Saudi business has deals with Russia, Ukraine markets

Several Saudi public companies have financial deals with Russian and Ukrainian markets besides announced investments in these countries.

Based on data collected by Maaal, Saudi Aramco’s SABIC says that it has affiliate offices in Eastern Europe such as offices of SABIC Eastern Europe Limited and Astra Industrial Group which totally owns Astracom limited in Ukraine.

The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, Saudi Basic Industries Corporation (SABIC) and ESN Group have agreed in 2019 to invest in a project to design, build and operate a methanol plant in the Amur Region.

Saudi Chemical Company signed a non-binding memorandum of understanding (MoU) with the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, in 2020 to provide and distribute the coronavirus (COVID-19) vaccine in the kingdom.

Russia’s imports from KSA reached SR 16.3 million while Moscow exports to the Kingdom reached SR 723.7 million in December 2021.

Meanwhile, Ukrainian imports from Saudi Arabia reached SR 40.8 million and exports reached SR 266.2 million last December.