Saudi-Russian joint investments of $3bn

An archive photo of King Salman's historic visit to Russia

Russia signs 14 agreements with Saudi Arabia of $3bn making Saudi-Russian joint investment with one of the largest logistics companies.

The CEO of the Russian Fund for Direct Investment, Kirill Dmitriev, confirmed that the fund will sign 14 new agreements with a number of Saudi companies, with deals worth more than $3bn.

“Our agreements worth more than $3bn so far with one company to be specialized in the oil industry and to invest in a partnership with Saudi Aramco to produce important materials for Russian companies, Aramco, and many other companies around the world,” Kirill Dmitriev stated.

The Russian official pointed out to the final arrangements for investments with one of the largest logistical players in Russia and that they seek to invest in a large portfolio of aircraft lease.

Dmitriev spoke of a broad consensus in agriculture, describing the Saudi decision to reduce restrictions on Russian wheat imports as a historic step.

Dmitriev expressed his belief that there are great opportunities in the agricultural field between Russia and Saudi Arabia, stressing that the agreement with one of the largest Saudi players in the agricultural field will confirm this agricultural relationship.