After Pausing BRICS, Saudi Arabia Invests $600 Billion in the US

Saudi Arabia was invited to articulation BRICS successful 2023 but the Kingdom is yet to supply a determination connected accepting the invitation. It has kept the determination to articulation the confederation connected clasp arsenic it’s conducting concern deals with the US. The Kingdom of Saudi Arabia is reluctant to articulation BRICS arsenic it needs the enactment of the US and different Western countries to fulfill its Vision 2030 mission. Ending reliance connected the US volition lone hamper its fiscal prospects and pb to economical stagnation.

Also Read: BRICS: Iran Calls For a ‘Unified Currency’ To Challenge the US Dollar

Therefore, aft pausing BRICS, Saudi Arabia plans to put $600 cardinal successful the US implicit the adjacent 4 years. Crown Prince Mohammed bin Salman told US President Donald Trump that the Kingdom wants to put the magnitude and grow trade. MBS said that the investments would make “unprecedented economical prosperity” for Saudi Arabia and the US.

However, the Kingdom did not item successful which assemblage the $600 cardinal volition beryllium invested. They did not marque it wide if it would beryllium invested successful the backstage oregon nationalist assemblage and provided small to nary accusation connected however the wealth would beryllium deployed. The US investments are intimately watched by BRICS arsenic the confederation wants Saudi Arabia to articulation the grouping.

Also Read: India Officially Rejects BRICS Currency, Calls It ‘Impossible’

BRICS: Saudi Arabia To Invest $600 Billion successful the US

Source: Bandar Algaloud / Courtesy of Saudi Royal Court / Handout via Reuters / File Photo

The Crown Prince of Saudi Arabia revealed that the concern could emergence if much opportunities arise. This shows that the Kingdom is unfastened to much investments and aims to diversify the wealth crossed galore sectors. The concern “could summation further if further opportunities arise,” said MBS. More than extending adjacent ties with BRICS, Saudi Arabia is extending its arms to the US instead.

Also Read: BRICS: Trump Spares India After They Officially Embrace the US Dollar

Trump seems blessed with the woody considering it a commercialized and commerce triumph for the US. “I did it with Saudi Arabia past clip due to the fact that they agreed to bargain $450 cardinal worthy of our product. I said I’ll bash it but you person to bargain American product, and they agreed to bash that,” he said, referring to his 2017 sojourn to the Gulf kingdom. Considering each these factors, Saudi Arabia mightiness not judge the BRICS invitation arsenic it’s gathering adjacent relations with the US.