Venezuela’s Deputy UN Envoy recently stated that the country plans to leverage its vast oil reserves to contribute significantly to the BRICS group, Sputnik Globe reports. With the largest proven oil reserves in the world, estimated at over 300 billion barrels, Venezuela’s inclusion in the BRICS group could reshape global energy dynamics and bolster the group’s economic clout.
The move also aligns with BRICS’ goal of promoting a multipolar world order, reducing the dominance of traditional Western powers in global economic affairs.
For Venezuela, participation in BRICS could bring much-needed economic relief. The country has faced severe economic sanctions and isolation from Western financial systems, which have crippled its economy. By aligning with BRICS, Venezuela hopes to access new markets, investments, and diplomatic support that could help stabilize its economy and strengthen its geopolitical position.
Venezuela’s Deputy UN Envoy said that the country is not only offering its oil reserves but also its commitment to fostering cooperation among developing nations. This aligns with the BRICS vision of enhancing collaboration among emerging economies to address global challenges, including energy security, sustainable development, and economic resilience.
The potential integration of Venezuela into the BRICS framework could mark a turning point for the country and the group, paving the way for more countries to consider BRICS as an alternative platform for economic and political cooperation.
