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Saudi's MbS will not participate in Russia's BRICS summit

Saudi Crown Prince Mohammed bin Salman is not anticipated to participate in the Russianhosted BRICS top later this month, according to the Kremlin, which said the world's biggest oil exporter would be represented by the Kingdom's foreign minister.

BRICS, originally Brazil, Russia, India and China, has broadened over the last few years to consist of South Africa, Egypt, Ethiopia, Iran, United Arab Emirates and Saudi Arabia.

President Vladimir Putin's foreign policy assistant, Yuri Ushakov, said that nine of the 10 BRICS member states would send their leaders, though Saudi Arabia would send its foreign minister, Prince Faisal bin Farhan Al Saud, to the top in the Russian city of Kazan.

He did not give a reason for the expected absence of the crown prince, known as MbS.

Ushakov stated BRICS is a structure that can not be disregarded.

He said BRICS members accounted for 45% of the world's. population, about 40% of oil production and about a quarter of. worldwide goods exports.

The term BRIC was created by Goldman Sachs economic expert Jim. O'Neill in 2003 to explain how the four rising economies of. Brazil, Russia, India and China are likely to match and overtake. many of the West's leading economies over the next half century.

In the 2 decades since then, the group has formed into an. official structure though its economic weight is largely made up. by China, the world's second biggest economy, and critics say. the major members of the grouping have contradictory aims.

(source: Reuters)