Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) received a phone call from Russian President Vladimir Putin on Wednesday. The two leaders discussed increasing economic ties as well as balancing oil demand and prices, according to Saudi and Russian state news agencies.
The call comes as US Secretary of State Antony Blinken visits Saudi Arabia, and held a nearly two-hour meeting with MBS on Tuesday. Riyadh has improved its ties with both Russia and China since MBS became crown prince in 2017.
It also follows Saudi Arabia's decision on Sunday to voluntarily slash 1 million barrels per day (bpd) from its oil exports starting in July as a precautionary measure against global pressures on the oil market. The announcement came shortly after the meeting of member states and allies of OPEC, of which Saudi Arabia and Russia are members, to maintain cuts from its April meeting.
The International Monetary Fund (IMF) projected Wednesday that Saudi Arabia’s gross domestic product growth will slow to 2.1% in 2023, lower than its 3.1% forecast in May.
