Published on: 2026-07-24
Source: Government of the Russian Federation –
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Deputy Prime Minister Alexander Novak took part in a gala evening organized by the Embassy of the Kingdom of Saudi Arabia in Russia, dedicated to the 100th anniversary of the establishment of diplomatic relations between the two countries.
“A multi-level political dialogue has been established between Moscow and Riyadh, which allows for discussing the most pressing issues of today in a constructive manner and finding mutually acceptable solutions. Russia and Saudi Arabia are united by a commitment to a just, multipolar world order that respects the interests of every nation and its right to choose its own path independently. Bilateral cooperation has gained the greatest momentum at the latest stage of history. To a large extent, this approach has become possible thanks to the trusting contacts between the leadership of our countries,” emphasized the Deputy Prime Minister.
Alexander Novak noted that one of the key directions of bilateral partnership remains close joint work on the global energy agenda within the framework of “OPEC Plus,” which helps maintain the stability of the global oil market in the interests of both producers and energy consumers.
Practical cooperation is developing dynamically: over the past 5 years, the volume of bilateral trade has more than doubled, and Russia has entered the top five food suppliers to the Kingdom.
During his speech, the Deputy Prime Minister emphasized that Saudi investments in the Russian economy grew by 90% just last year. The investment partnership between the Russian Direct Investment Fund (RDIF) and the sovereign wealth fund PIF is operating successfully. An intergovernmental agreement on the abolition of visa requirements for holders of all types of passports has come into force. Russia has become the first country outside the Gulf Cooperation Council to have such an agreement with the Kingdom.
In addition, joint projects are being developed in the fields of hydrogen energy, peaceful nuclear power, digital technologies for the oil and gas sector, and localization of Russian productions on Saudi soil. Russia is ready to share its experience in organizing large international events.
As part of the ceremonial event, Alexander Novak viewed a photo exhibition dedicated to the history of Russian-Saudi relations.
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