In an effort to combat Western influence, Russia’s President Vladimir Putin called on the Brics bloc to play a larger role on the world’s energy markets on Monday.
This week, Russia, the world’s largest natural gas reserve and second-largest oil exporter, will host the annual Energy Week International Forum, where Brics energy ministers are expected to meet.
In a letter to the forum’s attendees and guests, Putin stated, “It is obvious that in the new geopolitical realities, cooperation in the energy sector should serve to strengthen national economies, help solve priority social problems, and improve people’s quality of life.”
Regarding the upcoming meeting of Brics energy ministers, he stated, “It is crucial to agree on common principles for our countries in the just energy transition and outline ways to strengthen the role of Brics in the global energy dialogue.”
Delegates from Saudi Arabia, the world’s largest oil exporter, previously attended the forum. When asked if Energy Minister Prince Abdulaziz bin Salman would attend the event, the Saudi energy ministry did not immediately respond.
Dmitry Peskov, the spokesperson for Putin, stated last week that the Kremlin would provide an update regarding the forum participants “in due course.”
In 2009, the bloc was established as an informal club in order to provide its members with a platform on which to challenge a global order dominated by the United States and its Western allies.
As countries like Egypt, Iran, and the United Arab Emirates joined, Brics grew.
The alliance now controls 42% of the world’s oil and gas reserves following the Brics expansion.
Although Saudi Arabia has not yet joined the Brics in a formal capacity, Russian Foreign Minister Sergei Lavrov has stated that Russia has extended an invitation to Saudi Crown Prince Mohammed Bin Salman to attend a Brics summit in Kazan next month.
