Russian President Vladimir Putin said on Tuesday that inflation in Russia has dropped below 7% year-on-year, marking what he called a “significant achievement” for the country’s economy.
Speaking at the annual VTB Investment Forum in Moscow, Putin said inflation was once estimated at double-digit levels in March but is now expected to fall to around 6% by the end of December, below both government and Central Bank forecasts.
“The reduction in inflation has been a significant achievement this year,” he told delegates, adding that Russia’s gross domestic product is projected to grow between 0.5% and 1% in 2025.
Addressing Russian and international participants at the forum, Putin said Moscow aimed to elevate cooperation with China and India “to a qualitatively new level” by strengthening the technological component of their partnerships. He said numerous joint projects were already underway in areas such as energy, industry, space, and agriculture.
“We have established a substantive dialogue on economic issues with President Xi Jinping,” Putin said. “We will also discuss these topics in detail during the upcoming visit to India with Prime Minister Narendra Modi, including increasing imports of Indian goods to our market.”
Putin begins a two-day visit to India on Thursday, his first in four years, where he is expected to pitch new deals in energy and defence, including sales of Russian oil, missile systems, and fighter jets. The visit comes as Moscow seeks to restore trade flows disrupted by Western sanctions and as New Delhi diversifies its energy sources.
Russia has long been a key arms supplier to India and, in recent years, one of its top oil exporters. However, India’s crude imports from Russia are set to hit a three-year low this month due to tighter sanctions, coinciding with a rise in its purchases of U.S. oil and gas.
Putin will be accompanied by Defence Minister Andrei Belousov and a large business delegation, underscoring Moscow’s intent to strengthen strategic and economic cooperation with its long-standing Asian partners.
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December 2025 promises a month full of transformative moments, from significant legal releases and international meetings to cultural milestones and controversial elections. Here’s a look at the key stories set to unfold.
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi began summit talks in New Delhi on Friday, as New Delhi rolled out the red carpet for the Russian leader and Modi told him India supported peace efforts in Ukraine.
German Chancellor Friedrich Merz on Thursday (4 December) firmly rejected U.S. proposals to use Russian assets frozen in the European Union for the benefit of the United States, emphasising that these funds should be directed to support Ukraine.
The United Kingdom and Norway have unveiled a new joint naval initiative designed to protect undersea infrastructure and counter increased Russian submarine activity in the North Atlantic.
For nearly three decades following the dissolution of the Soviet Union, the international system was defined by a singular, overwhelming reality: American unipolarity.
Faced with mounting public outrage following one of the deadliest environmental disasters in the nation’s recent history, the Indonesian government has pledged to investigate and potentially shut down mining operations found to have contributed to the catastrophic flooding on Sumatra.
Israel was cleared on Thursday to participate in the 2026 Eurovision Song Contest, a decision made by the organisers, the European Broadcasting Union (EBU), which sparked a major controversy.
Britain’s King Charles III welcomed German President Frank-Walter Steinmeier on Wednesday, marking the beginning of his three-day state visit to the United Kingdom. The visit, the first by a German President to the UK in 27 years, comes as the two countries continue to strengthen ties post-Brexit.
Ukraine has rejected Russian claims that its forces have captured the city of Pokrovsk in eastern Donetsk, stating that Ukrainian troops continue to hold the northern districts along a railway line.
Moscow has expressed cautious optimism regarding diplomatic efforts to end the war in Ukraine, following a marathon meeting between President Vladimir Putin and high-level representatives of the Trump administration.
Norway plans to buy two additional submarines from Germany and a separate procurement of long-range artillery, the defence ministry said on Friday, at a much higher cost than before partly due to high demand for military equipment.
Top diplomats from Armenia and Azerbaijan will convene in Qatar this Saturday for a high-profile panel discussion aimed at cementing the peace process between the historic South Caucasus rivals.
Today, at the UN Security Council Media Stakeout in New York, Uzbekistan's Permanent Representative, Ulugbek Lapasov, briefed on the outcomes of the Central Asian Heads of State meeting in Tashkent on 16 November 2025.
Unity between Europe and the United States is key to supporting Ukraine, French President Emmanuel Macron said on Friday, adding that there is "no mistrust."
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