Saudi Arabia expresses its desire to join BRICS

The Kingdom of Saudi Arabia has indicated a willingness to join the BRICS (Brazil, Russia, India, China, and South Africa) family, according to South African President Cyril Ramaphosa. The president left the Kingdom having strengthened their strategic connection and continuing their bilateral cooperation. The BRICs held their first summit in 2009, and SA joined the group the following year. In general, the bloc has been viewed as a challenge to the supremacy of the western economies.

“We did state that the issue would be taken into account at the Brics summit that will be held in South Africa the following year. Ramaphosa added: “And already a number of countries or nations have been making approaches to the other member countries, and we’ve given them the same answer to say it’ll be discussed by the BRICS partners themselves, five of them, and after that a decision will be made.” In contrast, US government representatives have not been invited to a Saudi investment conference scheduled for later this month, its organiser told AFP Monday, saying he did not want the gathering “to become a political platform”

The BRICS partners, five of them, will consider the matter and then decide, Ramaphosa said. “And already a number of countries or governments have been making approaches to the other member countries,” he added. The FII Institute, led by Attias, is not formally affiliated with the Saudi government, but the annual conference in Riyadh is closely associated with Saudi Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler. On the other hand, US government officials have not been invited to a Saudi investment conference scheduled for later this month, according to its organiser, who said Monday he did not want the gathering “to become a political platform.”

As tensions between longstanding allies Washington and Riyadh increase over the Saudi-led OPEC+ cartel’s recent decision to restrict oil production by up to two million barrels per day starting in November, the decision to not invite American officials marks a change from prior years. In a speech aired on Sunday night, Saudi King Salman insisted his country was “working hard, within its energy strategy, to support the stability and balance of global oil markets.” Saudi Arabia has recently denied US accusations that it has sided with Russia amid the Ukraine war by reducing oil production to raise crude prices.