The U.S. slapped heavy sanctions on Russia after its Feb. 2022 invasion of Ukraine, including major blocks on the transactions of Russian financial institutions, banning U.S. imports of Russian energy products, and personal sanctions on Russian oligarchs in Putin's inner circle.

Representing 41.1% of the world’s population and 37.3% of its GDP, the bloc aims to counterbalance United States-led Western alliances.

Vladimir Putin sees the meeting with world leaders as a powerful way to demonstrate the failure of US-led efforts to isolate Russia over its invasion of Ukraine.