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Saudi-Russian Agreement over Oil Policy, Settling Regional Crises | ASHARQ AL-AWSAT English Archive 2005 -2017
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Russian President Vladimir Putin shakes hands with Saudi Deputy Crown Prince and Defence Minister Mohammed bin Salman during a meeting at the Kremlin in Moscow, Russia, May 30, 2017. REUTERS/Pavel Golovkin/Pool

Riyadh- Russian-Saudi talks held between Russian President Vladimir Putin and Saudi Arabia’s Deputy Crown Prince and Defense Minster Mohammed bin Salman bin Abdulaziz addressed bilateral ties, political stances and economic agreement regarding oil policy.

Speaking from the Kremlin, Putin announced on Tuesday that his country looks forward to hosting Saudi Arabian King Salman bin Abdulaziz.

Upon receiving Deputy Crown Prince Mohammed in Moscow, Putin said that Russia and Saudi Arabia, together, may arrive at a solution for the ongoing crisis in Syria.

The two sides also reviewed the Saudi-Russian cooperation in the field of petrochemical industries and a number of oil industries, as well as the partnership and uniting efforts to combat terrorism and extremist thought in Central Asia, regional issues and the Syrian crisis, said the Saudi Press Agency (SPA).

For its part, Russian news agency (TASS) said that Saudi Arabia and Russia are amid discussions for cooperation in over 25 economic projects.

Putin stressed the importance of ties with Saudi Arabia, expressing appreciation towards Riyadh promoting and endorsing a unanimous effort between OPEC and non-OPEC states.

For his part, Deputy Crown Prince Mohammed reassured that Saudi Arabia and Russia together have achieved a lot, with more laying ahead.

All the more, he confirmed that both countries are in agreement with what regards oil market policy.

During the meeting, Putin and Deputy Crown Prince Mohammed discussed ways of enhancing Saudi-Russian oil agreement, which was led by the Kingdom, among non-OPEC oil producing countries, especially Russia, and discussed means of stimulating their market dynamic to achieve positive returns, stabilizing oil markets.

The meeting was attended by Foreign Affairs Minister Adel Al-Jubeir; Trade and Investment Minister Dr. Majid Al-Qassabi, Energy Minister Eng. Khalid Al-Faleh, and a number of officials from Saudi and Russian sides.