vladimir Putin said on Friday.

"We have very good, long-standing relations with India in the area of military-technical cooperation and collaboration. A significant portion of the Indian army is equipped with Russian-made equipment. This has been the tradition since Soviet times," Putin said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

Relations between Russia and India in the military-technical sphere are developing, including in the area of joint developments, Putin added.

22:50 05.06.2026

22:15 05.06.2026

Russia Seeks Lasting Partnership With OPEC+ Members: Putin

Russia is interested in the long-term cooperation with partners within the OPEC+ framework and will move in this direction, Russian President Vladimir Putin said on Friday.

"We are interested in further cooperation with our friends, for example, within the framework of the OPEC+ organization in order to stabilize the market and reduce its volatility. That's our priority. We will move in this direction," Putin said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

Russia and Saudi Arabia are working to balance the interests of energy suppliers and consumers within the OPEC+ framework, Putin said.

22:10 05.06.2026

Russia Values Stability in Global Oil and Gas Markets: Putin

Russia values stability in oil and gas markets, if the global oil prices are too high then this impacts the production sector, Russian President Vladimir Putin said on Friday.

"But that is not what is important, the more important thing is the stability of the markets. Because we do not just live off oil and gas... But also at the expense of the development of the economy as a whole. If global oil prices are too high, this affects the part of the Russian economy that is represented by the real production sector. That is what it is all about," Putin said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

Oil supplies to global markets have fallen by 10% amid the conflict in the Middle East and the shaking of the market, Putin said.

"The dependence of the Russian economy and the Russian budget on oil and gas revenues has been significant in recent years... decreased naturally," Putin said.

If oil prices remain high, this will impact inflation in leading economies, Putin said.

"Now, if the oil price stays high, it will be expensive, and this will affect the entire chain of economic cooperation. Most likely, this will affect the inflation of the leading economies, including inflation in the United States," Putin concluded.

22:08 05.06.2026

22:07 05.06.2026

22:06 05.06.2026

22:05 05.06.2026

22:04 05.06.2026

Rosneft’s Investments in India Reach Nearly $25 Billion: Putin

Russian energy giant Rosneft has invested approximately $25 billion in the Indian economy, Russian President Vladimir Putin said on Friday.

"Rosneft has invested approximately $25 billion in the Indian economy: refineries, a port, a fueling system, and so on," Putin said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

Rosneft is one of the largest investors in the Indian economy, Putin said, adding that Russian-Indian relations are trusting and fraternal.

22:02 05.06.2026

Alaska LNG Production Using Russian Technology Could Cost Less: Putin

Producing liquefied natural gas (LNG) in Alaska using Russian technology could be significantly cheaper for the United States than other options, Russian President Vladimir Putin said on Friday.

"If they use our technologies, then production and liquefaction, and consequently, sales of the product in Alaska, will, I think, be much more efficient than what was originally planned with the pipeline systems," Putin said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

22:01 05.06.2026

Russia Had Grounds to Recognize New Regions: Putin

Russia was in its right to have recognized both Donetsk People's Republic (DPR) and Lugansk (Luhansk) People's Republics (LPR), Russian President Vladimir Putin said on Friday.

"Did we have the right to recognize them? We had and we did. We have not acted in violation of the UN Charter," Putin said during the plenary session of the St. Petersburg International Economic Forum (SPIEF), speaking about the independence and sovereignty of the LPR and DPR.

Russia's goal is to liberate the entire Donbas region, which the two republics are part of, Putin underlined.

He recalled that since April 1, the LPR has been fully controlled by Russia, while less than 15% of the DPR remains under the control of the Kiev military.

"We are moving calmly but confidently toward resolving these tasks [liberating the entirety of Donbas]. And there is no doubt that we will achieve this," Putin said.

21:53 05.06.2026

China-Russia Trade Delivers Mutual Benefits, Grows Steadily: Chinese Vice President

Trade between China and Russia is mutually beneficial and has developed steadily in recent years, Chinese Vice President Han Zheng said on Friday.

"The economic and trade cooperation between the two countries [Russia and China] brings mutual benefits," Han Zheng said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

China-Russia cooperation remains dynamic and the development of these relations improves the well-being of both peoples, the official said.

"As you know, President Putin made a very successful visit to China two weeks ago. Chinese President Xi Jinping and Russian President Vladimir Putin held talks in Beijing on the development of bilateral relations and mutually beneficial cooperation in all areas," Han Zheng said.

The China-Russia partnership is mutually beneficial, and gives stability to the turbulent world, the official said, underscoring that these relations are not influenced from the outside or directed against any third country.

The 2026 SPIEF is taking place from June 3-6. RIA Novosti is the general information partner of the forum.

21:47 05.06.2026

Putin Condemns Starobelsk Strike, Says Site Had No Military Facilities

The attack on Starobelsk (also known as Starobilsk) in the Lugansk (Luhansk) People's Republic is a terrible crime, Russian President Vladimir Putin said on Friday, adding that there was not a single military facility there.

"On May 22, Ukrainian troops carried out a horrific terrorist attack on a college dormitory in the Lugansk People's Republic, killing children and teenagers. This is a terrible crime. There was not a single military facility there, not even a single military vehicle," Putin said at the plenary session of the 2026 St. Petersburg International Economic Forum (SPIEF).

Kiev asks for a meeting, but commits terrible crimes like the attack on Starobelsk, the Russian president added.

"I do not see the point in meeting [with Vladimir Zelensky]. The only point for the Ukrainian side is to stop the advance of our armed forces, that is all. We need agreements not for six months, not for three months, but for the long-term historical perspective. Let the experts work, develop some solutions, and then we can meet," Putin said.

Zelensky's letter contains elements of rudeness, the president said.

"I do not see the point yet," Putin said, when asked whether he would meet with Zelensky.

21:33 05.06.2026

Russia, China Maintain Equal Partnership: Putin

Russian President Vladimir Putin said on Friday that relations between Russia and China are equal.

"We have equal relations with our Chinese partners and friends," Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF) 2026.

Russia is increasing high-tech exports to China, Putin added.

21:12 05.06.2026

Putin Hails Quality of Russian E-Commerce Platforms

"Our country is among the leaders in e-commerce. This, among other things, speaks to the quality of Russian platform solutions, which benefit both domestic producers and foreign suppliers," Putin said during the plenary session of the St. Petersburg International Economic Forum (SPIEF).

The President specifically cited the growth in trade of Uzbek goods via Russia's Wildberries e-commerce service, which he said grew from $418 million in 2023 to almost $1.5 billion in 2025, with the potential to reach over $2 billion this year.

"Today, through this Russian platform, businesses gain access to almost half a billion potential clients worldwide. And their number is growing. Thus, Russian platform solutions are becoming a true driver of development in partner economies," the president emphasised.