23:09 GMT +3 hours25 July 2016
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Saudi Foreign Minister Adel Al-Jubeir listens Russian Foreign Minister during their meeting in Moscow on August 11, 2015

Saudi Arabia Wants Better Ties, Investments With Russia

© AFP 2016/ YURI KADOBNOV
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Saudi Arabia wants better ties and investments with Russia, Foreign Minister Adel al-Jubeir said. At the same, the minister rejected Moscow’s mediation to settle the row between Riyadh and Tehran.

Saudi Arabia wants to improve its ties with Russia, a country the kingdom sees as a "great power," Saudi Foreign Minister Adel al-Jubeir said.

"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," the minister told CNBC on Tuesday.

He underscored that Riyadh would take a pragmatic approach to investing in Russia.

If Saudi Arabia finds investments that are profitable, it will invest, the minister said.

The words came amid the ongoing spat between Riyadh and Tehran following the execution of prominent Shia cleric Nimr al-Nimr in Saudi Arabia last week. The execution prompted protests in Iran during which the Saudi embassy in Tehran and the consulate in Mashhad were attacked. In response, the kingdom cut off diplomatic ties with Iran.

Russia has offered its mediation to help resolve the conflict. However, the minister said Riyadh did not need help.

"When it comes to mediation, we don't need mediation," al-Jubeir said.

According to him, Iran should change its stance and express its willingness to normalize ties with Saudi Arabia, and then Riyadh will do the same.

Related:
Russia Expresses Concern over Saudi-Iran Escalation, Calls for Dialogue
Russia Ready to Mediate Conflict Between Saudi Arabia, Iran
Saudi Actions Against Iran Threaten Syrian Peace Process - Ex-CIA Officer
Saudi-Iranian Divide to Lead to Future Regional Turmoil - Ankara
Tags:
tensions, investments, trade, crisis, Adel al-Jubeir, Iran, Saudi Arabia, Russia
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  • ariavd
    Peace and love. Don,t smoke that heavy stuff.!! Wonder if he get a new skirt every day?
  • Cognitive dissonance of a satanic level. The devils have murdered Nimr, a political opponent in broad daylight in complete disrespect of the whole world, and are saying its the Iranians fault now?
  • cast235
    Best to keep them OFF the cookies jar. They been promoting Wahhabism thru mid east. Prompted the mess in Syria with NATO moving Wahhabi preachers around. Russia doesn't need their investments. Nor their issues with Iran. They should had thought better.
  • peaceactivist2
    With Saudi human right records and ISIS/ISIL/DAESH style of governing beheading System, Russia should condemn any relationship with Saudi in all fronts, economy, military, social, political, etc.
  • ewt2025
    Stay away from these snakes Russia, keep the high ground.
  • Ivan Zadorozhny
    A platitude casually dropped in an interview. Why should it matter?
  • We are both members of the G20 but we have very little trade, very little investment

    Coz Russia knows.. the more you make.. the bigger supports the ISIS will get.. up to their teeth..! This is the product of British when they groomed up Bedouin Pagan nomads..! The product of wahabbism..
  • cavedeborah
    The US is trying to make money off the Saudis, so they convinced them to bomb Yemen to deplete their arsenals so Saudi Arabia would need to buy more weapons from the Americans. The Saudi's should replenish their cache with Russian gear.
  • qvasko 15
    I think geopolitics of syria wont permit it
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