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Saudi Arabia ‘Going Through Its Process’ To Join BRICS


Saudi Arabia ‘Going Through Its Process’ To Join BRICS
Mar, 11, 2024
2 min read
by Watcher.Guru
Saudi Arabia ‘Going Through Its Process’ To Join BRICS

BRICS invited six new countries to join the alliance during last year’s summit in Johannesburg. The 15th summit in August saw BRICS inviting Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia. Argentina was the first country to outright reject membership as the newly-elected President Javier Milei is skeptical about the bloc. While all four other countries joined the alliance, Saudi Arabia is yet to say ‘yes’ to BRICS.

Also Read: Will BRICS Change Its Name After Expansion?

Saudi Arabia has not accepted the BRICS invitation yet and has kept the decision to join the bloc pending. The 9-member alliance is still waiting for Saudi Arabia’s decision as the Kingdom is yet to provide an answer.

BRICS Confirms Saudi Arabia Is ‘Still Going Through Its Own Process’ To Join The Bloc

saudi arabia kingdom flag country brics
Source: Twitter

South Africa’s Ambassador to Russia, Mzuvukile Geoff Maqetuka confirmed that Saudi Arabia is “still going through its own processes” about joining BRICS. He explained that the Kingdom is yet to provide an answer and the alliance will wait for its decision.

Also Read: BRICS Welcomes Argentina To Join the Alliance Again

“Saudi Arabia is still going through its own processes. One, as a nation-state. Two, together with the BRICS shepherds. Saudi Arabia is not yet, has not yet endorsed. We will see it as we move towards (the summit in) Kazan. As South Africa, we are ready,” the ambassador said.

The alliance needs Saudi Arabia as they could dominate the global oil and gas sector. In addition, Saudi Arabia can also fund the bloc with fresh funds making the alliance financially stronger. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

Also Read: Mexico Among the 25 Countries That Want To Join BRICS

On the other hand, Saudi Arabia is looking to balance the world as it needs BRICS and the West to sustain its economy. Leaving one off the table could dampen its economy as the Kingdom might play it safe and neutral.

Read the article at Watcher.Guru

Read More

BRICS: Saudi Arabia To Sell Oil in Multiple Currencies

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MainNewsSaudi Arabia...

Saudi Arabia ‘Going Through Its Process’ To Join BRICS


Saudi Arabia ‘Going Through Its Process’ To Join BRICS
Mar, 11, 2024
2 min read
by Watcher.Guru
Saudi Arabia ‘Going Through Its Process’ To Join BRICS

BRICS invited six new countries to join the alliance during last year’s summit in Johannesburg. The 15th summit in August saw BRICS inviting Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia. Argentina was the first country to outright reject membership as the newly-elected President Javier Milei is skeptical about the bloc. While all four other countries joined the alliance, Saudi Arabia is yet to say ‘yes’ to BRICS.

Also Read: Will BRICS Change Its Name After Expansion?

Saudi Arabia has not accepted the BRICS invitation yet and has kept the decision to join the bloc pending. The 9-member alliance is still waiting for Saudi Arabia’s decision as the Kingdom is yet to provide an answer.

BRICS Confirms Saudi Arabia Is ‘Still Going Through Its Own Process’ To Join The Bloc

saudi arabia kingdom flag country brics
Source: Twitter

South Africa’s Ambassador to Russia, Mzuvukile Geoff Maqetuka confirmed that Saudi Arabia is “still going through its own processes” about joining BRICS. He explained that the Kingdom is yet to provide an answer and the alliance will wait for its decision.

Also Read: BRICS Welcomes Argentina To Join the Alliance Again

“Saudi Arabia is still going through its own processes. One, as a nation-state. Two, together with the BRICS shepherds. Saudi Arabia is not yet, has not yet endorsed. We will see it as we move towards (the summit in) Kazan. As South Africa, we are ready,” the ambassador said.

The alliance needs Saudi Arabia as they could dominate the global oil and gas sector. In addition, Saudi Arabia can also fund the bloc with fresh funds making the alliance financially stronger. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

Also Read: Mexico Among the 25 Countries That Want To Join BRICS

On the other hand, Saudi Arabia is looking to balance the world as it needs BRICS and the West to sustain its economy. Leaving one off the table could dampen its economy as the Kingdom might play it safe and neutral.

Read the article at Watcher.Guru

Read More

BRICS: Saudi Arabia To Sell Oil in Multiple Currencies

BRICS: Saudi Arabia To Sell Oil in Multiple Currencies

The Kingdom of Saudi Arabia’s 50-year-old agreement with the U.S. to sell oil in the ...
Jun, 14, 2024
2 min read
by Watcher.Guru
BRICS Is Not Seeking Global Dominance, Says Diplomat

BRICS Is Not Seeking Global Dominance, Says Diplomat

BRICS kick-started the de-dollarization process in 2022 to bring the U.S. dollar down...
Jun, 16, 2024
2 min read
by Watcher.Guru