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by Aziz El Yaakoubi and Vladimir Soldatkin
RIYADH (Reuters) – Russian President Vladimir Putin met on Wednesday with his United Arab Emirates (UAE) counterpart, Mohammed bin Zayed, and then with Saudi Crown Prince Mohammed bin Salman, with whom he discussed oil prices and conflicts in Gaza and Ukraine.
This mini-tour in the Gulf of Vladimir Putin, who rarely leaves Russia, came after the OPEC+ countries, of which the three countries are part, failed to agree on collectively announcing production cuts additional crude to support oil prices.
The Russian president did not say what he hoped to achieve during his trip to Abu Dhabi and Riyadh, mainly praising his “friendship” with the two Gulf leaders and particularly thanking Mohammed bin Salman, who he said was initially scheduled to go to Moscow before “plans changed.”
“Nothing can prevent the development of our friendly relations,” insisted Vladimir Putin.
A little earlier, Mohammed ben Zayed had welcomed the arrival of his “dear friend” while fighter planes carried out a parade in the colors of the Russian flag.
“Our relations, largely thanks to your position, have reached an unprecedented level,” responded Vladimir Putin, who called the UAE Russia’s main trading partner in the Arab world.
The Russian delegation consisted of senior officials from the oil, economy, foreign affairs, space and nuclear energy sectors.
SUPPORT OIL PRICES
The Kremlin indicated that Vladimir Putin would discuss energy cooperation with Mohammed bin Salman, particularly within the framework of OPEC+, whose members pump more than 40% of the world’s oil.
“Close coordination between Russia and Saudi Arabia in this framework is a reliable guarantee of maintaining a stable and predictable situation in the global oil market,” the Russian presidency said.
The leaders were also expected to discuss Israel’s war against Hamas in the Gaza Strip, the situation in Syria and Yemen, as well as broader issues relating to stability in the Gulf region. Ukraine was also expected to be on the agenda, a Kremlin adviser said.
Relations between Saudi Arabia and Russia within the framework of OPEC+ cooperation have at times been difficult and the countries almost broke an agreement on production cuts in March 2020, when markets were already shaken by the COVID-19 crisis.
At the time, Saudi Arabia cut oil prices for its customers, while Russia said it would not meet production quota obligations.
However, the two countries managed to rebuild their relations and OPEC+ agreed to record cuts of almost 10% in global oil demand, in order to support oil markets.
In October, Vladimir Putin praised Mohammed bin Salman and said that if there were differences over extending OPEC+ cuts, the Kremlin would seek consensus.
(French version Kate Entringer and Tangi Salaün, edited by Blandine Hénault)
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