KSA, Russia to cooperate on oil market stability

KSA, Russia to cooperate on oil market stability

September 05, 2016
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Saudi Gazette report

HANGZHOU, China — Cooperation between Saudi Arabia and Russia will bring benefits to the global oil market, Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, told Russian President Vladimir Putin during their meeting on the sidelines of the G20 Summit in the Chinese city of Hangzhou on Sunday. Saudi Arabia hopes to work with Russia for oil market stability, Prince Muhammad said after meeting the Russian president.

Putin told reporters it was important for Russia to maintain a dialogue with Saudi Arabia.

“We attach great significance to expanding multifaceted and mutually beneficial cooperation with Saudi Arabia. This also applies to our bilateral relations, bearing in mind that we are the largest oil-producing countries. This also applies to international issues. We believe that without Saudi Arabia, no serious issue in the region, of course, cannot be solved,” Putin said.

The Deputy Crown Prince held separate talks with a number of leaders on the sidelines of the G20 Summit. Prominent among those were Indonesian President Joko Widodo, Britain’s Prime Minister Theresa May, Indian Prime Minister Narendra Modi, US Secretary of State John Kerry, Managing Director of the International Monetary Fund Christine Lagarde, Turkish President Recep Tayyip Erdogan.


September 05, 2016
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