Saudi Arabia’s King Salman landed in Moscow for a first historic visit, as the monarch is scheduled to meet with President Vladimir Putin. The leaders of the two countries, the world’s biggest oil exporters, are expected to discuss cooperation on oil production and differences over Syria and Iran, during the first visit in History by a reigning Saudi Monarch to Moscow.
A series of investment deals, including on a liquefied natural gas project and petrochemical plants, could also be signed during King Salman’s trip and plans for a 1-billion-dollar fund to invest in energy projects are likely to be finalized. The visit reflects a rapid deepening of ties between Russia and Saudi Arabia, driven by a mutual need to stem a drop in global oil prices, that after Moscow and Riyadh coordinated efforts to secure a deal between OPEC member states and other producers to cut output until the end of March 2018.