President Vladimir Putin has called for an expanded role for the BRICS bloc in the global energy market, as Russia seeks to counter Western influence.
In a letter addressed to participants and guests of the upcoming Energy Week International Forum, Putin highlighted the need for BRICS countries to collaborate on energy strategies that bolster national economies, address social challenges, and improve quality of life.
Russia, the world’s second-largest oil exporter and holder of the largest natural gas reserves, will host the forum and a meeting of BRICS energy ministers later this week. Putin emphasized the importance of establishing shared principles for a “just energy transition” and enhancing BRICS’ involvement in global energy discussions.
This year’s forum, traditionally attended by global energy leaders, including delegates from Saudi Arabia, may see significant developments. While Saudi Arabia, the world’s largest oil exporter, has not yet officially joined BRICS, its participation has been noted in past events, and Russia has extended an invitation to Saudi Crown Prince Mohammed bin Salman to attend a BRICS summit in Kazan next month.
The BRICS bloc, originally founded in 2009 to challenge a Western-dominated global order, has expanded to include countries like Egypt, Iran, and the United Arab Emirates. With these additions, BRICS now controls 42% of the world’s oil and gas reserves, giving the bloc significant influence in global energy markets.
As the geopolitical landscape shifts, Russia is actively working to deepen cooperation within BRICS, positioning the alliance as a key player in shaping global energy policies and reducing reliance on Western-dominated institutions.
