Putin and Saudi Crown Prince Focus on Potential BRICS-Saudi Arabia Collaboration

Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman Al Saud mentioned potential collaboration between Saudi Arabia and the BRICS on Friday. As well as, Putin and the Saudi Crown Prince “expressed satisfaction with the extent of coordination at OPEC Plus aimed toward making certain the worldwide oil market stability,” the Kremlin press service particulars.

Putin and Saudi Crown Prince Focus on Key Bilateral Points, Together with BRICS Collaboration

Russian President Vladimir Putin and Crown Prince and Prime Minister Mohammed bin Salman Al Saud of Saudi Arabia mentioned a number of vital bilateral points throughout a cellphone name on Friday, Russian information outlet Tass reported, citing a press release launched by the Kremlin press service after the decision.

The assertion particulars that Russia and Saudi Arabia are happy with the extent of coordination within the OPEC+ framework, stating:

The events expressed satisfaction with the extent of coordination at OPEC Plus aimed toward making certain the worldwide oil market stability.

The Group of the Petroleum Exporting Nations Plus (OPEC+) members, which embody Saudi Arabia and Russia, not too long ago agreed to chop crude oil output. OPEC+ is a gaggle of 23 oil-exporting nations that meet often to resolve how a lot crude oil to promote on the world market.

The Kremlin press service additional explains that the dialogue between the Russian president and the Saudi Crown Prince included a spread of key subjects on their bilateral agenda, with a specific emphasis on strengthening their mutually advantageous connections in areas akin to commerce, financial cooperation, funding, and power. The assertion provides:

Prospects for cooperation between Saudi Arabia and BRICS have been additionally thought-about.

Saudi Arabia has expressed curiosity to affix the BRICS bloc which contains Brazil, Russia, India, China, and South Africa. The BRICS nations have been ramping up efforts to cut back their dependence on the U.S. greenback. They’re additionally reportedly working to create a brand new sort of currency.

Furthermore, the BRICS nations are specializing in increasing their worldwide affect to counter Western nations’ “destructive actions,” a Russian official not too long ago stated. Former Treasury Secretary Lawrence Summers has expressed issues {that a} rising variety of nations, together with China, Russia, and the Center East, are aligning themselves and gaining international affect, which is a challenge for the U.S. Fitch Options’ analyst stated BRICS’ de-dollarization, China, and cryptocurrency threaten the U.S. greenback’s dominance.

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