Putin says extending Opec deal 'possible'

Saudi king to make historic visit to Russia

We intend to develop bilateral relations for development of global economy with peace and security.

During the Cold War, the Saudis helped arm Afghan rebels fighting against the Soviet occupation.

Putin also insisted that Iran is complying with a nuclear agreement the U.S., Russian Federation and other world powers agreed to in 2015 - Trump may decertify the Iran deal - and warned that Trump's fiery rhetoric toward North Korea is leading to a "very unsafe end".

Russian authorities, the academic said, are trying to show "a new opening" in dealing with the Middle East developments.

"This would demand that Iran give up interference with the internal affairs of the region, to give up actions destabilising the situation in this region".

"The two have been coordinating their efforts to cap oil outputs and therefore boost the price of energy, but of course there is the changing political structure of the Middle East too", he said.

Saudi Foreign Minister Adel al Jubeir also said that the two countries are working to unite Syrian opposition and that they have agreed on the need to preserve Syria's territorial integrity and state institutions.

Russia's Rosoboronexport and the Saudi military consortium signed a memorandum on the manufacturing rights of Russian military equipment in Saudi Arabia.

Under the agreements, Saudi Arabia is set to buy S-400 air defence systems, Kornet anti-tank guided missile systems and multiple rocket launchers.

Trade volume between the two countries reached $2.8 billion a year ago, according to official Saudi press.

The report came during a visit by Saudi King Salman to Moscow.

The Saudi courtship of Russian Federation reflects a convergence of interests between the nations, both of which want to spur a recovery in crude prices.

The OPEC deal was aimed at reducing a global oil glut that had seen crude prices plummet from over 100 dollars a barrel in 2014 to a 13-year low of under 30 dollars last year. That agreement, to March 2018, could be extended, President Putin told reporters yesterday. "We are reliable and dependable suppliers of oil to the oil-consuming markets, not only now, but for the foreseeable future", Barkindo added.

The leaders held one-on-one talks, followed by broader discussions. Salman said he last visited Russian Federation in 2006, before becoming king.

For his part, Putin highlighted the importance of the King's visit to Russian Federation and the talks made between the two sides, describing them as rich and trustworthy.

Salman, who landed at Moscow's Vnukovo airport around 1600GMT is expected to focus his three-day trip on energy and the Syrian conflict, reports suggest.

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