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Russian companies in talks with Saudis for $10bn investments

Russian companies in talks with Saudis for $10bn investments
Saudi business representatives will visit Russia in the Spring

Mubasher: The Russian Direct Investment Fund (RDIF) on Wednesday announced that a group of Russian and Saudi companies are negotiating cooperation in joint projects and potential investment worth over $10 billion.

Saudi business representatives are set to visit the Russian capital in the Spring to continue discussions with Russian companies, according to Reuters.

Saudi Arabia seeks to expand cooperation with Russian on the global oil market.

The kingdom is trying to persuade Moscow to agree on deeper oil output cut to help regulate the market.