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US3.5B Arms Deal on Saudi King Salman's Moscow Agenda

07 October 2017, 12:46 | Myrtle Vega

US3.5B Arms Deal on Saudi King Salman's Moscow Agenda

Russian President Vladimir Putin has said that some construction work on the venues for the 2018 FIFA World Cup in the country remains behind schedule

Putin has said that Moscow is aware of Iran's and Saudi Arabia's concerns over the settlement in Syria and is determined to seek compromise.

These agreements are "expected to play a pivotal role in the growth and development of the military and military systems industry in Saudi Arabia", Saudi Arabian Military Industries (SAMI), the Sunni state's military industries firm said.

Putin described his talk with the Saudi king as very productive, according to comments carried by state media.

OPEC members have joined with Russian Federation and other countries in cutting crude output in a pact that has helped prop up prices.

In Russia, King Salman also called on Iran to "stop interference in the region's affairs and destabilizing the region", stressing that the security and stability of the Gulf region and the Middle East are an absolute necessity for achieving global security and stability.

Putin said Russia had more reason than most to be concerned by Pyongyang's missile program, saying that North Korea's nuclear testing range was located just 200 kilometers (124.27 miles) from the Russian border.

The current agreement runs until March 2018.

The Saudi courtship of Russian Federation reflects a convergence of interests between the nations, both of which want to spur a recovery in crude prices.

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Al-Jubeir said that the two sides are keen to upgrade the trade exchanges, intensify the political consultation and security cooperation between the two countries to confront terror and extremism, confirming that the Kingdom and Russian Federation observe the principles of preserving the sovereignty of countries, respecting the global law and non-interfering in the affairs of other countries.

The king has brought a massive delegation of Saudi businessmen with him, and the two parties are expected to negotiate new investment deals, including in the energy sector.

The commentator further pointed out to Russia's willingness to establish contacts with all sides in the Middle East in order to find solutions for regional problems.

Putin said on Wednesday it was possible to extend an OPEC deal to cap oil output "at least until the end of 2018".

Khalid Bin Abdulaziz Al-Falih, Saudi Arabia's energy minister and president of OPEC, speaks as Alexander Novak, Russia's energy minister, left, listens during a news conference following the 172nd Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, May 25, 2017. "We are reliable and dependable suppliers of oil to the oil-consuming markets, not only now, but for the foreseeable future", Barkindo added.

The escalator stopped midway, forcing the king to walk down himself, to be met by Russian officials including deputy prime minister Dmitry Rogozin and a military brass band.

Still, Russia doesn't have the capacity to replace the USA as Saudi Arabia's main ally, Anna Borshchevskaya, a fellow at The Washington Institute for Near East Policy, told the Associated Press.



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