Saudi King's golden escalator breaks down during historic visit to Russia

09 October, 2017, 00:31 | Author: Brian Mcdaniel

That marked a shift for the kingdom, which buys most of its military supplies from the United States and Britain.

Putin and Salman also discussed the conflict in Syria, where they support opposing sides.

It was a historic moment when the king of Saudi Arabia, Salman bin Abdulaziz arrived in Russian Federation with an entourage of 1500 people and a golden escalator that travels with him.

The Saudi king invited Putin to visit his country - an offer the Russian leader accepted - and said they planned to keep cooperating to keep world oil prices stable.

Al-Falih was optimistic that oil markets were continuing to rebalance, but added prices were not for him or his counterpart, the Russian Energy Minister Alexander Novak, to determine.

Oil prices rose about 2 percent on Thursday as signs Saudi Arabia and Russian Federation would limit production through next year pushed the USbenchmark back above $50 a barrel. The agreements reached between the two countries are spread into cooperation in the military and technical spheres, energy and investment. The previous time he was in Moscow in 2006 as the governor of the Riyadh Region.

Anna Borshchevskaya, a fellow at The Washington Institute for Near East Policy, says Russian Federation has no capacity to replace the United States as Saudi Arabia's key ally.

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King Selman's meetings in Moscow include energy market, Middle East, civil war in Syria and Iran. Our relations have an extremely large history, "he said".

The Saudi government completely booked the Ritz Carlton and the Four Seasons for the historic visit - which forced the Four Seasons to ask some guests to cancel their rooms.

Saudi Arabia is now investing over $1 billion in over 20 Russian projects including the construction of a petrochemical complex and Pulkovo Airport in St Petersburg, Russian Energy Minister and co-chairman of the Russian-Saudi Intergovernmental Commission Alexander Novak said. In 2015 the countries' sovereign wealth funds agreed to $10 billion in investments. USA light crude was up 10 cents at $50.08.

The approval opens the way for Saudi Arabia to purchase 44 Terminal High Altitude Area Defense (THAAD) launchers and 360 missiles, as well as fire control stations and radars.

King Salman has become the first sitting Saudi monarch to visit Russian Federation.

On Wednesday, Putin met OPEC officials and said a deal between OPEC and rival oil producers to reduce production could be extended to the end of 2018, a longer timeframe than others have suggested.

Asked about ties with Riyadh during a panel discussion at an worldwide energy conference Wednesday, Putin responded that Moscow doesn't see close US-Saudi relations as an obstacle for closer cooperation with the Saudis, and added that alliances tend to shift. Relations improved under the Trump administration, but Washington's focus in Syria continues to be on fighting the Islamic State group, not on ousting Assad.

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