Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Russian President Vladimir Putin oversaw on Monday the signing of numerous deals during a meeting of the Saudi-Russian Energy Partnership Event in Riyadh.
Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, was also present at the meeting.
Minister of Energy Prince Abdulaziz bin Salman declared that the Kingdom and Russia have started a new phase of cooperation and integration in many domains, aimed at achieving prosperity and progress for both countries.
The deals cover the petroleum industry and other energy sectors, scientific research, space, justice, health services, tax administration, mineral wealth, tourism, aviation industry, cultural cooperation, trade relations and other sectors. They also cover sovereign investment funds, state-owned enterprises and the private sector.
Key among the deals was the agreement to bolster cooperation among the so-called OPEC+ countries -- the Organization of the Petroleum Exporting Countries plus 10 non-members of the cartel.
Moscow is not a member of OPEC, but it has worked closely with the group to limit supply and push up prices after a 2014 slump.
Monday's deal seeks to "reinforce cooperation ... and strengthen oil market stability", said Prince Abdulaziz.
King Salman told Putin: "We look forward to working with Your Excellency on everything that will bring security, stability and peace, confront extremism and terrorism and promote economic growth".
Putin said: "Russia attaches particular importance to the development of friendly, and mutually beneficial ties with Saudi Arabia.”
