Putin Says World Undergoes Historic Structural Transformation, Largest in Decades

Russian President Vladimir Putin said the world is experiencing the most significant structural transformation in decades, arguing that the global economic and political system is moving toward a fundamentally new model of development. Speaking during the plenary session of the St. Petersburg International Economic Forum (SPIEF) 2026, Putin outlined his vision of an emerging multipolar world and criticized what he described as the declining effectiveness of traditional Western-centered economic institutions. Putin Sees Shift in the Global Development Paradigm According to the Russian president, the changes currently taking place go far beyond a normal economic cycle. Instead, he said, the world is witnessing a deeper transformation that is reshaping the foundations of global development.