Riyadh and Moscow, pillars of the OPEC+ alliance of oil-exporting countries, announced on Sunday the extension of their voluntary production cuts until mid-2024.
Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023, Reuters
Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS bloc after being invited last year, South Africa's Foreign Minister Naledi Pandor said on Wednesday.
The five countries were extended invitations along with Argentina at a summit in August in Johannesburg to join the bloc comprising Brazil, Russia, China, India and South Africa. Members say the move would help reshuffle a world order they view as outdated.
Argentina has since declined the invitation to join.
"With respect to the BRICS confirmations, five out of the six have confirmed. That is Saudi Arabia, UAE, Ethiopia, Iran ... and Egypt," Pandor told a news conference on Wednesday.
"Argentina has written to indicate that they will not act on this successful application by the previous administration to become full members of BRICS, and we accept their decision."
Reporting by Anait Miridzhanian
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