Putin leads BRIC alliance (Brazil, Russia, India, China) and plays oil trump card – some Russian Yukos oil assets for China and India
Sudhir Chadda, Special Correspondent
January 04, 2005

Russian President Putin has nationalized the Yukos oil company – the largest oil producer of Russia. It is evident that the West and BRIC will confront each other during the next ten years on energy. As Russia is pushed back by the Western nations especially America, Putin leads the BRIC alliance and plays the oil trump card.

All said and done, the world is already fighting a cold war on crude oil. As China, India and Brazil, their oil appetite will make them glued to Russia and each other. Venezuela well influenced by Brazil will provide additional oil assets to BRIC. 

According to sources, the Yukos oil assets are being nationalized. Minority interests in Yukos will be sold to China and India. China and India has money and need to buy the oil assets.

Putin’s recent visit to India, China and Brazil and Germany spells strategic planning on controlling accessible international oil assets. 

India and China are concerned that the Western nations will try to choke oil supply so that they cannot grow enough to control the world economy in ten to fifteen years. But Russia is eager to have BRIC alliance members to prosper and dominate the world financial and technological scenes.

China has already secured Venezuelan oil assets. India is eagerly looking for oil assets central Asia, These countries cannot depend upon middle-east oil because of instability and unreliable characteristics of oil supply.

Putin by offering the Yukos oil assets to Asian giants have finally glued the BRIC alliance where they can publicly come together as a group. 

There is another explanation of this talk on Yukos oil assets for India and China. Putin may use this as a counter measure on what happens in Ukraine.