XM does not provide services to residents of the United States of America.

Russia's Putin seeks greater role for BRICS in global energy dialogue



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>CORRECTED-Russia's Putin seeks greater role for BRICS in global energy dialogue</title></head><body>

Corrects to read Monday (not Wednesday) in paragraph 1

MOSCOW, Sept 23 (Reuters) -President Vladimir Putin called on Monday for a bigger role for the BRICS bloc on world's energy markets as Russia seeks ways to counter Western influence.

Russia, which is the world's second largest oil exporter and has the biggest reserves of natural gas, hosts annual Energy Week International Forum later this week and it is expected to hold a meeting of BRICS' energy ministers.

"It is obvious that in the new geopolitical realities, cooperation in the energy sector should serve to strengthen national economies, help solve priority social problems, and improve people's quality of life," Putin said in a letter to the forum's participants and guests.

"It is crucial to agree on common principles for our countries in the just energy transition, and outline ways to strengthen the role of BRICS in the global energy dialogue," he said about the forthcoming meeting of BRICS energy ministers.

In the past, the forum was also attended by delegates from Saudi Arabia, the world's largest oil exporter. The Saudi energy ministry did not immediately reply to a question about whether or not Energy Minister Prince Abdulaziz bin Salman would attend the event.

Putin's spokesman Dmitry Peskov said last week that the Kremlin would update on the forum's participants "in due course".

The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies.

BRICS has been expanded as countries, including Egypt, Iran, United Arab Emirates joined.

After the BRICS expansion, the alliance accounts for 42% of the global oil and gas reserves.

Saudi Arabia has not yet officially joined the BRICS, however, Russian Foreign Minister Sergei Lavrov has said that Russia had invited Saudi Crown Prince, Mohammed Bin Salman, to attend a BRICS summit in the city of Kazan next month.



Reporting by Vladimir Soldatkin; editing by Guy Faulconbridge

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.