Russian, Saudi Arabian firms discuss joint projects, $10 bln investment: RDIF

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), speaks to Al Arabiya in Davos. (File photo)

Russia’s RDIF sovereign wealth fund said on Wednesday that Russian and Saudi companies have held discussions on possible joint projects as well as potential investment worth more than $10 billion.

The discussions took place in Saudi Arabia as Russia and the Organization of the Petroleum Exporting Countries discussed further cooperation on the global oil market.

Saudi Arabia, a leading voice in OPEC, has been trying to persuade Russia to join deeper oil production cuts. Moscow has said it will disclose its stance on that proposal in the coming days.

Saudi business representatives will visit Moscow in the spring and continue their talks with Russian companies, RDIF said.

Last Update: Wednesday, 20 May 2020 KSA 10:01 - GMT 07:01