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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At least 11 people were killed in Israeli strikes on southern Lebanon on Saturday, among the deadliest since a June ceasefire. Meanwhile, Qatar denied holding Iranian pilots. It said it had found the remains of one pilot after an airspace violation and had contacted Iran to coordinate a handover.
Shipping through the Strait of Hormuz slowed to a near standstill over the weekend, with five commodity vessels transiting Saturday and none on Sunday. Iran's Foreign Minister Abbas Araghchi said Washington must meet Tehran's conditions for shipping to resume.
A wildfire in Croatia driven by strong winds descended on the tourist town of Omis overnight, engulfing houses, forcing about 1,000 people to evacuate to safety and injuring dozens, fire brigade and health officials said on Friday.
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Minister, Kazem Gharibabadi, who said the sea passage "cannot be seized by tweet."
Residents of villages in eastern Indonesia hit by a deadly earthquake that killed at least 54 people were awaiting aid on Monday as rescuers prepared to comb through collapsed buildings in search of people trapped beneath the rubble.
Nearly a week after a powerful 7.4-magnitude earthquake struck western Colombia, hopes of finding more survivors are fading as rescue teams search collapsed buildings and communities confront widespread destruction.
Central Asia has become a major focus for Eurasian transport investment, with $71.7 billion committed to 114 projects, according to the Eurasian Development Bank’s 2026 Transport Observatory.
The European Union is preparing what foreign policy chief Kaja Kallas has described as its most far-reaching sanctions package against Russia since the war in Ukraine began.
Weeks after thousands of students protested in New Delhi over alleged failures in India’s examination system, the so-called Cockroach movement is taking its campaign to the grassroots, launching audits of state-run schools.
UNESCO Director-General Khaled El-Enany visited Ukraine for the first time since taking office, meeting Foreign Minister Andrii Sybiha in Kyiv on 15 August to discuss protecting the country’s cultural heritage amid continued Russian attacks.
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