Alexander Novak met with Minister of Energy of the Kingdom of Saudi Arabia Abdulaziz bin Salman Al Saud
Deputy Prime Minister Alexander Novak met with Minister of Energy of the Kingdom of Saudi Arabia Abdulaziz bin Salman Al Saud, on the sidelines of the St Petersburg International Economic Forum.
“Saudi Arabia is an important OPEC + participant playing a key role in ensuring global energy security,” Alexander Novak said. “Collective actions within the framework of OPEC + meet long-term national interests and help strengthen the economies of our countries. Russia acts consistently and traditionally aims to maintain global energy security in the interests of the states’ peaceful development and their constructive cooperation on the basis of mutual respect and international law.” He also noted the impressive potential of climate projects using low-emission technologies and the mutual recognition of carbon units in such projects.
He also noted that bilateral trade had increased by over 62 percent in 2024. In the past 10 years, we implemented over 40 joint Russian-Saudi investment projects in the field of information technology, transport, infrastructure, petrochemistry and other sectors. “In the first quarter of 2025, bilateral trade soared almost four-fold,” Alexander Novak added.
In the past five years, tourist traffic between Russia and Saudi Arabia soared almost five-fold. Last year, the number of Saudi Arabian citizens visiting Russia increased six times, and 58 percent more Russians visited Saudi Arabia. Alexander Novak urged the Saudi business community to invest in tourism projects on Russian territory, including the Far East, Kamchatka and Lake Baikal. He also invited Minister of Energy of the Kingdom of Saudi Arabia Abdulaziz bin Salman Al Saud and a delegation from Riyadh to take part in the Russian Energy Week annual international forum, scheduled to be held in Moscow on 15–17 October.