Saudi King Makes First State Visit to Russian Federation

Russia satisfied with current oil prices Novak

As many as 100 Saudi businessmen are accompanying King Salman on his trip to Moscow.

Saudi Arabia's King Salman arrives in Russian Federation. Saudi Arabia is one of the biggest spenders in the world. The parties meticulously discussed the agenda of the talks and took account of geopolitical factors.

Vision 2030, a blueprint for Saudi Arabia to move its economy away from oil, is driving that change.

At the same time, Saudi Arabia continues to present itself as a regional and global player that is indispensable.

"I´m discussing." Venezuela´s oil minister, Eulogio del Pino, also said there were discussions on whether to cut further or extend the deal.

He further said that Russian Federation is satisfied with the current level of oil prices.

Earlier, Russia invited Turkmenistan to join the OPEC oil output cut deal. The agreement regulated actions between oil producing countries to cut their oil output, which made it possible to stabilize oil prices on the world market after their considerable decline.

Saudi Arabia is competing with Iraq to be India's top oil supplier, with Iraq displacing it for a fifth month in a row in August, data compiled by Reuters showed.

In addition, Saudi Arabia is trying to build a closer relationship with President Trump and his administration, while the USA has sanctioned Russian Federation over its involvement in the Ukraine crisis.

On or hand, two countries continue to cooperate in efforts conducted by OPEC and non-OPEC countries for balancing of oil prices.

Meanwhile, Pentagon chief Jim Mattis tried to clear up doubts about the U.S. administration's North Korea strategy Tuesday, backing Secretary of State Rex Tillerson's effort to find a diplomatic solution to the nuclear standoff, AFP reported.

King Salman's visit to Russian Federation has been widely interpreted as a sign of Russia's growing influence in the Middle East.

The expert called attention to the fact that Moscow and Riyadh's cooperation in business and energy trade has already borne fruit.

As part of the agreement signed in Moscow today, Russian Federation will transfer technology and localize the manufacturing and sustainment of these armament systems in the Kingdom, a press statement from the Saudi Arabian Military Industries (SAMI) said. However, no contracts have been signed yet.

In July, Rostec CEO Sergei Chemezov announced the signing of a preliminary agreement in the field of defense cooperation between the Russian Federation and Saudi Arabia in the amount of 3.5 billion USA dollars.

The S-400 missile system.

The statement came as Saudi Arabia's King Salman visited Moscow. That marked a shift for the kingdom, which buys most of its military kit from the United States and Britain.

Russian Federation and Saudi Arabia are heavily dependent on oil exports and the global plunge of the price of crude that began in 2014 lashed both their economies. Both are US allies, strong USA allies. And even after publicly accepting the USA intelligence community's assessment that the Kremlin interfered in the 2016 presidential election with the aim of boosting Trump, the president has continued to downplay the Russia-cyberattack narrative and ensuing investigations into whether his associates colluded with Russian agents as a "hoax".

If Putin decides to run, he is widely expected to win a landslide victory in the first round, because he will face no strong challenge.

"We warmly welcome King Salman and we hope that his visit would contribute to strengthening economic, political, cultural and religious relations between our countries", he stated.

"Is there anything in the world that stays unchanged?" "Russian Federation is another major producer of the commodity, and it is possible that Saudi Arabia is looking for an ally". The heads of the countries of the Middle East maintain close ties with Moscow.

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