Brics agrees to safeguard energy flows as oil prices soar

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Brics countries have agreed to work together to protect global energy supplies and keep trade moving amid growing instability in West Asia, Al Jazeera reports.

Speaking at a press briefing following the summit, Sudhakar Dalela, secretary for economic relations at India’s Ministry of External Affairs, has said energy supplies in West Asia were discussed at the leaders’ meeting in India.

“I think there was a question about energy supplies in the context of West Asia. I mean, these matters did come up. I mean, we have a sort of a very important track on energy also within the Brics, but in the context of geopolitical situation, these matters are discussed,” he says.

The Brics meeting took place in New Delhi as global oil prices soared past $108 a barrel briefly during the week, driven by market worries over potential shipping disruptions and supply bottlenecks in the region.

“We have articulated very clearly that all of us have to work together to maintain smooth flow of global trade, supply chains and energy supplies, which are in accordance with the international law, of course”, Dalela says.

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