Fortaleza, Brazil:
Russian President Vladimir Putin on Tuesday proposed setting up a BRICS energy association, which would include a fuel reserve, to increase the energy security of emerging nations.
"We suggest to set up an energy association of the BRICS. Under its roof, one could set up a reserve fuel bank and an institute for energy safety," he told the leaders of Brazil, India, China and South Africa after they announced the creation of a bank and a reserve currency pool each worth $100 billion.
"These steps would help strengthen the energy safety of our nations," he said.
"We suggest to set up an energy association of the BRICS. Under its roof, one could set up a reserve fuel bank and an institute for energy safety," he told the leaders of Brazil, India, China and South Africa after they announced the creation of a bank and a reserve currency pool each worth $100 billion.
"These steps would help strengthen the energy safety of our nations," he said.
© Thomson Reuters 2014
