Putin: Russia and Saudi Arabia collaborating closely as part of OPEC+

MOSCOW. Jan 15 (Interfax) - Russia and Saudi Arabia are cooperating closely as part of OPEC+, helping the oil market to stabilize, Russian President Vladimir Putin said.

"In a month's time, it will be 100 years since we established diplomatic relations with Saudi Arabia. This bilateral partnership is expanding successfully and is complex in its nature; we are now coordinating closely within OPEC+, which truly is helping to maintain stability on the global oil market," Putin said during the presentation of letters of credence at a formal ceremony in the Kremlin.

He said that Russia welcomed Saudi Arabia's decision to serve as the guest country for the St. Petersburg International Economic Forum in June.

"It is also important that Saudi Arabia plans to host the Intervision international music contest, which was revived through the initiative of our country," Putin said.