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Saudi Arabia has formally entered the BRICS group, as announced by the kingdom's state television.
In August 2023, Saudi Arabia's Foreign Minister mentioned the kingdom's intention to review the specifics before the scheduled January 1 accession and make a suitable decision. Emphasizing the importance of the BRICS group, Prince Faisal bin Farhan described it as a valuable avenue to enhance economic cooperation.
Originally consisting of Brazil, Russia, India, China, and South Africa, the BRICS is anticipated to double in size with Saudi Arabia's inclusion, along with the United Arab Emirates, Egypt, Iran, and Ethiopia as new members.
This addition of Saudi Arabia comes amid geopolitical tensions between the US and China, and China's increasing influence in Saudi Arabia. Despite maintaining a strong relationship with the US, Saudi Arabia is steering toward its own path, concerned about perceived shifts in Washington's commitment to Gulf security.
China, a significant oil buyer from Saudi Arabia, has advocated for BRICS expansion, envisioning it as a counterbalance to Western dominance. This expansion aligns with the group's objective to represent the interests of the Global South. However, Argentina signaled its reluctance in November to accept an invitation to join.
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