Saudi Arabia sustains extensive exchange ties with Russia, U...| MENAFN.COM

Sunday, 07 August 2022 06:50 GMT

Saudi Arabia sustains extensive exchange ties with Russia, Ukraine


(MENAFN) Saudi Arabia is going to sustain its widespread exchange ties with both Ukraine and Russia, Economy and Planning Minister Faisal Al-Ibrahim stated on Tuesday on the sidelines of the World Financial Forum in Davos.

Stating to Japan’s Nikkei newspaper, the minister declared that Western restrictions imposed on Russia are “unilateral” and are going to remain as such.

Al-Ibrahim also commended Moscow’s part in the OPEC+ plan, which ties key oil exporters.

The minister clarified that Riyadh does not plan to raise oil export in order to lower costs, clarifying that his nation is presently concentrated on supply stability instead of additional capacity, he reasoned that the condition on international energy markets would be “much worse” if not for OPEC’s hard work.

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