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  • Moscow and Riyadh are not interested in high oil prices, the Kremlin’s spokesman told the press ahead of Russian President Vladimir Putin’s visit to the kingdom in October.

    Together with Saudi Arabia, we are interested in ensuring that the price [of oil] does not rise above a reasonable level,” Dmitry Peskov said in an interview with Rossiya 24 on Tuesday, during the ongoing Russian Energy Week forum in Moscow.

    Moscow and Riyadh are not interested in high oil prices, the Kremlin’s spokesman told the press ahead of Russian President Vladimir Putin’s visit to the kingdom in October.

    Together with Saudi Arabia, we are interested in ensuring that the price [of oil] does not rise above a reasonable level,” Dmitry Peskov said in an interview with Rossiya 24 on Tuesday, during the ongoing Russian Energy Week forum in Moscow.

    Saudi Arabia recently announced it was removing bans on Russian agricultural products, wheat specifically, and we will be signing a big agreement with the Saudi Agricultural Investment and Livestock Company (Salic) during the visit,” he stated, adding that the $2.7 billion investments recently made with Saudi partners are “already producing good returns.”

    “Now we expect to begin investing in Saudi projects, in tourism, petrochemicals and other areas,” Dmitriev said.

    The Russia Saudi Investment Fund, which was set up in 2017, has a total committed capital of $6 billion. It has invested in a range of infrastructure and energy projects, both in Russia and in Saudi Arabia.

     

    General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. File photo © Reuters / Ahmed Jadalla

     

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    : 08.10.2019