Saudi Arabia Steps into Crypto World, Joins BRICS Alliance

• Saudi Arabia's Official Inclusion in the BRICS Alliance
• BRICS' Expansion and the Entry of Saudi Arabia
• Invitations and Responses
• The Role of Saudi Arabia

Saudi Arabia's Official Inclusion in the BRICS Alliance

The BRICS alliance has officially welcomed Saudi Arabia into its ranks, as confirmed by South Africa's Foreign Minister Naledi Pandor. Saudi Arabia and four other nations have successfully gained acceptance. Despite initial concerns in early 2024 over Saudi Arabia's uncertain stance on joining, it emerged in a recent news briefing that the country has accepted the invitation.

BRICS' Expansion and the Entry of Saudi Arabia

In 2023, one of the significant geopolitical developments was the expansion of the BRICS alliance. Announced during its annual summit that same year, this was the group's first expansion initiative since the admission of South Africa in 2001. The alliance invited six countries from various parts of the world.

Invitations and Responses

While Argentina declined due to a regime change, uncertainty began to grow around Saudi Arabia's intentions. The nation, while still considering joining in 2024, raised concerns about a potential rejection. This, however, has not materialized, as Saudi Arabia has now officially become a part of the BRICS alliance.

South Africa's Foreign Minister Naledi Pandor confirmed the acceptance of the other five invited countries. As a result, Saudi Arabia will be part of the alliance along with the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran.

The Role of Saudi Arabia

Saudi Arabia has always been seen as a critical element of the alliance's plans. However, its close relationship with the United States posed a challenge to the invitation outcome. Now, having confirmed their participation, it is likely Saudi Arabia will support the de-dollarization plans central to the alliance's agenda.

Edited by Jonathan Stoker