Riyadh (AFP) – Russian President Vladimir Putin signed a key deal Monday with Saudi Arabia during a key visit for an OPEC+ grouping aimed at stabilising global oil prices and seeking to calm regional tensions with Iran. Putin’s visit follows attacks on Saudi oil installations that Saudi Arabia and the United States have blamed on Iran, an ally of Moscow. Following talks between Putin and Saudi King Salman, the two countries signed some 20 agreements and contracts worth billions of dollars on aerospace, culture, health, advanced technology and agriculture. 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 that wreaked havoc on the economies of Russia and cartel heavyweight Saudi Arabia. Monday’s deal seeks to “reinforce cooperation … and strengthen oil market stability”, Saudi Energy Minister Prince Abdulaziz bin Salman said at the signing ceremony. Kremlin spokesman Dmitri Peskov told reporters that Putin and Saudi officials also discussed “military and technical cooperation”. In October… Read full this story
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