“The Crown Prince Mohammad bin Salman did express Saudi Arabia’s desire to be part of BRICS,” said South African President Cyril Ramaphosa at the conclusion of his two-day state visit to the Kingdom. Mohammad bin Salman (MBS) is the prime minister. This report was carried by the South African state broadcaster, SABC, on Oct.16. President Ramaphosa continued, “The BRICS nations are going to be meeting in a Summit next year under the chairship of South Africa. And the matter is going to be under consideration.”
The 2023 BRICS Summit, and the separate annual meeting of the BRICS foreign ministers, have not yet been scheduled. Formal applications for membership submitted by Iran and Argentina will also be considered.
Saudi membership in the BRICS would have special significance in terms of the BRICS plan to develop a new, global reserve currency, given that the dollar’s strength has in part come from its dominant role in the international oil market.
