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Ukraine Gets Support From Saudis With $400 Million Aid Deal
- Saudi Foreign Minister Prince Faisal makes trip to Kyiv
- Saudi Arabia voted for UN resolution on Russia’s invasion
One Year of War in Ukraine: The Global Impact
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One Year of War in Ukraine: The Global Impact
By
Volodymyr Verbyany
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26 February 2023 at 20:15 GMT+3:30Updated on27 February 2023 at 10:45 GMT+3:30
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Saudi Arabia signed agreements worth $400 million with Ukraine on Sunday after the kingdom’s foreign minister made a surprise visit to Kyiv, a move praised by Washington.
Prince Faisal bin Farhan met President Volodymyr Zelenskiy, his chief of staff Andriy Yermak, his Ukrainian counterpart Dmytro Kuleba, and others. He was the highest-ranking Saudi official to visit Ukraine in 30 years.
The trip comes after Saudi Arabia was accused by the US of siding with Russia in its year-old invasion of Ukraine through its oil policy. Saudi Arabia steers the OPEC+ producers group with Moscow, and Washington has said its production cuts have been detrimental to the global economy. Saudi Arabia rejects this, saying its policy is aimed at balancing global oil markets and is not political. The rift soured US-Saudi relations last year but tensions have since eased.
The agreements stipulated how Ukraine will spend some $410 million in humanitarian aid the Saudi government authorized in October, the prince told reporters.
As part of that, Saudi Arabia said it will finance $300 million worth of oil products for Ukraine as a grant.
The US welcomed Prince Farhan’s visit, calling it an “important step.”
Saudi Arabia Says US Ties are Solid as It Defends Oil Policy
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Politics
Ukraine Gets Support From Saudis With $400 Million Aid Deal
- Saudi Foreign Minister Prince Faisal makes trip to Kyiv
- Saudi Arabia voted for UN resolution on Russia’s invasion
One Year of War in Ukraine: The Global Impact
Unmute
One Year of War in Ukraine: The Global Impact
By
Volodymyr Verbyany
+Follow
26 February 2023 at 20:15 GMT+3:30Updated on27 February 2023 at 10:45 GMT+3:30
Sign up to receive the Balance of Power newsletter in your inbox, and follow Bloomberg Politics on Twitter and Facebook for more.
Saudi Arabia signed agreements worth $400 million with Ukraine on Sunday after the kingdom’s foreign minister made a surprise visit to Kyiv, a move praised by Washington.
Prince Faisal bin Farhan met President Volodymyr Zelenskiy, his chief of staff Andriy Yermak, his Ukrainian counterpart Dmytro Kuleba, and others. He was the highest-ranking Saudi official to visit Ukraine in 30 years.
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The trip comes after Saudi Arabia was accused by the US of siding with Russia in its year-old invasion of Ukraine through its oil policy. Saudi Arabia steers the OPEC+ producers group with Moscow, and Washington has said its production cuts have been detrimental to the global economy. Saudi Arabia rejects this, saying its policy is aimed at balancing global oil markets and is not political. The rift soured US-Saudi relations last year but tensions have since eased.
The agreements stipulated how Ukraine will spend some $410 million in humanitarian aid the Saudi government authorized in October, the prince told reporters.
As part of that, Saudi Arabia said it will finance $300 million worth of oil products for Ukraine as a grant.
The US welcomed Prince Farhan’s visit, calling it an “important step.”
Saudi Arabia Says US Ties are Solid as It Defends Oil Policy
Sunday’s trip was also the first to Ukraine by a high-ranking official from an Arab country since Vladimir Putin’s invasion began in February 2022.
“We treat it as an important evidence of support of our state, especially in these days, amid the one-year mark of the Russian Federation’s full-scale aggression,” Yermak said. “This dialogue and this meeting is very important for us.”
Yermak said Ukraine’s officials discussed with Prince Faisal respect for the rules of international law and the United Nations statute. “Our stance on this is unified,” he said.
Saudi Arabia was one of 141 countries that voted last week in favor of a non-binding United Nations resolution calling for Moscow’s withdrawal from Ukraine.
Abramovich Met Saudi Prince for Russia-Ukraine Prisoner Exchange
The parties also talked about Saudi Arabia’s prior help setting up prisoner swaps with Russia and prospects for additional exchanges, to strengthening both Kyiv’s and Riyadh’s positions in the global south, including Africa.
Ukraine hopes Riyadh will support at least some items in the peace plan laid out by Zelenskiy in November, Yermak said.
— With assistance by Fahad Abuljadayel
Ukraine Gets Support From Saudis With $400 Million Aid Deal
Saudi Arabia signed agreements worth $400 million with Ukraine on Sunday after the kingdom’s foreign minister made a surprise visit to Kyiv, a move praised by Washington.
www.bloomberg.com
