Saudi-Russia alliance a ‘must’ in trade war world, says Russia’s Sibur chairman

Saudi Arabia's Crown Prince Mohammed bin Salman shakes hands with Russian President Vladimir Putin at the G20 Summit in June 2019. (File photo: AP)

The chairman of Russia’s largest petrochemicals company said on Wednesday that the alliance between Saudi Arabia and Russia is a “must in the turbulent, geopolitically complicated world.”

“Global alliances are important, we are concerned with global trading wars, it affects demand,” said Dimitry Konov, Chairman of Sibur, at the Russia Energy Week conference in Moscow.

An escalating trade war between Beijing and Washington has cast a shadow on the demand for billions of dollars’ worth of goods around the world.

Konov also sees more Russian National companies cooperating with Saudi Arabia going forward.

Sibur is a supplier of petrochemical products to chemical, automotive and construction industries, among others. The company’s revenue stood at $9.1 billion in 2018.

Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54