"Putin Discusses 'Production Cut Agreement Implementation' with Saudi Crown Prince"

Russian President Vladimir Putin [Photo by AP]

[Asia Economy Reporter Seulgina Cho]On the 15th (local time), Russian President Vladimir Putin and Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman held a phone call to discuss COVID-19 response and the implementation of production cut agreements.

According to Arab News, the call was made to commemorate the 95th anniversary of diplomatic relations and to promote the development of bilateral ties. President Putin and Crown Prince Mohammed exchanged views on the implementation of the production cut agreements of the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ coalition of major non-OPEC oil-producing countries. They also agreed to expand cooperation in trade, economy, and investment.

Additionally, both sides discussed the possibility of Saudi Arabia using Russian-made vaccines as part of the COVID-19 response. They also exchanged opinions on regional issues such as the Syria crisis and the Arabian Gulf. Local media reported that "Saudi Arabia and Russia have agreed to continue cooperating for the stability of the oil market and global economic growth."

The Kremlin issued a statement saying, "We will continue close coordination to maintain stability in the international energy market."

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