Saudi Arabia Wants More Trade with Russia

Middle Eastern powerhouse Saudi Arabia wants better ties, trade and investment with Russia, a country it sees as a “great power,” the Saudi minister of foreign affairs told CNBC.

“With regards to our relationship with Russia, we believe that the extent of trade we have with Russia is not in line with the size of our respective economies. We are both members of the G20 but we have very little trade, very little investment and so we wanted to change that,” Adel al-Jubeir told CNBC on Tuesday.

“Russia is a great power. Russia has 20 million Muslims living in it. Russia can play a positive role and we wanted to engage with Russia, we wanted to improve our relationship with Russia not at the expense of our relationship with any other country but for the sake of having better ties with Russia.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza