Russia and Saudi Arabia have significantly strengthened their economic ties, with bilateral trade between the two countries nearly quadrupling in the first quarter of 2025. This was announced by Russian Deputy Prime Minister Alexander Novak following a meeting with Saudi Energy Minister Prince Abdulaziz bin Salman. The statement was published on the official website of the Russian government.
“Trade turnover between our two countries has grown nearly fourfold in the first quarter of this year,” Novak said.
He also noted that bilateral trade increased by more than 62% in 2024. Over the past decade, the two countries have jointly implemented more than 40 investment projects across various sectors, including information technology, transportation, infrastructure, and petrochemicals.
Novak highlighted the strong potential for joint climate-related projects, particularly those involving low-emission technologies. He also pointed to the opportunity for mutual recognition of carbon credits within such initiatives.
GSV "Russia - Islamic World"
Photo: Russian Foreign Ministry
Based on TASS materials