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Russian Oil Minister Alexander Novak: Remarkable Progress in Riyadh-Moscow Relations | ASHARQ AL-AWSAT English Archive 2005 -2017
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Russian Energy Minister Alexander Novak speaks during a news briefing at the Russia-ASEAN summit in Sochi, Russia, May 20, 2016. Host photo agency via Reuters

Riyadh- Russian Oil Minister Alexander Novak said that cooperation opportunities between Russia and Saudi Arabia are wide and vital, adding that there are more than 20 products by which Moscow can do business with Riyadh to reinforce their future cooperation, expecting a remarkable progress in the economic relations between the two countries.

Prior to his meeting with the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, Novak told Asharq al-Awsat that Russia and Saudi Arabia agreed on a road-map on how to enhance cooperation and achieve benefits on various fields.

Speaking on the recently held meeting between the Russians and Gulf, Novak said that discussions tackled possible way of dealing with OPEC countries, given that the next meeting will combine the member and non-member countries of OPEC on 28-29 October in Vienna.

Novak hailed his visit to Saudi Arabia saying that, “the most important goal achieved during the visit to Saudi Arabia is: getting introduced to the Saudi advanced expertise in producing oil, hence increasing cooperation in technological industries and services in a number of projects.”

Commenting on the Russian-Gulf meeting, Novak described it as a rare and essential chance for both parties. “The meeting permitted the access to several answers on urgent topics related to the nature of cooperation for the sake of stabilizing the oil market,” he said.

“This meeting created a rare chance for negotiations that will affect the market and the bilateral cooperation since the convening parties discussed the current situation of the energy market and other challenges,” added Novak.

Whether there will be a nuclear cooperation between Moscow and Riyadh, “I think that the nuclear cooperation between the two countries is one of the basic foundations of the comprehensive cooperation that includes various vital aspects.”