Saudi Arabian and Russian Relationship at Pinnacle with the New Cooperation Council

    View Authors July 2019

    On the sideline of the G20 summit held on 28-29 June 2019 in the city of Osaka, Japan, the Crown Prince of Saudi Arabia, Mohammed bin Salman held a series of talks with Russian President Vladimir Putin. The two countries discussed bilateral relations, most notably in trade and investment. One of the outcomes of the talks was the announcement that both governments are planning to create a business council that will facilitate cooperation between big enterprises of the two countries. According to Russian Direct Investment Fund (RDIF) (the Russian sovereign wealth fund) CEO Kirill Dmitriev, “The two governments have planned to create an economic council between Russia and Saudi Arabia, which will unite the most influential businessmen from the Russian and the Saudi side to implement major joint projects.”