Saudi Arabia and Russia have signed 13 agreements worth SAR4.8bn ($1.28bn) to expand cooperation in food security and agriculture, on the sidelines of the St Petersburg International Economic Forum, Saudi Gazette reported on June 9.

The deal indicates deepening economic ties between the two oil producers as Riyadh courts Russian investment in food and biotechnology, with the kingdom attending the forum as a guest of honour amid fallout from the Iran war in the Persian Gulf, which has left several Arab monarchies uniquely exposed. 

The signings were witnessed by Saudi vice minister of environment, water and agriculture Mansour Al-Mushaiti.

Al-Mushaiti said his ministry had worked to attract leading Russian companies in vital and food-related sectors, supporting Saudi efforts to strengthen food security, localise advanced biotechnology and ensure supply chain sustainability.

He said the agreements covered the localisation of veterinary vaccine manufacturing, the breeding of broiler poultry strains to support self-sufficiency, and the securing of feed inputs and supply chains for the livestock sector.

The deals also included partnerships to export Saudi seafood such as shrimp and fish through Russian importers and distributors.

Al-Mushaiti said the forum saw agreements to market and export camel milk products and derivatives to Russian and international markets, an agreement to promote Saudi coffee exports, and a cooperation agreement in the soft drinks sector.

He said the kingdom's participation underlined the strategic partnership between Saudi Arabia and Russia.

Saudi Arabia and Russia are expanding trade relations in 2025-26, with bilateral commerce rising sharply and both sides pressing to widen the relationship beyond crude oil and energy coordination.

Russian officials say trade increased by more than 62% in 2024 and accelerated again in 2025, driven by raw materials, industrial inputs and agricultural products, while Saudi imports from Russia and Russian imports from Saudi Arabia are increasingly tied to chemicals, plastics, seafood and machinery.

Even so, money-transfer frictions from US sanctions remain a major brake on further growth, tempering ambitions that some officials have floated for a much bigger medium-term trade target.