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BRICS to Move Forward on Energy Association Print E-mail
by Tom McGregor    Thu, Jul 10, 2014, 10:49 PM

BEIJING:  BRICS nations, composed of Brazil, Russia, India, China and South Africa, may soon launch a major energy asscociation with funding from its BRICS Development Bank, based in Shanghai.

Russia Today reports that, "Russia is to urge its BRICS counterparts to set up an energy association that will include a fuel reserve, as well as the institute for energy policy, according to Russian presidential aide Yuri Ushakov."

Russian presidential aide Yuri Ushakov is quoted as saying that, "Russia will propose a number of specific issues for consideration, including establishing a BRICS energy association aimed at ensuring the energy security of its member states, and to conduct integrated research and analysis of global hydrocarbon markets. It is suggested that a fuel reserve and an energy policy institute for the BRICS will be created within this association."

As reported by Russia Today, "On top of that, Russia will suggest a network to link the leading universities of Russia, China, Brazil, India and South Africa that will specialize in economics and technology, TASS reports. Ushakov also said the BRICS Development Bank, expected to be officially launched at next week’s summit in Brazil, will be headquartered in Shanghai. On Wednesday Russian Finance Minister Anton Siluanov said New Delhi was the other favorite."

BRICS nations are emerging with growing diplomatic, military and economic clout.

To read the entire article from Russia Today, link here:

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