RIYADH — Saudi Arabia and Russia have united in praise for the success of the OPEC+ alliance in stabilizing global oil markets. The commendation comes as part of a broader joint statement following the visit of Russian President Vladimir Putin to Saudi Arabia. The leaders of both nations highlighted the importance of their close cooperation and the effective efforts of OPEC+ in achieving stability in the volatile oil market. The joint statement emphasized the need for continued collaboration among participating countries to adhere to the OPEC+ agreement, aiming to serve the interests of both oil producers and consumers while supporting the growth of the global economy. Crown Prince and Prime Minister Mohammed bin Salman and President Putin engaged in official talks, reviewing the historical and strategic ties between their nations and exploring avenues for further development across various sectors. Discussions also touched upon the current regional and international landscapes. Putin conveyed his congratulations to Prince Mohammed on the successful Saudi bid to host World Expo 2030. In the realm of economics, trade, and investment, both sides celebrated the significant growth in bilateral trade, with a remarkable 46% increase in 2022, compared to 2021. Emphasizing their shared economic interests, they expressed commitment to bolstering trade ties and fostering communication between the private sectors to identify and capitalize on promising opportunities. The leaders underscored their dedication to advancing mutual and joint investments, facilitating private sector initiatives, organizing joint investment forums, and addressing the challenges to ensure a conducive investment environment. The leaders applauded achievements of the 8th session of the Saudi-Russian Joint Committee, held in Moscow in October 2023, which identified new areas for collaboration. Mutual agreement was reached on the significance of enhancing cooperation in various areas, including oil and gas, geoscience, environment, water, agriculture, food security, communications, technology, digital economy, innovation, space, transportation, logistics, judiciary, justice, sustainable tourism, sports, education, higher education, research, innovation, medical training, technical and vocational training, language teaching, media, and healthcare. President Putin expressed support for the "Saudi Green Initiative" and the "Middle East Green Initiative," endorsing the circular carbon economy approach. Both leaders stressed their adherence to climate change agreements and the implementation of climate accords focusing on emissions. The leaders expressed their commitment to maximizing local content in energy projects, promoting innovation, and integrating emerging technologies such as artificial intelligence. Acknowledging successful joint investments in industrial projects in the Kingdom, including factories in Jubail and Yanbu, with investments totaling SR300 million, the leaders highlighted the positive trajectory of their economic collaboration. In defense and security, both sides agreed to enhance cooperation to achieve common interests. They affirmed their commitment to strengthening security cooperation, combating various crimes, terrorism, extremism, and exchanging information for the collective security and stability of both nations. The leaders also expressed determination to combat cross-border crimes through international cooperation, leveraging the GlobE Network. On the international stage, the leaders pledged to coordinate efforts to maintain international peace and security, exchanging views on regional and global issues. They emphasized their support for peace initiatives and stability worldwide. Concerning the situation in Palestine, the leaders expressed deep concern about the humanitarian crisis in Gaza, urging a halt to military operations, protection of civilians according to international law, and facilitating humanitarian aid. Both leaders stressed the importance of implementing international resolutions for a two-state solution. Addressing the Ukraine crisis, President Putin appreciated the humanitarian and political efforts led by Crown Prince Mohammed bin Salman, including the release of prisoners. On Yemen, both sides fully supported international and regional efforts for a comprehensive political solution. President Putin praised Saudi efforts in facilitating dialogue, providing humanitarian aid, financial support to the Yemeni government, and developmental projects through the Saudi Program for Development and Reconstruction for Yemen. President Putin welcomed the resumption of diplomatic relations between Saudi Arabia and Iran, emphasizing the importance of Iran's commitment to peaceful nuclear programs and transparent cooperation with the International Atomic Energy Agency. Regarding Syria, the leaders commended the Arab League's decision to resume the participation of Syrian government delegations, expressing hope for resolving the Syrian crisis ensuring stability and territorial integrity, nd facilitating the voluntary return of the Syrian refugees.
