Brazil Announces Nigeria’s Inclusion in BRICS as a Partner State
Brazil, currently presiding over the BRICS group of emerging economies,
announced Nigeria’s inclusion as a partner state.
This makes Nigeria the ninth partner country, joining others like Belarus,
Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
Topic
Brazil
The Brazilian government stated on Friday that Nigeria, the largest African country by population
and the sixth largest globally, shares common interests with other BRICS members.
Nigeria plays a significant role in enhancing South-South cooperation and reforming global governance,
which are among Brazil’s current presidential priorities.
It is noteworthy that the BRICS group was established in 2006, held its first summit in 2009,
and initially comprised Brazil, Russia, India, and China. South Africa joined in 2010.
Last year, Iran, Egypt, Ethiopia, and the UAE also joined the group.
Russia
Russian Oil Shipping Costs to India Rise by 25% Post-U.S. Sanctions
Shipping costs for Russian oil from western ports in Russia to India surged by 25% last week,
according to trade sources and calculations by Reuters.
This increase followed U.S. sanctions on 183 vessels used to export Russian energy.
Despite the sanctions, India and China continue to purchase Russian oil,
benefiting from the grace period announced by Washington, which lasts until March.
For Aframax tankers from Russian Baltic ports to India, the cost per trip rose to between $6 million and $6.3 million,
up from $4.7 million to $4.9 million the previous week.
Although costs have increased, they remain far below the 2022 peak of $20 million per trip
following the initial Western sanctions on Russia’s oil sector.
Similarly, the cost of transporting oil from Russia’s Novorossiysk port on the Black Sea to India
via Suezmax tankers rose to approximately $5.5 million per trip,
reflecting ongoing pressure on shipping costs due to sanctions.
Trump
Trump Holds Positive Call with Chinese President Xi Jinping Before Inauguration
U.S. President Donald Trump announced on Friday that he had a “very good” phone conversation
with Chinese President Xi Jinping just days before his inauguration.
On his social media platform, “Truth Social,” Trump said the two leaders discussed important issues, including trade and the TikTok app.
He expressed optimism about resolving many bilateral issues and initiating cooperation immediately.
Trump remarked, “The conversation was excellent, and we agreed to work together to make the world safer and more peaceful.”
Meanwhile, China’s Ministry of Foreign Affairs announced that President Xi would not attend the inauguration ceremony on Monday but would send Vice President Han Zheng as his special representative to participate in the event.
Brazil Announces Nigeria’s Inclusion in BRICS as a Partner State