Moscow Welcomes Saudi King, Describes Visit As 'Most Important Event'

Saudi king to make historic visit to Russia

King Salman's current visit to Russia is a decisive development in the course of Saudi-Russian relations.

Saudi Arabia says it has signed a memorandum of understanding on the purchase of S-400 air defence systems from Russia's state arms exporter during Saudi King Salman's landmark trip to Moscow on Thursday. "There are many regional problems there", he stated.

Russian Federation and Saudi Arabia have clinched a number of lucrative deals as King Salman paid the first official visit to Russian Federation by a Saudi monarch.

King Salman may also seek assurances from Moscow that Iran will not have a permanent role in Syria.

Relations between the two countries in the past have often been strained.

"I am confident that the visit will give a fresh impetus to the development of bilateral relations between the two countries", Putin said.

Maduro on Wednesday thanked Russian President Vladimir Putin for his support in hard times. An oversupplied market past year, brought on by US oil production and OPEC members working to defend market shares with more output, helped pushed the price of oil below $30 per barrel.

Saudi Arabia has held talks with a dozen Russian energy companies and has formalised certain projects and plans for cooperation, Russia's minister of Energy Alexander Novak said in an interview with TASS.

Saudi Arabia's King Salman attends talks with Russian President Vladimir Putin, during their meeting at the Kremlin in Moscow, Russia, on Thursday, Oct. 5, 2017.

"Relations between Russian Federation and Saudi Arabia have reached a historical moment", said Jubeir, speaking through an interpreter.

King Salman is expected to ask Russia's support and commitment to ensure that the production cuts deal continues, following Saudi Arabia's cut of its output to around 10 million barrels per day to help control a glut in world oil supplies.

Moscow attempts to "harmonize and approximate the differences among many factors and players;" so, "more and more Russian Federation is being trusted more than America", he noted.

Saudi Arabia's Public Investment Fund (PIF) in cooperation with the Russian Direct Investment Fund (RDIF) is considering joint work on 25 investment projects in various areas, according to Russian Energy Minister Aleksandr Novak.

The PIF and RDIF also agreed to establish another 1-billion-dollar high technology investment fund, it said.

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