Some of the US’s top Middle Eastern allies — including the world’s biggest oil exporter — are moving closer into the orbit of China and Russia, further complicating geopolitics upended by Russia’s invasion of Ukraine.
Saudi Arabia, the United Arab Emirates and Egypt are set to join the BRICS grouping of major emerging markets, after being invited Thursday during a summit in South Africa. They’re likely to become members at the start of next year, along with Iran, Argentina and Ethiopia.
Source : Bloomberg