ST. PETERSBURG, June 19. /TASS/. Trade turnover between Russia and the Saudi Arabia climbed four-fold in Q1 2025, Russian Deputy Prime Minister Alexander Novak said following a meeting with Saudi Arabia’s Energy Minister Abdulaziz bin Salman.

"Trade turnover between the two countries soared almost four-fold in Q1 2025," Novak was quoted as saying on the website of the Russian cabinet.

Bilateral trade increased by more than 62% in 2024, he noted. Moreover, more than 40 joint Russian-Saudi investment projects were implemented in the field of information technologies, transport, infrastructure, petrochemicals, and other sectors over the past ten years, Novak added.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.