Russian Deputy Prime Minister for Fuel Energy complex Alexander Novak announced on Wednesday that his country decided to raise its petroleum supply to Saudi Arabia.
Speaking to the press after his meeting with Saudi Energy Minister Prince Abdulaziz bin Salman in Moscow, Novak said the government sees "a high potential" in such a move. He also noted that the trade between the two nations grew by 20% in the past seven months. "We are targeting an increase in value to $7 billion by 2030," the minister stressed.
Novak and Prince Abdulaziz bin Salman met during the Russian Energy Week, which started today in Moscow and will last until October 13.
