Putin: I have 'zero personal relationship' with Trump

Putin: I have 'zero personal relationship' with Trump

Instead, relations between the two countries has sunk even deeper as further revelations have surfaced about Russia's meddling in the United States presidential election campaign.

It is the first time that a reigning Saudi Arabian monarch has visited Russian Federation since the founding of the Middle Eastern country in 1926. "Saudi Arabia cannot ride out the low oil price to the extent that many people thought it could", the analyst said on Thursday night.

The Saudi King gave a positive assessment of the Astana process on settling the Syria conflict, Russian Foreign Minister Sergei Lavrov said, adding that Russia supports Saudi efforts to unite Syria's opposition so they can take part in the peace talks. This leaves Moscow aligned with Saudi Arabia's arch-rival Iran, whose influence Riyadh fears is growing in the region.

Russian Federation and Saudi Arabia have clinched a number of lucrative deals as King Salman paid the first official visit to Russian Federation by a Saudi monarch.

Saudi Arabia is now investing over $1 billion in over 20 Russian projects including the construction of a petrochemical complex and Pulkovo Airport in St Petersburg, Russian Energy Minister and co-chairman of the Russian-Saudi Intergovernmental Commission Alexander Novak said.

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The PIF and RDIF also agreed to establish another 1-billion-dollar high technology investment fund, it said.

More sanctions were the road to nowhere, Putin told the same forum, saying around 40,000 North Korean citizens were now working in Russian Federation.

Referring to Iraqi Kurdistan's independence referendum, Putin said Russian Federation has historically good relations with the Kurds, but in the issue of Iraqi Kurdistan Moscow believes everything must be done not to escalate the situation. US light crude was up 10 cents at $50.08.

"The sides will also touch upon issues of bilateral cooperation in trade, economy, industry, energy, agriculture and other areas, consider implementation of major joint infrastructure projects", according to the press service of the Russian government.

The Saudi monarch's visit comes after decades of strained relations. Salman said he last visited Russian Federation in 2006, before becoming king. The deal will be signed at a WTO meeting at the end of October. Relations improved under the Trump administration, but Washington's focus in Syria continues to be on fighting the Islamic State group, not on ousting Assad.