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Wednesday, February 1, 2023

UK and Saudi Arabia to work on energy market stability

EconomyUK and Saudi Arabia to work on energy market stability

Riyadh (Times Of Ocean)- Prime Minister Boris Johnson said on Wednesday that UK and Saudi Arabia should cooperate “to improve energy security and reduce reliance on Russian hydrocarbons”.

Johnson presented the UK’s view that following Putin’s illegal invasion of Ukraine we are facing a fundamentally changed world order at a meeting with Saudi Crown Prince Mohammed bin Salman in Riyadh.

Johnson and bin Salman agreed to maintain stability in the energy market and continue the transition to clean and renewable energy, according to a UK government statement.

“They also committed to boost cooperation in defence, security, trade, and culture, welcoming a new UK-Saudi Strategic Partnership Agreement and a major investment announced today by the alfanar group in green aviation fuel in Teesside.”

The British premier praised progress against Saudi Arabia’s Vision 2030, including on women’s empowerment and employment, but expressed concerns about ongoing human rights violations.

According to the statement, the leaders also discussed key regional issues.

Johnson was in the United Arab Emirates and Saudi Arabia on a one-day trip amid plans to reduce dependence on Russian energy resources.

After its “brutal and unjustified” attack on Ukraine, the UK and its Western allies have pledged to reduce their reliance on Russian fossil fuels.

There has been a war in Ukraine for the past three weeks, and the West has so far introduced unprecedented sanctions against the Russian economy.

During his trip, Johnson said the world needed to avoid being blackmailed by Putin in the same way that so many Western countries have been.

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