Saudi Arabia will serve as the guest of honor at the 29th St. Petersburg International Economic Forum (SPIEF), Russia’s flagship annual economic conference, which opens this week. The Kremlin confirmed the designation, adding that Energy Minister Prince Abdulaziz bin Salman will lead a high-level Saudi delegation that includes Saudi Aramco and other major national institutions.
Additionally, the announcement came as Russian Foreign Minister Sergei Lavrov met his Saudi counterpart, Prince Faisal bin Farhan, in Moscow. Lavrov noted that the selection carries “major historical symbolism,” coinciding with the 100th anniversary of diplomatic relations between the two countries. He also praised the Kingdom’s strong showing at SPIEF 2025, where Prince Abdulaziz held productive talks with Russian Deputy Prime Minister Alexander Novak.
A Platform for Partnership Across Key Sectors
At the forum, Saudi Arabia will showcase its investment, export, and tourism potential through a dedicated national pavilion, alongside a rich cultural program and targeted business meetings. Kremlin adviser Anton Kobyakov said the participation would “inject new momentum into the strategic partnership between Moscow and Riyadh across energy, industry, transport, finance, and high technology.”
Saudi Arabia joins a distinguished list of Gulf and regional states that have previously held guest-of-honor status, including Qatar, the UAE, Egypt, Oman, and Bahrain, reflecting the forum’s deepening ties with the Global South.
Founded in 1997, SPIEF draws heads of state, ministers, and chief executives from across the world to address challenges facing emerging markets and the global economy. In 2025, it attracted a record 24,200 participants from 144 countries and saw deals worth 6.48 trillion rubles ($89 billion) signed. This year, more than 100 major companies, including Rosatom, Sberbank, Gazprom, and Novatek, serve as official partners.
