Asian Stocks Take another Hit from AI, Mideast Worries

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman broke a period of strategic silence at the St. Petersburg International Economic Forum, delivering a message of reassurance to global energy markets. Speaking on Thursday, he stressed the urgent need for stability and affirmed Saudi Arabia's consistent role as a flexible energy supplier.

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the world urgently needs stability in energy markets

Prince Abdulaziz acknowledged that current Middle East geopolitical events are distracting from Saudi Arabia's strategic priorities, including Vision 2030. Despite this frustration, he conveyed confidence in the Kingdom's ability to address challenges and maintain economic and operational resilience. He highlighted the success of Saudi infrastructure in managing events like the Hajj season amidst regional turmoil.

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the Kingdom is a flexible energy supplier, was, and will remain so under all circumstances.

During the forum, where Saudi Arabia is the guest of honor, the minister announced the signing of 30 new cooperation agreements with Russia's private sector across various fields, including industry, education, tourism, and energy. He stated there are no limits to joint cooperation, noting that both Riyadh and Moscow are moving beyond being mere producers to "manufacturing and supplying energy in its comprehensive sense."

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current geopolitical events in the Middle East were distracting attention and obstructing focus on Saudi Arabia’s strategic priorities, foremost among them the goals of Vision 2030.

Explaining his prior silence during a global energy crisis, Prince Abdulaziz said a minister must maintain composure and not panic. He described silence amid uncertainty as a message and an acknowledgment of rapidly changing realities, showing respect for oneself and others.

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it was their duty, and that of every Saudi citizen, to defy this difficult environment and continue to pursue their ambitions.