Russia Calls on BRICS to Create Joint Oil and Gas Processing Facilities

(Image Source: Reuters)

By TASS

Russia’s Industry and Trade Minister Denis Manturov called on the BRICS countries to create joint ventures for the processing of oil and gas without the participation of external “unreliable partners”.

“As compared to a number of other countries, we are, of course, largely protected from risks, given our well-established cooperation in this area. But we have the opportunity to shift towards higher-margin products obtained from advanced oil refining and gas processing. In this respect, there are good opportunities to create joint ventures that cover all our needs without the participation of external, unreliable partners,” Manturov said at a meeting with the ministers of industry of the BRICS countries.

Speaking about biological safety, the minister noted that given the strong positions of China and India in the production of pharmaceutical substances, joint efforts “could change the global balance of power in developing innovative drugs and vaccines, conducting joint research on coming threats to the health and lives of our citizens.”

“In fact, our countries have already embarked on this path, having established operational cooperation in the fight against the pandemic,” Manturov stressed. He also invited the ministers of industry of the BRICS countries to the St. Petersburg International Economic Forum, which will be held in June.

Source: TASS