Saudi king's visit to Russian Federation heralds shift in global power structures

Saudi king's visit to Russian Federation heralds shift in global power structures

Saudi king's visit to Russian Federation heralds shift in global power structures

Khalid Bin Abdulaziz Al-Falih, Saudi Arabia's energy minister and president of OPEC, speaks as Alexander Novak, Russia's energy minister, left, listens during a news conference following the 172nd Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, May 25, 2017.

King Salman may also seek assurances from Moscow that Iran will not have a permanent role in Syria.

King Salam's delegation agreed joint investment deals worth billions of pounds providing a boost to the Russian economy after it was battered by low oil prices.

Addressing regional affairs, King Salman told Putin that Iran must stop meddling in Middle Eastern conflicts.

Fyodor Lukyanov, the Kremlin-connected chairman of the Council on Foreign and Defence Policy, said Riyadh saw closer ties with Moscow as expedient for the moment, and was "diversifying risks" by buying arms from both Moscow and the US.

The first thing that comes to mind when discussing the relations between the two countries is the Syrian issue.

In addition, the Saudi fund will invest 100 million dollars in the construction and operation of roads, railways, city transport and other public-private projects in Russian Federation.

Salman in his reply called Russian Federation a "friendly nation" and said his country is committed to strengthen ties "in the interests of peace and security".

Saudi Arabia and Russian Federation helped secure the deal between Opec and 10 rival suppliers to cut output until the end of March next year in an effort to reduce a glut.

Riyadh and Moscow reached an inevitable result in their future relations that they would rather focus more on common interests available in promising fields rather than disagreeing on issues that affected them negatively.

She also expressed her gratitude to the Saudi foreign minister for his cooperation with Moscow, especially with his Russian counterpart Sergei Lavrov.

The report came during a visit by Saudi King Salman to Moscow.

Saudi Arabia's King Salman had an unforgettable arrival in Moscow on Wednesday when his gold escalator broke down as he was exiting his private plane.

"Saudi Arabia needs Russian Federation to help stabilize the oil market".

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

Saudi-U.S. ties were strained under the Obama administration over its backing of a nuclear agreement with Iran and its handling of the Syrian conflict.

A slew of investment agreements are due to be signed during King Salman's four-day trip.

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