The Saudi-Russian Investment and Business Forum was held in Riyadh on December 1, 2025, as part of the 9th meeting of the Joint Intergovernmental Saudi-Russian Committee for Trade, Economy, Science and Technical Cooperation. The event brought together more than 500 participants – representatives of government agencies, development institutions, large businesses and the scientific community of the two countries – and was a key step for the further deepening of bilateral relations.
During the official part of the Forum, a series of intergovernmental documents were signed that mark a new era in cooperation between the two countries: the mutual abolition of visas for holders of all types of passports, a memorandum of understanding on climate change and low-carbon development, as well as a memorandum of cooperation in the field of archives. These agreements create new opportunities for business, cultural and humanitarian cooperation, while giving additional impetus to the implementation of joint projects in critical sectors of the economy.
Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud, emphasized in his greetings the high level of cooperation with Russia and expressed confidence in the further development of joint energy projects. On the Russian side, Deputy Prime Minister Alexander Novak underlined the importance of bilateral dialogue and invited Saudi Arabia to participate in the St. Petersburg International Economic Forum (SPIEF) in 2026, where it will be the honored country.
This cooperation is of particular importance for international energy markets. Russia and Saudi Arabia, as two of the world’s largest oil producers, play a decisive role in OPEC+ and directly influence crude prices. Deepening their relations can lead to more coordinated production policies, aimed at stabilizing markets and protecting their revenues in a period of increased uncertainty. At the same time, the cooperation shows that the two countries seek to adapt to the new requirements of the global energy transition, without losing their strategic role.
The Forum’s business program focused on investment, energy, industry, mining, infrastructure, construction, agriculture, food security and digital technologies, with an emphasis on practical opportunities for the implementation of joint initiatives. At the same time, innovative technological solutions from Russian high-tech companies were presented. The President of the Roscongress Foundation, Alexander Stuglev, guided the distinguished guests through the exhibition, presenting hybrid logistics and electromobility solutions from HYPER (Rusnano Group), interactive equipment from NexTouch, vacuum and plasma technologies from Ferry Watt, mechanical solutions from Reinholz, thermal insulation systems from Ecotermix, cybersecurity developments from Securit, unmanned aerial systems and cubesats from Geoscan, innovative solutions from Aerolife, modular construction technologies from LSTK Frame Factory and the fintech platform RealPay. The exhibition was also attended by AFK Sistema, Sberbank and the Russian-Arab Business Council.
Of particular importance was the session “Saudi-Russian Opportunities in Urban Development”, where Yulia Zubarik, CEO of Master’s Plan, presented the Roscongress Urban Hub as a platform for cooperation in the field of urban planning. In parallel, a SPIEF satellite session entitled “How Technologies Are Changing Urban Infrastructure” was held, moderated by Nikolay Vukolov of Sberbank, where modern approaches to urban development, smart transport systems and city management technologies were discussed.
The Forum concluded with bilateral B2B meetings, in which representatives of major businesses from the two countries participated. The format of direct dialogue helped participants identify promising areas of cooperation and outline new projects, strengthening the practical dimension of the strategic relationship.
This approach also has geopolitical implications. Saudi Arabia is seeking to strengthen its position as an international economic hub, while Russia is seeking new strategic alliances to counter pressure from the West. The announcement that Saudi Arabia will be the Honored Country of SPIEF 2026 confirms the strategic importance of the cooperation and presages further deepening of relations.
This development is expected to affect not only energy markets, but also the balances in the Middle East and Eurasia, as the two countries strengthen their role as pillars of the international economic and political scene. The Forum was held in anticipation of an important milestone: the 100th anniversary of the establishment of diplomatic relations between Russia and Saudi Arabia, which gives additional weight to the agreements and initiatives announced.
