Fresh from the success of its investment summit in the US this month, Saudi Arabia is focusing on another key geopolitical ally: Russia. The Saudi-Russia Business Forum, hosted by Saudi Arabia’s energy and investment ministries, will take place in Riyadh on Dec. 1, according to an invitation seen by Semafor. Details of speakers are still unconfirmed, but it’s expected to focus on technology, food security, construction, and mining, according to a draft agenda.
Saudi Arabia has maintained close ties with Russia even as Europe and the US have sanctioned Russian individuals, businesses, and officials in response to its invasion of Ukraine.
Saudi Arabia will be the “guest country” at next year’s St. Petersburg International Economic Forum and the two countries also collaborate on managing global oil markets through OPEC+.