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Trade Between Russia, Saudi Arabia Increased by 20% in 7 Months – Novak

 / Go to the mediabankRussian Energy Minister Alexander Novak speaks during the meeting of the Federation Council of Russia, 11 March 2020 / Go to the mediabankInternationalIndiaAfricaMOSCOW (Sputnik) – Trade between Russia and Saudi Arabia has increased by 20% in the seven months, Russian Deputy Prime Minister Alexander Novak said on Wednesday. “Following the results of seven months, trade between our countries increased by 20%,” Novak said at a meeting of the Russian-Saudi intergovernmental commission as part of the Russian Energy Week, adding that the countries aim at reaching $7 billion trade by 2030. Additionally, Russia is ready to increase supplies of petroleum products to Saudi Arabia, the official said. Russia and Saudi Arabia will also discuss the situation on the global oil market, including the changes caused by the recent escalation of the Israeli-Palestinian conflict, Novak added. “Of course, we are discussing these matters. Any events in the world may influence the situation with energy consumption one way or another,” the deputy prime minister said when asked if the agenda for the bilateral negotiations changed due to the conflict. MilitaryRussian Deputy Defense Minister, Saudi Counterpart Discuss Military Cooperation – Moscow15 August, 20:11 GMTGlobal oil markets are sensitive to current events, and the importance of Moscow’s coordination with Riyadh and other partners cannot be overestimated, Kremlin spokesman Dmitry Peskov said on Wednesday.”Of course, world oil markets react very sensitively to events such as those currently unfolding around the Palestinian-Israeli conflict. Of course, in this case, our coordination with both the Saudis and our other partners, which is carried out on an ongoing basis, its importance … difficult to overestimate,” Peskov told reporters.The visit of Saudi Energy Minister Prince Abdulaziz bin Salman to Russia will be a good opportunity to coordinate positions, the official added.The Russian Energy Week is held in Moscow from October 11-13, bringing together high-ranking officials and representatives of leading energy companies from over 60 countries.

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