Saudi Arabia details 114m-tonne Madinah uranium-bearing resource

Saudi Arabia, represented by Foreign Minister Prince Faisal bin Farhan, attended the 2026 BRICS Summit in New Delhi, where it engaged with world leaders on key international issues and explored ways to strengthen multilateral cooperation. Despite formally being invited to join BRICS back in 2023, Saudi Arabia has not formally accepted the invitation and become a full member.

The reason behind this unusual status is multifaceted. Firstly, BRICS provides Saudi Arabia with an opportunity to deepen economic and diplomatic ties with major emerging markets, such as China and India, which together account for about 40% of global GDP and more than half of the world's population. Moreover, the summit allowed Saudi Arabia to strengthen ties with other key emerging economies while seeking to expand non-oil exports, which have grown significantly in recent years.

Furthermore, participating in BRICS enables Saudi Arabia to explore alternative trade and settlement arrangements, including greater use of local currencies, thereby diversifying its economy and reducing reliance on oil exports. While Saudi Arabia values the opportunity to deepen economic ties with BRICS members, strategic considerations also play a significant role in its decision.

The country's relationship with the United States is a key factor, as Riyadh relies heavily on US weapons and defence systems for its security. Additionally, Saudi Arabia is actively working with Washington on major technology and civil nuclear agreements. Formalising its membership in BRICS could potentially complicate these ties, particularly as important agreements are still under negotiation.

Thus, Saudi Arabia continues to engage closely with BRICS while leaving the question of formal membership unresolved, allowing it to benefit from the grouping's advantages without jeopardising its strategic relationships with other countries.