Saudi Arabia’s accession into the BRICS group has reportedly been frozen, according to a report by Russian news agency Interfax. Yuri Ushakov, a foreign policy advisor to the Kremlin, confirmed that Russia has put the accession process on hold.
BRICS was originally formed of Brazil, Russia, India, China, and South Africa, but at this moment, it is under the presidency of Russia. And for many years, the membership has enlarged to include Egypt, Iran, the UAE, and Ethiopia.
The news comes after US President-elect Donald Trump said that he would slap 100 percent tariffs on BRICS members if the bloc continues to advance its own currency to counter the US dollar. While the Minister of External Affairs S. Jaishankar has confirmed that there are intentions for a possible currency transition, the camp of Trump has continuously shown its disapproval to the alliance.
Though invited to join BRICS in 2023, and engaging with the group, Saudi Arabia has denied it has actually joined. In October, Russia rescinded a statement that prematurely pegged Saudi Arabia as a member of BRICS.
With the BRICS Summit close to taking place in Kazan, Russia, the Kremlin has made it crystal clear that more details about Saudi Arabia’s participation in the summit would be given. The Spokesperson of the Kremlin, Dmitry Peskov told that more clarification on this matter was required and stated that decisions would be based on the latest development.
