The agreement was announced on Thursday as Russian President Vladimir Putin hosted King Salman - the first sitting Saudi monarch to visit Russia - for talks at the Kremlin.
On his journey into central Moscow from Vnukovo airport late on Wednesday, King Salman's limousine passed billboards bearing his photograph and messages in Russian and Arabic welcoming him.
The King, who arrives in Moscow on October 5, will have several investment deals on his plate, including on a liquefied natural gas project and petrochemical plants, and could also sign plans for a $1-billion fund to invest in energy projects.
During his four-day trip, the king and Putin are expected to discuss the global oil market and the situation in the Middle East. Needless to say that as soon as this partnership is activated economically, commercially, and militarily Moscow will have to balance its complicated relationship with Iran.
The first thing that comes to mind when discussing the relations between the two countries is the Syrian issue.
Saudi Arabia signed preliminary agreements to buy Russia's S-400 air defence systems and anti-tank guided missile systems and receive "cutting edge technologies", said the Sunni state's military firm, Saudi Arabian Military Industries.
Putin said the agreement to cut oil production a year ago between OPEC and non-OPEC countries could be extended beyond March 2018 but an announcement was unlikely before the next OPEC meeting in Vienna at the end of November.
A new angle on your favorite moments with Google Clips
The best aspect about the camera is that it does all of this itself and the technology behind it is housed in a tiny body. Google Clips is small and lightweight and has a clip to allow you to attach it to something or to help hold it steady.
US rocker Tom Petty reported dead at age 66
Hollywood and Music world expressed shock and grief over the news, paying tribute to the rock legend on social media. The musician had suffered a cardiac arrest, late night, on Sunday and he breathed his last on Monday.
She also expressed her gratitude to the Saudi foreign minister for his cooperation with Moscow, especially with his Russian counterpart Sergei Lavrov.
During an energy forum in Moscow attended by several OPEC oil ministers, Russian President Vladimir Putin said on Wednesday: "Everyone is interested in a stable market". This leaves Moscow aligned with Saudi Arabia's arch-rival Iran, whose influence Riyadh fears is growing in the region.
Moscow attempts to "harmonize and approximate the differences among many factors and players;" so, "more and more Russian Federation is being trusted more than America", he noted.
King Salman called Russian Federation a "friendly nation" and said his four-day visit would boost growing ties between the world's two largest oil exporters. In 2015 the countries' sovereign wealth funds agreed to $10 billion in investments.
Saudi-U.S. ties were strained under the Obama administration over its backing of a nuclear agreement with Iran and its handling of the Syrian conflict.
But Russian military success on the ground in Syria has resulted in Saudi Arabia pressuring opposition groups to hold peace talks with Damascus.
A press conference is scheduled for later today by investigators to explain the new developments in "Operation Unfair Play". Authorities alleged Carlos Arthur Nuzman was involved in a vote-buying scheme to award the Brazilian city as host.
Uber has multiple avenues to appeal last month's decision by the City of London to revoke its licence to operate in the city. Also Tuesday, Uber also named Xerox chairwoman Ursula Burns and bank executive John Thain to its board.
Some picture captions say Shastri's decision changed the course of history.Another caption says: "60 saal main Congress ka yogdan. Modi should say if he was unable to address the problems like unemployment.
Mr Veale said on Thursday: "The report does not draw any conclusions as to the likely guilt or innocence of Sir Edward Heath ". The report goes on to emphasise that "no inference of guilt should be drawn by the decision to interview under caution".
They stink and they're gonna stink for a while. "'If you post something like this you have to expect Dolan's wrath'". The NBA preseason just kicked off last night (Oct. 3) and the New York Knicks are already in the NBA lottery.
That pipeline, however, is now locked up in lawsuits , and the B.C. government is intervening in challenges to its approval. The decision to abandon the project comes amid low oil prices and an expected slow-down in oilsands production.
Jared Donaldson fought hard against Czech seventh seed Tomas Berdych , but ran out of steam as he went down 6-3 0-6 6-2. Tomorrow (Friday) will be a tough one against Isner. 'I think I played a solid match.
It wasn't until after the game released in early access for Ultimate Edition customers that people knew how the bouns had changed. There's no word on when the feature will land, but Turn 10 says it will release it "as soon as possible" with an update.
Scotland's hopes of reaching Russian Federation remain alive after a late victor gave them a 1-0 victory over 10-man Slovakia . England now lead Group F, and can do Ireland a big favour by beating Slovenia tonight at Wembley.
Since high school, Moore has never gone consecutive years without winning a championship, a streak that was on the line Wednesday. Candace Parker , after a basketball career in the spotlight, did everything she could to keep the title in Los Angeles.
He did not elaborate, except to say that the committee had not come to any conclusions and that the investigation is ongoing. The investigation has so far featured dozens of interviews and thousands of pages of transcripts, he said.
Samajwadi Party to hold convention in Agra
He said that Akhilesh would leave for Agra from Lucknow by road in the morning and party workers will welcome him on the way. The meeting also amended the party constitution to increase the term of the President to five years from the present three.
Amit Shah abandons padyatra in Kerala, rushes to Delhi
Expecting Shah's participation, security was tightened along the road and hundreds of policemen were deployed at key points. He said, "From 2000 to 2017, Kerala Police figures show, 85 CPI (M) workers and 65 RSS (and BJP) workers were killed".
Instagram adds polls feature to stories
Do you post on Facebook Stories? Like other Instagram Stories, polls disappear after 24 hours. Facebook Stories were introduced globally in March 2017 after testing the feature in Ireland.
Delhi Police promises action against offenders
The video is released just a few hours after a controversy erupted as a Delhi Police SHO gave VIP treatment to Radhe Maa . After the inquiry was ordered on Thursday, senior officials collected the CCTV footage and DVR from the police station.
Nashville considered possible host site for 2026 World Cup
US soccer president Sunil Gulati is confident that North America's infrastructure will support their World Cup joint bid. Stadiums under consideration in the U.S. include several venues used in the 1994 World Cup like the Pasadena Rose Bowl.
Making Strides Against Breast Cancer 5K Walk 2017
Mammogram: Women 40 and older should have a mammogram every year and keep on doing so for as long as they are in good health. That's 322,600 deaths avoided during those 26 years, thanks to advances in treatment and early detection by mammograms.
Wells Fargo back in front of Congress
Since April 10, 2017, it had 1 buying transaction, and 4 selling transactions for $387.85 million activity. The Firm is engaged in the exploration and production of natural gas, NGLs and oil in the United States.
Bad start but Everton vow to stick with Ronald Koeman
What will nag Everton fans is that Koeman opted for a radical shake-up and still it elicited little overall improvement. The former Inter boss is the leading candidate to take over at the Goodison Park if Koeman faces sack.
Foreman wants to box Seagal
Foreman had great banter with fans on Twitter, insisting he was serious and believing he could get his famous jab working again to win the fight.
Google takes on Sonos, Apple with Google Home Max
The company is also expected to launch a whole range of devices tagged " Made by Google ", including their new Home Mini . The speaker will retail for £49 once it goes on sale on 19 October, and comes in three colours, coral, chalk and charcoal.