Putin Hosts Saudi King to Talk About Oil, Syria

Putin says 2018 World Cup venues on track despite delays

He described the visit of the Custodian of the Two Holy Mosques - the first visit of a Saudi king to Russian Federation - as a historic event, stressing that it would contribute to the development of relations between the two countries in various fields.

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

During the visit King Salaman said he was looking forward to building a strong relationship with Russian Federation "in the interests of peace, security and development of the world economy".

Dmitry Peskov, the spokesman of Russian President Vladimir Putin has revealed that Kremlin has sent a note to Washington warning against restricting the operations of Russian news outlets in America.

"Today we alone as the Russian Direct Investment Fund announced deals worth $2.1 billion", said Kirill Dmitriyev, the head of the fund set up to attract investment.

Russian Energy Minister Alexander Novak said in an interview broadcast on October 2 that the planned $1-billion fund to invest in energy projects was part of efforts to strengthen cooperation in oil, gas, electricity, renewable energy and other projects. It has entered into a deal with Ukraine to manufacture its AN-130 in Saudi Arabia and expects similar deals with other countries.

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

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The president stressed that Russian Federation is perfectly aware of the concerns of regional countries, including Iran, Turkey and Saudi Arabia.

As many as 100 Saudi businessmen are accompanying King Salman on his trip to Moscow. "But you shouldn't think it's forever".

"The two have been coordinating their efforts to cap oil outputs and therefore boost the price of energy, but of course there is the changing political structure of the Middle East too", he said.

"We strive to continue positive cooperation between our countries to achieve stability in the world oil markets, which contributes to the growth of the world economy", he said.

The move by OPEC and non-OPEC producers to balance the market is working, but the work is not yet finished, Saudi Arabia's oil minister said from Moscow.

While they agree with each other when it comes to oil, Moscow and Riyadh are on opposite sides of the war in Syria - with Russian Federation supporting Syrian regime of Bashar al Assad and Saudi Arabia backing the opposition.

Lavrov said the Saudi monarch and Putin's meeting saw a "particular focus on Syria, Iraq, Libya and Yemen".

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