Putin "Next Meeting in Moscow"
Scheduled Talks with Iranian President as Well
Russian President Vladimir Putin has embarked on an unusual Middle East tour, including a meeting with Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman. This move is interpreted as an effort to discuss Middle East affairs alongside the defense of international oil prices, which have become volatile amid the ongoing Ukraine war and the Israel-Hamas conflict.
According to Russia's TASS news agency on the 6th (local time), President Putin personally visited the Riyadh royal palace and met with Crown Prince Mohammed bin Salman. Putin stated, "Nothing can hinder the development of friendly relations between our two countries," and emphasized, "The next meeting should be held in Moscow," showcasing the camaraderie with Saudi Arabia. In response, Crown Prince Mohammed bin Salman said, "Of course, we are ready."
Putin continued, "Our two countries maintain stable and good relations in political, economic, and humanitarian fields," stressing, "It is very important to exchange information and assessments about what is happening in this region now." The two leaders are expected to discuss overall issues including the stabilization of international oil prices, which have been fluctuating sharply following the clashes between Israel and the Palestinian armed group Hamas, the prolonged Ukraine war, arms transactions, and trade matters between the two countries.
In particular, Putin's sudden Middle East tour is analyzed as a response to the continued decline in oil prices despite the recent announcement of additional production cuts by OPEC+, the oil-producing countries' coalition led by Saudi Arabia and Russia. This is Putin's first direct visit to the Middle East since October 2019, before the COVID-19 pandemic.
International oil prices have been plunging amid recession concerns in China and the United States. On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude oil fell sharply by 4.1% from the previous day to $69.38 per barrel, dropping below $70 for the first time in about five months. Brent crude on the London ICE Futures Exchange also closed down 3.8% at $74.30 per barrel compared to the previous session.
Before visiting Saudi Arabia, President Putin visited Abu Dhabi, UAE, where he held talks with President Sheikh Mohammed bin Zayed Al Nahyan. It is reported that the two leaders discussed the Israel-Hamas war, the situation in Ukraine, and cooperation through OPEC+. Russian authorities also stated that Putin's plane was escorted by five Su-35S fighter jets.
On the 7th, Putin is expected to intensify his Middle East diplomacy by meeting with Iranian President Ebrahim Raisi, who is visiting Moscow, Russia, in succession.
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