Russian RDIF, Saudi PIF Play Crucial Role in Improving Bilateral Ties - Saudi Minister

Sputnik, 14.02.2018

RIYADH, February 14 (Sputnik) -TheRussian Direct Investment Fund (RDIF) and Saudi Arabia's Public Investment Fund (PIF) have played an important role in improving relations between the two countries, Saudi Energy Minister Khalid Falih said Wednesday.

"As Saudi Arabia's energy minister, I can say that the RDIF is an important bridge between Russia and Saudi Arabia ... The role that the RDIF plays in Russia and the role of PIF and Saudi Aramco on our side, when introducing companies to each other, arranging investment deals, reducing investments risks through communication, providing a guarantee of correct evaluation of the market, cannot be overrated," Falih said during a press conference with Russian Energy Minister Alexander Novak.

He noted that the Saudi side appreciated the role of the RDIF in improving bilateral ties.

"We really appreciate the role of the RDIF. In particular, the continuing efforts of its head Kirill Dmitriev are very important to strengthen cooperation between Russia and Saudi Arabia," Falih stressed.

Earlier in the day, Falih and Novak signed a memorandum of understanding for cooperation in the energy sector after the second meeting of the Russian-Saudi working group on energy cooperation held in Riyadh. The two sides also signed a joint statement on the use of clean energy and climate.