Putin and Saudi Crown Prince Discuss Potential BRICS-Saudi Arabia Collaboration – According to a statement released by the Kremlin press service after a phone call on Friday, Russian President Vladimir Putin and Crown Prince and Prime Minister Mohammed bin Salman Al Saud of Saudi Arabia discussed various significant issues affecting both countries. The phone call was reported by the Russian news outlet Tass.
The conversation between Putin and bin Salman Al Saud likely covered a range of topics that are important to the bilateral relationship between Russia and Saudi Arabia. The statement details that Russia and Saudi Arabia are satisfied with the level of coordination in the OPEC+ framework, stating: “The parties expressed satisfaction with the level of coordination at OPEC Plus aimed at ensuring the global oil market stability.”
The OPEC+ alliance, consisting of 23 countries that export crude oil, including Saudi Arabia and Russia, have recently reached an agreement to reduce their crude oil production. These countries meet frequently to discuss and determine the volume of crude oil they intend to sell on the global market. As per the Kremlin press service, the conversation between the Russian president and the Saudi Crown Prince encompassed various significant topics on their bilateral agenda.
With a specific focus on reinforcing their mutually beneficial ties in domains such as trade, economic cooperation, investment, and energy. The statement adds: “Prospects for cooperation between Saudi Arabia and BRICS were also considered.” It has been reported that Saudi Arabia has shown interest in becoming a member of the BRICS alliance, which includes Brazil, Russia, India, China, and South Africa. The BRICS nations have been increasing their efforts to reduce their reliance on the U.S. dollar and are reportedly working towards establishing a new form of currency.
According to a recent statement made by a Russian official, the BRICS nations are aiming to extend their global reach as a countermeasure to the “damaging actions” of Western countries. Former Treasury Secretary, Lawrence Summers, has voiced apprehension that an increasing number of countries, including Russia, China, and Middle Eastern nations, are collaborating and strengthening their global influence, posing a challenge for the United States. Furthermore, an analyst from Fitch Solutions has stated that the BRICS countries’ shift away from the U.S. dollar, China’s rising power, and the emergence of cryptocurrencies all pose a threat to the dominance of the U.S. dollar.