Saudi king: worldwide community must take responsibility for Rohingya crisis

06 October, 2017, 00:41 | Author: Chad Mckenzie
  • Saudi king: worldwide community must take responsibility for Rohingya crisis

As a result of the talks, the two countries may sign a number of documents to conclude landmark deals in the energy sector, infrastructure, high-tech and other sectors of the economy, which, as many experts acknowledge, will take the relationship between the world's two largest producers and exporters to the level of strategic partnership.

Saudi Arabia's King Salman arrived in Moscow on Wednesday, the first official visit to Russian Federation by a ruler of the conservative kingdom. "I remember my previous visit to your country".

It was the first ever state visit by a Saudi monarch to Russian Federation, and both sides were looking to broaden the relationship.

"Today, we alone as the Russian Direct Investment Fund announced deals worth US$2.1 billion", said Kirill Dmitriyev, the head of the fund set up to attract investment.

Saudi Foreign Affairs Minister Adel al-Jubeir said after talks with Valentina Matviyenko, chairman of the State Duma, that King Salman and Putin would sign a package of bilateral agreements of great importance.

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"Moscow has been entertaining the idea of selling its weapons to Saudi Arabia but it seems that Riyadh is not ready to go that far", Barmin told CNNMoney.

An energy forum under way in Moscow and St. Petersburg is about halfway through.

According to Novak, for the first time a substantial delegation from Saudi Arabia, including about 200 representatives and 85 CEOs of large companies has come to Russian Federation.

For Russia, "price gains are more valuable than volume gains - how much can you really pump more from last year's peak production level?" he said.

Experts believe, however, that the alliance between Moscow and Riyadh may change the current situation on the world oil market.

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Moscow and Riyadh worked together to secure a deal between OPEC and other oil producers to cut output until the end of March 2018, helping support prices.

Beyond short-term market drivers, analysts at Barclays said future oil demand could be undermined by improving fuel-efficiency and the rise of electric vehicles (EV).

Saudi Arabia's turn to Russian Federation comes after Turkey, a longtime backer of Syrian rebels, changed course and pooled efforts with Russian Federation and Iran to help broker de-escalation zones in Syria that helped reduce violence.

Putin said on Wednesday it was possible to extend an OPEC deal to cap oil output "at least until the end of 2018".

These 10 major agreements, would map the future of relations between Russian Federation and Saudi Arabia.

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Lavrov said the Saudi monarch and Putin's meeting saw a "particular focus on Syria, Iraq, Libya and Yemen".

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