In recent years, there have been significant positive developments in Russian-Saudi relations. In 2003, the Crown Prince of the Kingdom of Saudi Arabia (KSA) Abdullah visited the Russian Federation for the first time in the history of our relations. The talks between Abdullah (now King of Saudi Arabia) and Russian President Vladimir Putin, as well as the signing of a number of important joint documents, laid a qualitatively new foundation for the dynamic development of business cooperation between the two countries. Cooperation was established between the Russian Federation and the KSA - the largest producers and exporters of hydrocarbons. Lukoil Overseas is implementing a large-scale project to develop a gas field in the Rub al-Khali desert in Saudi Arabia. High-tech communications are developing productively. Between 2002 and 2005, more than ten Saudi communications satellites were launched by Russian rockets. 1 At the beginning of February 2007, the most important event in the development of cooperation between the two countries took place - the first ever official visit of the President of the Russian Federation to the Kingdom of Saudi Arabia.2 During the visit, the parties signed agreements on air transport, avoidance of double taxation of income and capital, as well as a memorandum of understanding and cooperation between Vnesheconombank, Roseximbank and the Saudi Development Fund. Speaking at a business forum in Riyadh, Vladimir Putin called on Saudi businessmen to invest in the Russian economy, as well as to set up a joint Russian-Saudi bank that would promote bilateral investment and regulate financial flows. The Russian president stated: "This is a good plan, and nothing prevents the creation of a Russian-Saudi bank. Sustainable economic growth, political stability, and a sound legal framework are all favorable conditions for long-term capital investment. Saudi financial institutions could open their subsidiary banks in Russia. " 3 In this context, the stu ... Читать далее