Riyadh is increasingly looking towards the West, while the BRICS are still waiting for an answer.
Multilateralism remains the cornerstone of Saudi Arabia, which is quick to reach agreements with the newly elected president Donald Trump.
Despite the tempting proposal to join the BRICS, the Crown Prince of Saudi Arabia plans to invest $600 billion in the United States.
A strengthening of relations between the US and Saudi Arabia
According to the official Saudi agency Spa, Riyadh intends to increase its economic partnership with the US over the next four years, investing “an amount of $600 billion, or even more”, without specifying the sector in which it will invest.
The historic relationship between the United States and Saudi Arabia could see the beginning of a new phase, which goes beyond the energy sector, further strengthening the relationship.
Joining the BRICS: dream or reality?
A decision not well received by the BRICS, a transnational political bloc that challenges the West composed of Brazil, Russia, India, China and South Africa.
This union seeks to establish a financial and economic system that alternates with the International Monetary Fund, in contrast to the Western predominance in global transactions.
Following the entry of new members in 2023, such as Argentina, Egypt, Iran, United Arab Emirates, the bloc would bring together 45% of the world’s population, constituting 28% of global GDP.
More than a year after the alliance’s invitation, the Arab kingdom is still in the evaluation phase, unsure whether to remain in the Western orbit or join the axis of resistance.
The possible adhesion of Saudi Arabia within the BRICS would strengthen its economic and strategic weight, given the constant increase in the country’s trade volume and the huge oil exports.
Saudi Arabia is in fact one of the five founding countries of OPEC (along with Iraq, Kuwait, Venezuela and Iran) and as such has a direct influence on the global market.
The motivations behind the BRICS’ desire to annex Saudi Arabia would be purely economic, but the diverging interests with the blockade puts the Arab Kingdom in a position of uncertainty, if not exclusion from joining the BRICS.
The current global geopolitical climate has a strong impact on Riyadh, which is instead seeking to pursue a diversified network of economic partnerships, without guarantees of confirmation for the eastern side.
With the US being its main defense partner and arms supplier, the close proximity of the Arab country to the United States has economic as well as military reasons, which reflect a greater preference for the American ally rather than China.
The planned investments could represent a great opportunity for economic prosperity for Saudi Arabia, which currently sees the possibility of accepting the invitation from the BRICS increasingly distant.
Original article published on Money.it Italy 2025-02-11 17:11:49. Original title: Ma quali BRICS, l’Arabia Saudita investe $600 miliardi negli Stati Uniti
