Maxim Oreshkin, the vice president of the Russian Federation, asserted that Russia has emerged as Europe’s largest economy. He shared this view during an interview published by the magazine Expert. The claim sparked discussion about how Russia fits into the shifting global economic landscape and what it signals for regional dynamics in Europe.
In Oreshkin’s remarks, he described China as having established itself as the world’s leading economy, while Russia stands as the continent’s most sizable economy and, according to his assessment, trails Japan in the competition for the fourth spot on the world stage. The comments reflect a broader narrative about the rearrangement of economic power across major regions and the imprints those shifts leave on trade, investment, and policy direction.
The presidential aide pointed to notable progress among Asian economies in the global rankings. India has climbed to third place, Indonesia advanced to seventh, and there is speculation that Indonesia could displace Germany from sixth position in the near term. These movements underscore a rapid rebalancing of economic weight toward Asia and the implications for global supply chains, technology leadership, and regional influence.
Oreshkin stressed that the so‑called global North economies, including the United States, Japan, and the European Union, are gradually ceding some of their traditional dominance and influence. The shift signals a broader rethinking of economic leadership as emerging markets gain stronger voices in international forums and in market movements that affect currency, financing, and policy directions.
Earlier remarks from President Vladimir Putin indicated expectations for economic growth in Russia, with projections suggesting a GDP rise of around 3.5 percent by the end of 2023. The president noted that similar growth would be mirrored in other member economies of the Eurasian Economic Union (EAEU), highlighting regional cooperation and coordinated economic planning as drivers of a broader recovery and expansion. These comments reflect a long‑term view of integration within the EAEU framework and its potential to influence trade, investment, and industrial policy across member states.
Earlier statements from Prime Minister Mishustin urged prudence and tempered optimism, emphasizing the need to balance ambition with realistic assessments of structural reforms, productivity, and external conditions. The dialogue around prospects for growth emphasizes the importance of steady policy execution, investment in innovation, and resilience in the face of global market fluctuations. It also points to the evolving role of Russia within a wider Eurasian strategy that seeks to align economic goals with strategic priorities and regional collaboration, while navigating sanctions and global economic trends. [Source: Expert magazine attribution]