Selman bin Abdulaziz, first king of Saudi Arabia to visit Russia, arrived in Moscow yesterday for three-day formal talks. King Selman's meetings in Moscow include energy market, Middle East, civil war in Syria and Iran. The visit of 100 business man is planned to make 25 agreements in different areas, while King Salman is expected to sign a $3.5 billion weapons purchase agreement. "This is first visit to Russia by King of Saudi Arabia in history of bilateral relations," Putin said after interview with King Selman in Moscow. This visit is a breakthrough in itself. Our relations have an extremely large history, "he said. Putin described meeting with King Selman as "meaningful, exceptional and confidential". King Selman used following statements: "We are happy to be in a friendly country. We intend to develop bilateral relations for development of global economy with peace and security. "Ad
Challenging process with Riyadh
The oil giant's meeting of se two former opponents is a precursor to restructuring of global power relations. The two sides are advancing long-term hostility, making commercial and economic agreements and negotiating potential for peace in Syria. The first day of visit, 14 agreements signed by parties in Syria, priority of fight against terrorism announced that y have agreed. The Riyadh Administration, which is converging on Russia, aims to diversify its diplomatic relations and reduce dependence on United States, while key players in region develop strong partnerships with Turkey and Iran, a challenging process to conduct Moscow with Saudi Arabia Waiting.
Russia is thirsty for investment
The energy sector needs investment in Russia, where Western countries impose sanctions on Crimean occupation and war grounds in Ukraine. Moscow has also headed to Saudi Arabia after China and Qatar to meet its investment needs.Ad
1 Billion Dollar Fund
Russian Energy Minister Aleksander Novak announced that total value of agreements to be signed during visit will be $3 billion. Putin and King Selman are also expected to establish an investment fund of about $1 billion to support energy projects.
- They agreed to S-400
- Al Arabiya has announced that Saudi Arabia and Russia agree to purchase S-400 missile defence system. The agreement is considered to be a major move for Moscow's search for new markets for its defence industry. In coming period, cooperation between two countries is expected to strengn in field of defence industry.
The top manager of Russia's largest oil company, Rosneft, has announced that world's largest oil company, Saudi Aramco, wants to take part in planned IPO next year. King Selman's visit also carries a consultation before summit of oil-exporting Countries organization (OPEC), which will be held next month in Vienna, capital of Austria. Russia and Saudi Arabia are one of strongest members of OPEC. OPEC countries have decided to divide oil production due to oil prices falling in last December.Ad