Russian President Vladimir Putin arrived in the Saudi capital on his first visit since 2007, and was welcomed to Al-Yamamah Palace by King Salman as well as Crown Prince Mohammed bin Salman. (Photos: Saudi Press Agency). A multimillion-dollar tranche of deals signed in Riyadh set the seal on Russian President Vladimir Putin’s first official visit to Saudi Arabia since 2012. The 20 agreements covered oil and other energy industries, space and satellite navigation, justice, health services, tax administration, mineral wealth, tourism and aviation, along with cultural cooperation and the enhancement of trade relations.
The key deal was an agreement to increase cooperation in the OPEC+ group — the Organization of the Petroleum Exporting Countries, led by Saudi Arabia, plus 10 non-members led by Russia. Moscow has worked closely with OPEC to limit supply and stabilize prices after a 2014 slump. Monday’s deal seeks to “reinforce cooperation ... and strengthen oil market stability,” Saudi Energy Minister Prince Abdulaziz bin Salman said at the signing ceremony. Prince Abdulaziz said the two countries had begun a new phase of cooperation. “At the Saudi-Russian Joint Committee, we are working together to harmonize the Kingdom’s Vision 2030 reform plans with its strategic objectives and Russia’s strategic development plans,” he said.
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