Saudi Arabia Remains Uninvolved in BRICS, Official Confirms
- Saudi Arabia Still Contemplating BRICS Membership
- Saudi Arabia Denies Joining BRICS
- Membership Still Under Consideration
- BRICS Membership Invitations and Responses
- BRICS and its Impact on the Global Economy
- Future Prospects of Saudi Arabia's BRICS Membership
Saudi Arabia Still Contemplating BRICS Membership
Saudi Arabia, despite earlier reports of acceptance, has not officially become a member of BRICS. The Middle-Eastern country was among several nations extended an invitation to join the bloc back in August 2023. However, recent statements from an official in Saudi Arabia indicate that the country is still considering the invitation.
Saudi Arabia Denies Joining BRICS
Contrary to a declaration by South Africa's Foreign Minister, Naledi Pandor, which claimed that Saudi Arabia had officially joined the group, a reliable source within the country informed Reuters that Saudi Arabia has not yet responded to the BRICS invitation.
Membership Still Under Consideration
Although there has been no acceptance yet, the Saudi source confirmed that the invitation is still being deliberated. The inclusion of Saudi Arabia into the bloc could potentially strengthen BRICS' stance in the global economy, particularly within the Global South.
BRICS Membership Invitations and Responses
Since the BRICS invitations were issued, Argentina has declined, citing a regime change as the reason. Furthermore, doubts regarding Saudi Arabia's intent to join have started to arise. The nation's ongoing deliberation into 2024 has raised concerns about a possible rejection. At present, Saudi Arabia could potentially become the second country to decline BRICS membership.
BRICS and its Impact on the Global Economy
Related Read: BRICS: No Demand For US Dollar Bonds, Sales Begin Worst Start Since 2016.
Future Prospects of Saudi Arabia's BRICS Membership
Faisal Alibrahim, Saudi Arabia's economy minister, stated in January that the kingdom is still considering BRICS membership. The decision is being weighed against the backdrop of escalating geopolitical tensions among the United States, China, and Russia.
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