Saudi Arabia to Host Russia Business Forum in Riyadh as Ties Deepen Across Multiple Sectors
Joint forum set for early December aims to expand economic cooperation beyond energy into mining, tech, construction and food security
Saudi Arabia is set to host a major business forum with Russia on December 1 in Riyadh, bringing together representatives from government, industry and private firms from both countries.
The event — organised by Saudi energy and investment ministries — reflects a growing strategic partnership and seeks to broaden cooperation beyond oil to sectors including mining, construction, technology and food security.
The upcoming forum follows earlier announcements by Saudi energy leadership that roughly 100 Russian companies and business leaders will converge with Saudi investors and businesses.
This initiative is part of a broader effort to strengthen ties across a wide range of industries.
In recent years the two nations have expanded their cooperation beyond energy, delving into mining, advanced manufacturing, infrastructure, petrochemicals and investment.
Officials note the timing is symbolically significant as the forum comes ahead of the 100th anniversary of Saudi-Russian diplomatic relations in 2026. The meeting is expected to serve as a key platform for formalising new agreements and launching joint ventures, building on momentum from previous high-level dialogues including those held during industrial-investment exhibitions in Russia this year.
The agenda reportedly features energy and resource collaboration, technology transfers, food-security investments, and construction and industrial projects — reflecting Saudi Arabia’s push under Vision 2030 to diversify its economy and attract foreign investment, while for Russia the forum offers opportunities to deepen ties with a major Gulf partner despite Western sanctions.
The planned forum underscores a shared interest in broader economic connectivity: as part of recent diplomatic efforts, Saudi Arabia and Russia have also negotiated new direct air links between their capitals, and cooperation under OPEC+ continues to anchor their energy-market alignment.
The December forum is thus seen as the next step in cementing a partnership that has already expanded into over a dozen sectors.
Whether the new forum will produce substantial deals remains to be seen — but its announcement signals both Riyadh and Moscow are increasingly treating their relationship as a multifaceted economic alliance, not just an energy-market convenience.
New contracts and announcements of joint investments may come rapidly after December 1 if the momentum holds.
The event — organised by Saudi energy and investment ministries — reflects a growing strategic partnership and seeks to broaden cooperation beyond oil to sectors including mining, construction, technology and food security.
The upcoming forum follows earlier announcements by Saudi energy leadership that roughly 100 Russian companies and business leaders will converge with Saudi investors and businesses.
This initiative is part of a broader effort to strengthen ties across a wide range of industries.
In recent years the two nations have expanded their cooperation beyond energy, delving into mining, advanced manufacturing, infrastructure, petrochemicals and investment.
Officials note the timing is symbolically significant as the forum comes ahead of the 100th anniversary of Saudi-Russian diplomatic relations in 2026. The meeting is expected to serve as a key platform for formalising new agreements and launching joint ventures, building on momentum from previous high-level dialogues including those held during industrial-investment exhibitions in Russia this year.
The agenda reportedly features energy and resource collaboration, technology transfers, food-security investments, and construction and industrial projects — reflecting Saudi Arabia’s push under Vision 2030 to diversify its economy and attract foreign investment, while for Russia the forum offers opportunities to deepen ties with a major Gulf partner despite Western sanctions.
The planned forum underscores a shared interest in broader economic connectivity: as part of recent diplomatic efforts, Saudi Arabia and Russia have also negotiated new direct air links between their capitals, and cooperation under OPEC+ continues to anchor their energy-market alignment.
The December forum is thus seen as the next step in cementing a partnership that has already expanded into over a dozen sectors.
Whether the new forum will produce substantial deals remains to be seen — but its announcement signals both Riyadh and Moscow are increasingly treating their relationship as a multifaceted economic alliance, not just an energy-market convenience.
New contracts and announcements of joint investments may come rapidly after December 1 if the momentum holds.