Al Arabiya: Russia’s sovereign wealth fund says it will continue to invest in Saudi Arabia

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The head of the Russian sovereign wealth fund Kirill Dimitriev in Russia in a photo from Reuters archive.

DUBAI (Reuters) – The head of the Russian sovereign wealth fund said on Monday that the fund will continue to invest in the framework of the Saudi Development Vision 2020 program.

Kirill Dimitriev, who is also a top Moscow oil negotiator, said a global agreement to cut oil production had prevented crude prices from going down to $ 10 a barrel.

Dmitriyev was quoted as saying that the oil talks, which concluded on Sunday, demonstrated Russia’s ability to work with the United States, which supports the agreement to reduce global oil supplies.

Al-Arabiya quoted him as saying that the fund is planning joint agricultural projects with Saudi Arabia, and is also working to establish a vaccine factory in the Kingdom, describing relations with Riyadh as “very, very positive”.

Press coverage by Maher Shmaitli – Prepared by Mahmoud Salama for the Arab Bulletin – Edited by Doaa Mohamed

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