MOSCOW Ñ Russia and Saudi Arabia have signed their first energy
The accord was signed on Tuesday during the visit by Saudi Crown Prince
Abdullah Bin Abdul Aziz. Abdullah met Russian President Vladimir Putin in
the first visit to Moscow by a Saudi leader, Middle East Newsline reported.
A Russian Cabinet statement said the agreement between Saudi Arabia and
Russia -- the world's first and second largest oil exporters,
respectively -- called for cooperation in the oil and natural gas industry.
This would include joint ventures in exploration and research as well as
cooperation to maintain stability in the global oil market.
Russian officials said Putin urged Abdullah to encourage Saudi
investment in Russian industries. They said Russia seeks Saudi investment in
the energy and defense sectors.