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undergroundnewsroom.com October 20, 2017


Saudi king signs lucrative deals on landmark Russian Federation visit

06 October 2017, 12:38 | Damon Campbell

Saudi king signs lucrative deals on landmark Russian Federation visit

Saudi king signs lucrative deals on landmark Russian Federation visit

During his visit to Moscow, Saudi King Salman signed multi-billion dollar economic agreements, including a partnership between Russian Federation, the Public Investment Fund (PIF) and Mubadala to invest in infrastructure.

Salman and his retinue looked on in confusion for several moments, before the 81-year-old king began to descend the staircase step by step.

Saudi Arabia and Russian Federation have very little in common.

Navalny, a vocal critic of President Vladimir Putin, was jailed for 20 days on Monday for repeatedly violating laws governing the organization of public meetings and rallies.

The two countries also signed a deal to set up a $1 billion joint investment fund.

Speaking in an interview broadcast on Al Arabiya TV on Monday, Novak said that the fund will focus on "strengthening of cooperation in oil, gas, electricity renewable energy and other projects for oil and gas equipment".

"The partnership with one of Saudi Arabia's biggest petrochemical companies will allow Sibur to develop its expertise and sales areas and to study.the Middle East market", Sibur Chairman Dmitry Konov said.

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Russian Federation agreed to help the kingdom develop its own military industries including a plan to "localise the manufacturing and sustainment of parts of the S-400" system and the of the Kalashnikov automatic rifle and its ammunition in Saudi Arabia, Sami said.

"The visit is likely to strengthen trade ties between Russian Federation and Saudi Arabia, but most are wondering whether two of the world's major oil producers will be discussing a collaboration to improve the price of oil", Ahmad said.

"Relations between Russian Federation and Saudi Arabia have reached a historical moment", said Jubeir, speaking through an interpreter.

"I haven't decided whether I'm going to run at all". They have become hostage to the domestic political situation in the U.S. Certain forces are using Russian-American relations to address internal political issues.

"Today we see the market is in balance and we are seeing a return on investment in the industry", Novak said.

"Bullish comments from the Russian and Saudi energy ministers are helping arrest the recent decline in oil prices", said Stephen Brennock, analyst at London brokerage PVM Oil Associates. If the Saudis make direct investments in Russian assets, this will undoubtedly show influence on the entire oil market. Even though the United States still takes the dominant position in the Middle East, the adherence of the region to traditional alliances has been weakening recently while regional leaders try to look for alternatives.



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