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Published: 12 February 2023
Russia and Saudi Arabia are working effectively and cooperating at all strategic levels, especially in the conventional energy sector and within the framework of OPEC+
Written by|Tony Wild
world section CJ journalist
Moscow- 12- Feb.- 2023
Sputnik
Russian ambassador to the kingdom of Saudi Arabia in a new declaration stressed the strength of the relationship between the 2 countries at different strategic levels, obtaining that
Russia is a leader in the nuclear industry globally, outstripping its foreign counterparts in technology.
Bilateral trade and economic ties between the countries are characterized by positive dynamics, but in January-November 2022, Russian-Saudi trade has slightly decreased, Kozlov said.
There are prerequisites for the growth of bilateral trade between Russia and Saudi Arabia in 2023, with the parties seeking to reach an indicator of $5 billion "in the foreseeable future," Russian Envoy pointed out.
Bilateral trade and economic ties between the countries are characterized by positive dynamics, but in January-November 2022, Russian-Saudi trade has slightly decreased, Kozlov said.
"But the volume of $1.6 billion is quite significant. In our opinion, there are good prerequisites for further growth in 2023. Moreover, both the Russian and Saudi sides intend to reach the indicator of $5 billion in the foreseeable future, outlined by the top leadership of Russia and Saudi Arabia," the ambassador said.
returning to the conventional energy sector and within the framework of OPEC+, the Russian ambassador added;
"We hope that these obvious competitive advantages of the bid of the Rosatom state corporation will be properly appreciated by Saudi partners when choosing a [tender] winner," the ambassador said, adding that preparations for the tender have reached the final stage.
Russia and Saudi Arabia are also effectively cooperating in the conventional energy sector and within the framework of OPEC+, the ambassador stressed.
"The expediency and effectiveness of such cooperation in the global dimension have been confirmed in practice. This is evident from various crisis situations, including the most difficult period of the coronavirus pandemic," Kozlov said.
He added that the coordinated actions of the largest oil producers have made it possible to stabilize energy markets to a large extent.
"In the current situation, this work continues to be in demand," the Russian envoy told Sputnik, adding that Riyadh believes that the introduction of various kinds of illegitimate restrictions, such as sanctions and price ceilings, only fuels uncertainty and unpredictability in the global energy sector.
Military&Security Cooperation
Russia and Saudi Arabia have stepped up efforts to expand military-technical cooperation amid Riyadh’s focus on diversifying defense capabilities, Kozlov stressed.
"Relevant work in this area has recently intensified significantly. In particular, this is evidenced by regular bilateral contacts, including such a working format as the joint Russian-Saudi intergovernmental commission on military-technical cooperation," Kozlov said.
The ambassador explained that Saudi Arabia is looking for other potential military cooperation partners amid tensions with Washington and US threats to reassess the parameters of relations with Saudi Arabia, including with respect to the military.
Bilateral Trade, Economic Ties
There are prerequisites for the growth of bilateral trade between Russia and Saudi Arabia in 2023, with the parties seeking to reach an indicator of $5 billion "in the foreseeable future," Russian Envoy pointed out.
Bilateral trade and economic ties between the countries are characterized by positive dynamics, but in January-November 2022, Russian-Saudi trade has slightly decreased, Kozlov said.
"But the volume of $1.6 billion is quite significant. In our opinion, there are good prerequisites for further growth in 2023. Moreover, both the Russian and Saudi sides intend to reach the indicator of $5 billion in the foreseeable future, outlined by the top leadership of Russia and Saudi Arabia," the ambassador said.
He noted that Moscow considers Riyadh a promising trade and economic partner, whose role in global and regional affairs is steadily increasing.
Earlier in the day, Kozlov said that the export of Russian agricultural products to Saudi Arabia in 2022 witnessed an unprecedented growth of almost 50%, approaching $1 billion.
