Saudi Crown Prince and Russian President discuss potential BRICS-Saudi Arabia Collaboration

 

Mohammed bin Salman Al Saud, the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Vladimir Putin, President of Russia discussed potential collaboration between Saudi Arabia and the BRICS (Brazil, Russia, India, China, and South Africa) on Friday, according to Saudi Press Agency (SPA).

The two leaders held a telephone conversation on Friday. The Russian President congratulated the Saudi Prime Minister on the occasion of Eid Al-Fitr. They also expressed satisfaction with the level of coordination at OPEC+ (Organization of the Petroleum Exporting Countries Plus) aimed at securing the global oil market stability.

Crown Prince Mohammed bin Salman and Putin also reviewed relations between the Kingdom of Saudi Arabia and Russia. The two sides agreed to cooperate in various fields and discussed various issues of common interest. They also discussed several important bilateral issues during a phone call.

The Kremlin press service said in a statement, “The parties expressed satisfaction with the level of coordination at OPEC Plus aimed at ensuring the global oil market stability.” Saudi Arabia and Russia are members of the Organization of the Petroleum Exporting Countries Plus. OPEC+ is responsible for deciding the sale of crude oil on the world market.

Saudi Arabia expressed an interest to join the BRICS bloc. BRICS countries which comprise Brazil, Russia, India, China, and South Africa want to focus on expanding their international influence on Western countries. These countries also want to create a new type of currency.

According to Bloomberg, BRICS can grow their economies faster than the G7 (Group of Seven) nations. According to the International Monetary Fund (IMF), the economy of the BRICS countries can increase to almost 35% by 2028. Brazil, Russia, India, China, and South Africa have a higher GDP (PPP) than the G7 countries, which comprise the United States, the United Kingdom, France, Canada, Germany, Italy, and Japan.