Russian President Vladimir Putin will hold talks on Thursday with the King of Saudi Arabia Salman Abdul Aziz Al Saud. It is the first state visit to Russia by a Saudi ruler, and imprints another level of improvement in relations between the nations.
According to the Russian government, “the leaders will consider joint steps to further develop bilateral cooperation in the trade, economic, investment and cultural-humanitarian areas.”
Diplomacy and cooperation between the two countries have reached a “new high” according to the Russian Energy Minister and Co-Chairman of the Russian-Saudi Intergovernmental Commission Aleksandr Novak.
“Parliamentary contacts show good dynamics and the two countries business circles maintain intensive dialogue,” he said.
As indicated by Novak, a generous and surprising designation from Saudi Arabia, including around 200 agents and 85 CEOs of extensive organizations, has arrived in Russia.
“Eighty-five heads of the largest companies flew to Russia to establish links with Russian businesses and expand ties in all areas,” the minister said.
Novak included that work is in progress to create a guide for the mid-term improvement of exchange, monetary, and specialized cooperation between Moscow and Riyadh.
Bilateral investment in a petroleum gas venture and petrochemical plants could be put pen-to-paper amid King Salman’s visit. Another venture on a $1 billion joint store to put resources into projects aimed at creating sustainable energy, is likely to be confirmed amid the visit.
Vladimir Putin and King Salman will be concentrating on sharing the burdens of responsibility regarding a cut in unrefined petroleum yield creation, which has helped prop up oil prices.
On Wednesday, Putin said he trusts the oil cut deal amongst OPEC and non-OPEC nations could be reached by March 2018.
The following OPEC meeting is set to occur in Vienna toward the end of November.
Picture Credit: October 4, 2017 © Sergei Karpukhin / Reuters