Before the fall in prices in the oil markets, the relations between the parties were quite cold, but now Moscow and Riyadh see opportunities for rapprochement.

Russia and Saudi Arabia, the two largest oil producers and exporter in the world, signed a series of landmark agreements during the first state visit to Moscow of King Salman bin Abdul Aziz Al Saud, which will allow the two countries to reduce dependence on commodity markets.

Based on the signed agreements, Saudi Arabia's sovereign fund Public Investment Fund (PIF) and the Russian Direct Investment Fund (RFPI) will create platforms for investment in the energy and technology sectors, with investments in each platform amounting to about $ 1 billion.

Saudi investors will also consider investing in infrastructure construction. Fund PIF signed an agreement to buy a stake in the company, which will build a backup Kutuzovsky Prospekt in Moscow and light light rail line in St. Petersburg. The volume of investments in these infrastructure projects will be $ 100 million.

At the same time, the volume of trade between Russia and Saudi Arabia remains small. According to the Ministry of Economic Development, the trade turnover between the countries increased by 30% in the first half of 2017 compared to the same period last year, amounting to only $ 430 million.

According to most experts, these figures do not correspond to the potential of trade and economic cooperation between the two countries.