Expansion of BRICS Crucial for Energy Sector: Venezuelan Foreign Minister
10:10 25.09.2023 (Updated: 07:21 29.09.2023)
© AP Photo / Mary Altaffer
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UNITED NATIONS (Sputnik) – The ongoing UN General Assembly High-Level Week (September 19 to 26) in New York has gathered political leaders and officials from around the world. Sputnik interviewed Venezuelan Foreign Minister Yvan Gil on the sidelines of the meeting.
The expansion of BRICS is very important especially for energy sector, as after the inclusion of new members the bloc will account for over 80% of global oil reserves and production, Venezuelan Foreign Minister Yvan Gil told Sputnik on the sidelines of the UN General Assembly High-Level Week in New York.
"The expansion of BRICS is extremely important, particularly in the energy sector, since we are talking about the fact that with the accession of Saudi Arabia, Iran, and countries such as Venezuela in the future, more than 80% of the world's oil reserves and its production will fall within the scope of BRICS," Gil said.
Moreover, BRICS's member states will collectively be the world's key energy consumer, he added.
The official sees BRICS's expansion as an "ideal alliance of perfect complementarity."
"This is a new order, not only political but also economic and, of course, if we manage over time to consolidate the de-dollarization of trade in energy and industrial goods, for example, technologies that are produced in China and India, we will really contribute to the creation of a more balanced world," he expressed.
Venezuela Hopes to Become BRICS Member
Venezuela hopes to become a member of the BRICS bloc soon, as it sees support for its application from all member states, including Russia, Venezuelan Foreign Minister asserted.
"We took part in the BRICS summit in Johannesburg and we are very happy to be [the bloc's] partner. We, along with 22 other countries, have applied for membership. We welcome BRICS's expansion, which it has or will have starting in January, when the presidency will be transferred to Russia. Venezuela is determined to become an official member of the bloc soon. Brazil, Russia, China and South Africa support us decisively, all countries support our candidacy. We have no problems with that and are working on it," Gil said.
He said Venezuela was already working in all BRICS commissions and exchanging information with the members.
Sanctions Are 'Pointless & Must Be Lifted'
Venezuela has discussed unconditional lifting of unilateral sanctions against the country with "all members of the international system," including the United States.
"Sanctions are pointless and must be lifted. Venezuela is prepared to hold and hold negotiations with all members of the international system, including the US, demanding full and unconditional lifting of sanctions," Gil said.
He said Venezuelan President Nicolas Maduro tasked a team, led by parliament speaker Jorge Rodriguez, with negotiating specifically with the US and US-supported opposition.
"While the negotiations run their natural course, Venezuela keeps faith that Washington will return to reason and will lift sanctions immediately," Gil said.
He also said that Venezuela has held a range of "positive" bilateral and multilateral meetings at the UN General Assembly.
"We have deployed our Bolivarian peace diplomacy. The meetings were very positive and we have found an atmosphere of support for the [Venezuelan] government, primarily with regard to the issue of lifting unilateral coercive measures and sanctions against our country," the top Venezuelan diplomat added.
Catering to US Interests Will Weaken Europe
There is a political force inside the European Union that may weaken the bloc by continuously aligning with the United States' interests, Venezuelan Foreign Minister Yvan Gil told Sputnik, adding that Europe should choose its path independently.
"If Europe continues to lean toward the plans of the United States, then we will observe an increasingly weakened Europe. Europe has an alternative, it must choose its own destiny. I hope it does that, and if it does, … it will become another power in a multipolar world, an important political pole. Unfortunately, according to the signs that we see, there is a political force inside Europe that prefers to be adjusted to the US's pole," Gil told Sputnik on the sidelines of the UN General Assembly in New York.
The Venezuelan top diplomat said that Europe itself is "a very important pole" and it should "politically win back its space as a world power."
'Coercive' Use of US Dollar to End Soon
The US dollar is often used as a coercion weapon on a state level, but it will be over soon enough, as other options for international trade will emerge, Venezuelan Top Dimplomat told Sputnik.
At the BRICS summit in Johannesburg in late August, the bloc's leaders adopted a declaration that calls for using local currencies in mutual trade and the "strengthening of correspondent banking networks between the BRICS countries and enabling settlement in local currencies."
"Establishing a new world order will certainly contribute to the dollar no longer being the only currency in international trade. We can already see how day after day products like energy carriers are increasingly often being traded in currencies other than the dollar," Gil said.
He said large Latin American food exporters like Argentina and Brazil are also starting to use non-dollar currencies more often.
"I think that soon enough we will see other options in international trade, and the dollar's hegemony will dwindle, which is something we all want. Because the dollar today is being used as a coercion weapon against countries, this balance, this emerging currency basket, will be very good for global trade exactly because it would provide stability to all our countries," the top Venezuelan diplomat said.
Earlier in September, geopolitical analyst Pepe Escobar told Sputnik that the countries of the BRICS group of major emerging economies – Brazil, Russia, India, China and South Africa – should work on a unification of payment systems and a mechanism to trade in national currencies to boost mutual trade and be more independent.
The theme of the 78th session of the United Nations General Assembly is "Rebuilding Trust and Reigniting Global Solidarity: Accelerating Action on the 2030 Agenda and its Sustainable Development Goals Towards Peace, Prosperity, Progress, and Sustainability for All."
