Search
Close this search box.
Search
Close this search box.

Kremlin: Putin and Saudi Crown Prince Hold Talks on Trade and Economic Ties

trade and economic ties between russia and saudi arabia

Recently, the Kremlin released a statement revealing that Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman had a telephone conversation on Wednesday. They have discussed the trade and economic ties between Russia and Saudi Arabia. The discussion primarily revolved around the collaboration within the OPEC+ alliance.

Russian and Saudi collaboration on a wide range of issues was discussed. Measures to further expand trade and economic ties and the realization of potential cooperative projects in investment, transport logistics, and energy were discussed, according to the statement.

Both parties delved into guaranteeing stability within the global energy market during the meeting. Both parties have expressed their utmost gratitude for the high level of collaboration within the ‘OPEC Plus framework. This has enabled them to take prompt and effective measures to uphold the equilibrium between oil supply and demand. As per the statement, they emphasized the significance of the accords made in the recent ministerial gathering held in Riyadh.

During their meeting, the Kremlin reported that the leaders of Russia and Saudi Arabia engaged in talks regarding the different facets of their cooperation within various multilateral organizations. They also reached an agreement to maintain communication at different levels.

According to the Russian state news agency TASS, the last telephonic conversation between the two individuals was held on April 21.

The Background

The Organization of the Petroleum Exporting Countries (OPEC) has allied with several other countries that produce oil, including Russia, Mexico, and Kazakhstan.

OPEC+ is a group of oil-producing countries and other countries interested in maintaining stable oil prices. Its members are major global economy players responsible for producing around 40% of the world’s crude oil.

Russia may be severely impacted by OPEC+’s plan to reduce oil production in April. Following Russia’s invasion of Ukraine last year, the United States and the United Kingdom promptly ceased their oil purchases from the country. The import of Russian oil transported by sea has also been halted by the European Union.

Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States comprise the Group of Seven (G7), whose members have set a $60 per barrel ceiling on Russian oil exports to keep the country’s profits down. Some analysts have suggested that the United States and other Western nations may have to lift that price ceiling if oil prices continue to increase.

 


Subscribe to Our Newsletter

Related Articles

Top Trending

po box 789 south windsor ct
P.O. Box 789 South Windsor CT: Everything You Need To Know
wwe elimination chambers in history
Complete List of All WWE Elimination Chambers in History
20 Reasons to Visit Venezuela at least Once in Your Life
20 Reasons to Visit Venezuela at Least Once in Your Life
Everton Points Deduction Reduced Appeal Outcome
Everton's Points Deduction Cut to 6 After Successful Appeal
Carbon Dioxide Fire Extinguishers
Carbon Dioxide Fire Extinguishers - The Eco-Friendly Solution for Fire Suppressio

LIFESTYLE

Egyptian Cotton Sheets for Your Bed
A Beginner's Guide to Choosing the Perfect Egyptian Cotton Sheets for Your Bed
Long Lehenga Choli
Elegance Redefined: Navigating the Diverse World of Long Lehenga Choli Designs
valentines day outfits
Top 20 Trendy Valentine's Day Outfits in 2024 For Every Occasion
eldritch foundry
Unleash Your Imagination With Eldritch Foundry Custom Miniatures
jayda wayda braids
How Long Do Jayda Wayda Braids Last [Durability and Maintenance Tips]

Entertainment

Taylor Swift Father Photographer Assault Accusation
Scott Swift, Taylor Swift's Dad, Faces Accusations From Photographer
female naruto characters
50 Most Iconic Female Naruto Characters [Ranked]
11 most paused movie scene
11 Most Paused Movie Scenes in Hollywood History
yugenanime
What Happened to Yugenanime: The Reason for Sudden Disappearance
Goth Cartoon Characters
The Evolution of Goth Cartoon Characters in Popular Culture [20 Iconic Characters]

GAMING

Most Played Games at Online Casinos
Discover the Most Played Games at Online Casinos
Crypto Gambling Innovations
Innovations in Crypto Gambling: Shaping the Future of Online Betting
User Experience Design in Online Casinos
The Role of User Experience Design in Online Casino Platforms
New Online Service for Fans of Sports Betting and Casino Games
A New Online Service for Fans of Sports Betting and Casino Games
Are Online Gaming Bonuses Worth Pursuing
Are Online Gaming Bonuses Worth Pursuing These Days?

BUSINESS

Work Life Balance Europe vs America Comparison
Europe vs America: Decoding Work-Life Balance Differences
Romania 28th Place EMEA Private Companies Ranking
Romania Rises to 28th in Top EMEA Destinations for Private Firms - PwC
Employee Advocacy
The Role of Employee Advocacy in Enhancing Your Online Reputation
Top 10 World's Wealthiest Men
Top 10 World's Wealthiest Men: 2024 Rankings Revealed
Complexities of Pricing Algorithms
Navigating the Complexities of Pricing Algorithms

TECHNOLOGY

Google Gemini Conversations Stored Years Default
Google's Gemini Set for Relaunch Post-Racial Controversy: Coming Soon!
Lenovo Transparent Laptop Future Computing
Lenovo's Transparent Laptop: A Glimpse into the Future of Computing
Google Apologizes for AI's Shocking Replies
Google Apologizes for AI's Shocking Replies on Controversial Figures
How to Encrypt Your Gmail Messages
Is Gmail Closing in August? Google Clears the Air
Software Development Career Success Tips
Tips For Succeeding In Your New Career As a Software Developer

HEALTH

Norovirus Cases Surge US Northeast CDC Report
US Norovirus Surge: CDC Highlights Spike in Northeast Cases
Top Healthiest and Unhealthiest Countries
Top Healthiest and Unhealthiest Countries Globally - 2024 Rankings
Best Way to Prevent Gum Disease
What is the Best Way to Prevent Gum Disease?
Norovirus Outbreak Northeast CDC Data
Norovirus Outbreak Hits Northeast: Latest CDC Data Reveals Spread
Brain Stimulation RTMS vs DTMS
Decoding Brain Stimulation Therapies: RTMS vs DTMS Explained