Putin to visit UAE, Saudi Arabia this week

 MOSCOW: According to a report published on Monday by the Russian news outlet Shot, which cited Putin's aide Yury Ushakov, the Russian president will travel to Saudi Arabia and the United Arab Emirates this week.

The revealed visit comes after the OPEC+ gathering of oil makers, which incorporates every one of the three nations, concurred last Thursday to intentional result cuts totalling 2.2 million barrels per day.

Because of concerns regarding the extent to which the voluntary reductions would be implemented, markets reacted with skepticism to the agreement. Oil costs fell two percent last week after the declaration, and declined further on Monday. The Saudi and Russian voluntary cuts of 1.3 million bpd were extended, bringing the total to 2.2 million bpd.

Shot cited Ushakov as saying Putin would go first to UAE and afterward to Saudi Arabia, where dealings would happen fundamentally with Crown Sovereign Mohammed container Salman.

Ushakov stated, "I hope that these will be very useful negotiations, which we consider to be very important." In recent years, Putin has only traveled to states that were once part of the Soviet Union. His most recent excursion outside of those nations was to China in October.