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and Saudi Arabia announce large investment agreements and joint ventures to further cement relations.Slide2Slide3
Russia Saudi Arabia relations
RussiaâSaudi Arabia relations
Â is the bilateral relationship betweenÂ RussiaÂ and theÂ Kingdom of Saudi Arabia. The two countries are referred to as the twoÂ petroleum superpowers, which together account for about half of the world'sÂ crude oilÂ productionÂ and fiercely compete for market shares.Slide4
Oil :Russia and Saudi Arabia meeting in Moscow
climbed higher onÂ ThursdayÂ as King
of Saudi Arabia made the first ever visit by a Saudi monarch to Russia.
told Russian President Vladimir Putin in Moscow that the two countries willÂ continue to work on stabilizing oil marketsÂ .
The Saudi visit to Russia marks a remarkable turnaround in the relationship between the two countries that had been staunch Cold War adversaries,"
Croft, head of commodity strategy at RBC Capital Markets, wrote in a note to clients.Slide5
Russia and Saudi Arabia: A new world for oil markets?
Croft of RBC Capital Markets discusses the impact of the new relationship between top global oil producers Saudi Arabia and Russia.Slide6
Saudi king, Putin agree deals on historic Russia trip
Â has signed preliminary agreements to buy S-400 air
, officials said, on the sidelines of King
"landmark" visit to Moscow.
The agreement was announced on Thursday as Russian PresidentÂ
Â hosted King
- the first sitting Saudi monarch to visit Russia - for talks at the Kremlin.ÂSlide7
The Boeing 747 carrying Saudi KingÂ SalmanÂ binÂ AbdulazizÂ AlÂ SaudÂ arrives in Moscow's Vnukovo II airport (EPA)Slide8
Saudi Arabia and Russia have very little in common. Except for oil.
It was the first ever state visit by a Saudi monarch to Russia, and both sides were looking to broaden the relationship.
But oil was front and center. Russia and Saudi Arabia have often competed for energy market dominance. They areÂ engaged in an intense battleÂ over who will be the top supplier to China, a major energy importer with an insatiable appetite for crude.
Together they produce about a quarter of the world's oil and last yearÂ clinched a dealÂ designed to eliminate a global supply glut, in part triggered by the rapid rise in American production.Slide9
Russia vs Saudi Arabia:Oil giants compete for Chinaâs businessSlide10
Russia threatens to bomb Saudi Arabia
Long-time U.S. allyÂ
Â is pushing to diversify the country's arms ... this year, partly reflecting the war in Yemen and the rising militaryÂ
Â from Iran. ... including armor-piercing warheads and laser-guidedÂ
Russia attack Saudi
The alleged Saudi role in September 11Â
Â gained new attention after two former U.S. ... the Congressional Inquiryâ²s report refer to evidence ofÂ
â²s substantial involvement in the execution of theÂ
Saudi Russia arms deal
A faulty golden aircraft escalator and anger from Moscowâs elite about a 200-strong
Â retinue taking over all the cityâs 5-star hotels failed to dampen the fanfare accompanying King
Al Saud on his first state visit toÂ