Thursday, 14 Nov 2019

Custodian of the Two Holy Mosques, President of Russian Federation, Witness Saudi-Russian Energy Partnership Event, Co-signing Cooperation Charter, Exchanging Agreements’ Ceremonies

Riyadh, The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and the President of the Russian Federation Vladimir Putin witnessed here today, the Saudi-Russian Energy Partnership Event, for co-signing of the cooperation charter and exchanging agreements between the governments of the Kingdom of Saudi Arabia and the Russian Federation, in the presence of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense.

At the outset of the event, Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, delivered a speech, pointing out that the Kingdom of Saudi Arabia and the Russian Federation have started a new phase of cooperation and integration, in many development domains, aimed at achieving prosperity and progress, for both countries.

"In the Saudi-Russian Joint Committee, we are working together to harmonize the ambitions and strategic objectives of the Kingdom Vision 2030 with the ambitions and objectives of the strategic development plans of Russia, and as a result of this, the Saudi-Russian high-level strategic cooperation agreement are to be exchanged here today" he added.

"We aim, through the agreements which will be exchanged to develop many economic and development fields, which include: petroleum industry, other energy sectors, scientific research, space, justice, health services, tax administration, mineral wealth, tourism, aviation industry, cultural cooperation, strengthen trade relations and other sectors, as the relevant government agencies, such as sovereign investment funds, state-owned enterprises and the private sector, in both countries, will contribute to the great effort, in this field" he stated.

He remarked that on the initiative of the Kingdom of Saudi Arabia and the Russian Federation, the discussion on the proposed institutional framework has begun, in early 2015, resulted in the OPEC + agreement among the producing countries of OPEC members and outsider producers, at the end of 2016, supported by the Custodian of the Two Holy Mosques, the President of the Russian Federation and HRH Crown Prince, to form an effective partnership that supported the ability of cooperation among producing countries, to enhance the stability of the oil market.

Source: Saudi Press Agency

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