Russia-Saudi ties: President Vladimir Putin in Riyadh

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Having a foreign sovereign investor, as well as a listing on a foreign stock exchange, could be a part of the later strategy to sell around 5 per cent of the state-owned company to private investors.

"In Soviet times, relations between Saudi Arabia and the Soviet Union were at a rather low level".

Saudi and Russian chief executives kick off on Monday a business forum to discuss means of enhancing future partnership in energy and industry, in addition to sustainable partnership in agriculture and food security strategies. Embattled Israeli Prime Minister Benjamin Netanyahu visited Russian Federation to meet with Putin last month, just days before a bitterly contested election.

"There will also be a deal in the area of petrochemistry, with (Saudi Arabia's) Sabic, but not with (Russia's) Sibur", Dmitriev noted. Putin then travels to the United Arab Emirates.

Iran's attack on two Saudi oil plants left Saudi Arabia's output depleted and also provoked oil markets to spiral out of control for a few days. Saudi Arabia likely wants to talk about ongoing tensions gripping the wider Middle East, where the kingdom is locked in a standoff with its archrival Iran and Turkey's military campaign in Syria has launched an added crisis.

The U.S. pullout resulted in a last-minute agreement between forces loyal to Syrian President Bashar al-Assad and Kurdish forces, once on opposing sides of Syria's long-running civil war.

The announcement that troops would be sent to Saudi Arabia came as USA forces were abruptly pulled out of northeastern Syria, allowing a Turkish offensive that threatened to devastate Syrian Kurds, who had been instrumental in the fight against the Islamic State.

Russian Federation and Iran are allied with the regime of Bashar al-Assad, while the Saudis support the opposition.

He also highlights that Russian air defence systems could more likely shoot down United States or Israeli warplanes than those of Iran since they could identify the USA -made planes as unfriendly.

According to Qahtani, the Saudi-Russian economic relationship has a strong base, in the form of business and investment agreements executed by the Saudi-Russian Joint Committee and the Saudi-Russian Business Council. "The missile program is one thing and the nuclear program is another thing", he said. He said that while his government did not need to mediate, it could play a role.

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