Source: TASS Published: 2024-04-01

The BRICS association, which includes the largest energy producing countries, has become an influential organization on the global energy market, Marco Fernandes, researcher at the Tricontinental Institute of Public Research, said.

'Energy is probably the key asset for industrialization. If you don't have energy, you're out of the game. The BRICS countries, with their combined energy capabilities, have become a superpower in energy.' Fernandes said at a conference on the prospects for the development of the Chinese economy at the Chongyang Institute of Financial Studies at the Renmin University of China

The expert noted that the BRICS countries accounted for 45% of the world's oil reserves and 56% of gas reserves. According to him, Russia alone accounts for half of the world's production of enriched uranium, while Russia and China account for about 70%.

China is the largest producer of renewable energy, followed by the United States in second place, Brazil in third, and India in fourth. 'Brazil, China and India combined produce more renewable energy than all the G7 countries,' Fernandes said.