Contents tagged with Saudi Arabia
-
China and Saudi Arabia halt crucial MDI chemical shipments to Russia amid sanctions
In a significant development, China and Saudi Arabia have stopped the supply of irreplaceable chemical products to Russia. Currently, Russia is entirely dependent on imported MDI, especially following the European Union's 14th sanctions package.
According to the Polish newspaper Rzeczpospolita, Chinese giant Wanhua Chemical Group and Saudi firm Sadara Chemical have ceased shipments of isocyanates (MDI) to Russia. This chemical is crucial in sectors like automotive, construction, and household …
-
China reduces imports of Russian oil
For the second year in a row Russia loses to Saudi Arabia the competition for the world's largest oil market.
China, which buys more than 10% of world oil production daily, reduced imports of Russian oil in 2021, TASS reports, citing statistics from the General Administration of Customs of China.
During the year, Russian oil companies sold 79.64 million tons of oil to Chinese customers, which is 4.5% less than a year earlier. The volume of supplies shrank to the levels of 2 years ago: in 2020 …
-
Russia offers Saudi Arabia weapons ‘tested in Syria’
Russian Deputy Defense Minister Alexander Fomin and his Saudi counterpart Prince Khaled bin Salman signed an intergovernmental agreement on military cooperation. The signing ceremony was attended by the head of the Russian Defense Ministry, Sergey Shoygu.
On August 23, Sergey Shoygu held talks at the forum "Army-2021" with Deputy Defense Minister Prince Khalid bin Salman, reports Rossiyskaya Gazeta. Shoygu told Prince Khalid bin Salman that the Russian Defense Ministry is interested in dynamic …
-
Russia capitulates in oil war
The Kremlin's attempt to show its teeth in the global oil market and sacrifice a partnership with Saudi Arabia in order to strike the U.S. shale industry ended in Russia's capitulation.
On Thursday, following a video conference, the ministers of the OPEC countries reached an agreement to stabilize the global oil market, which was on the verge of disaster due to the coronavirus pandemic that brought down global demand.
To stop the collapse of prices falling to the levels of the late 1990s ($10. …
-
Saudi Arabia accuses Putin of lying
Saudi Foreign Minister Faisal bin Farhan al-Saud accused Russian President Vladimir Putin of distorting the facts about the situation around the OPEC agreement on reducing oil production.
Al-Saud said that Putin's words that the initiator of the collapse of the deal was not Russia, but Saudi Arabia, "completely devoid of truth." The day before, at a government meeting, Putin noted that in early March Russia offered to extend the OPEC deal, "but, unfortunately, the situation began to develop in …
-
Russia promises to increase oil production amid collapse in prices
Russian oil workers were ready to sever relations with OPEC and were ready for a drop in oil prices to $32 per barrel and below. Such a situation gives the country "opportunities that need to be properly assessed," a senior oil industry official who took part in preparing Russia's position ahead of talks with OPEC told TASS.
"Yes, they assessed it. It's normal to look at different scenarios," he said, when asked if the Russian side had calculated the drop in oil prices to $32 per barrel and …
-
Saudi Arabia negotiating purchase of S-400 missile systems from Russia
The contract between Russia and Saudi Arabia for the supply of S-400 anti-aircraft missile systems, signed in 2017, has not yet entered into force, said Maria Vorobyeva, a spokeswoman for the Federal Service for Military-Technical Cooperation (FSVTS). She added that the conditions for its implementation are being discussed.
"A contract for the supply of S-400 Triumph missile defense systems was signed with Saudi Arabia in 2017. We are currently discussing mutually acceptable conditions for the …
-
Russia to invest national pension savings in Saudi oil industry
The Russian population’s pension savings will be used to purchase shares in the initial public offering (IPO) of the Saudi Arabian oil company Saudi Aramco, which will finally take place in December, after three years of delays, reports finanz.ru.
On the sidelines of the Future Investment Initiative forum in Riyadh on Tuesday, Russian Direct Investment Fund CEO Kirill Dmitriev mentioned that Russian pension funds are interested in buying Aramco shares.
“There’s definite interest from a number …
-
Putin discusses military technology cooperation with Saudi king
Russian President Vladimir Putin and Salman bin Abdulaziz Al Saud, King of Saudi Arabia, discussed the possibility of cooperating in the area of military technology, and intend to continue dialog, said Kremlin Spokesperson Dmitry Peskov.
When asked about the possibility of selling Russian S-400 aerial defense systems to Saudi Arabia, Peskov said that it is too early to say, but the two countries do have plans to develop their cooperation in military technology.
During the talks, the Russian …
-
Director of Russian Foreign Intelligence Service: Moscow is collecting data on drone attack on Saudi Aramco facilities
The Director of the Russian Foreign Intelligence Service (SVR) Sergey Naryshkin said that SVR is collecting data to identify persons responsible for the attack on oil facilities in Saudi Arabia, reports TASS news agency.
"We are collecting this data [about who organized the attack], but conclusions have not yet been made," said SVR's director.
Naryshkin also pointed out to the premature accusations of Iran's involvement in the attacks on the oil company Saudi Aramco's facilities. "It seems to …