Saudi Arabia, Russia stress need for OPEC+ to commit to deal

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RIYADH: Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin stressed in their meeting in Riyadh the need for OPEC+ members to commit to the group’s agreement, Saudi Press Agency said on Thursday, citing a joint statement.
They welcomed the close cooperation between their nations and the successful efforts of OPEC+, of which both are members, to provide stability in global oil markets.
They said it is important that this cooperation continues and stressed the need for all member states to adhere to OPEC+ agreements in a way that serves the interests of producers and consumers and supports the growth of the global economy.
OPEC+ is a group that constitutes the Organization of the Petroleum Exporting Countries and Russia and other allies.
Regarding Sudan, the two leaders stressed the importance of building on the Jeddah Declaration, which was signed on May 11 with the aim of protecting civilians during the conflict in the North African country.
On Iran, Putin welcomed the resumption of diplomatic relations between Riyadh and Tehran and expressed hope that this would lead to enhanced stability and security in the region.
Both sides also stressed their full support for regional and international efforts to reach a comprehensive political solution to the crisis in Yemen.
The two leaders said they were keen to enhance mutual and joint investments in their countries.
They welcomed a 46 percent increase in the volume of bilateral trade in 2022, compared with 2021, and affirmed their intentions to continue to work together to enhance and diversify trade relations.
Turning to the crisis in Ukraine, the Russian side praised the humanitarian and political efforts undertaken by Saudi Arabia.