Russian President Vladimir Putin and Saudi Crown Prince Mohammad bin Salman Al Saud discussed on Friday possible cooperation between Saudi Arabia and BRICS. In addition, Putin and the Saudi Crown Prince “expressed satisfaction with the level of coordination in OPEC Plus, which aims to ensure stability in the global oil market,” the Kremlin press service detailed.
President Putin and Saudi Crown Prince discussed key bilateral issues, including BRICS coordination
Russian President Vladimir Putin and Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud held a telephone conversation on Friday to discuss several important bilateral issues, Russian news media outlet TASS reported, citing a statement released by the Kremlin press service after the meeting. TASS reported, citing a statement released by the Kremlin press service after the meeting.
The statement detailed Russia and Saudi Arabia’s satisfaction with the level of coordination in the framework of OPEC+, saying:
They expressed satisfaction with the level of coordination in OPEC Plus, which aims to ensure stability in the global oil market.
Members of the Organization of Petroleum Exporting Countries Plus (OPEC+), which includes Saudi Arabia and Russia, recently agreed to cut oil production; OPEC+ is a group of 23 oil exporting countries that meets regularly to determine the amount of oil to sell on the world market.
The Kremlin Press Service further explained that the discussions between the Russian President and the Saudi Crown Prince covered a variety of important topics on the bilateral agenda, with particular emphasis on strengthening mutually beneficial ties in areas such as trade, economic cooperation, investment, and energy. The statement adds: {28 The statement added:
The possibility of cooperation between Saudi Arabia and BRICS was also discussed.
Saudi Arabia has expressed interest in joining the BRICS bloc, which consists of Brazil, Russia, India, China, and South Africa; the BRICS countries are increasing their efforts to reduce their dependence on the U.S. dollar. They are also reportedly striving to create a new type of currency.
In addition, the BRICS countries are focusing on expanding their international influence to counter the “destructive actions” of Western countries, a Russian official recently said. Former Treasury Secretary Lawrence Summers has expressed concern that a growing number of countries, including China, Russia, and the Middle East, are aligning themselves and gaining global influence, posing a challenge for the United States. Analysts at Fitch Solutions said that BRICS de-dollarization, China, and cryptocurrencies are threatening the dominance of the US dollar.
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