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At the meeting, Mr Putin reiterated Russia’s support for Saudi Arabia’s Middle East peace plan. He underscored its significance by saying it was one of the initiatives taken as the foundation for a document worked out in Madrid by the Quartet of Mideast mediators, which included Russia, the United States, the European Union and the United Nations.

The Russian leader said he was concerned about developments in this troubled region and that he deemed it premature to gauge the results of US State Secretary Colin Powell’s latest Middle East tour.

Mr Putin said the current level of economic interaction between Russia and Saudi Arabia was significantly below the countries’ potential. Trade turnover stood at $120 million, which, according to the Russian President, was tantamount to a lack of Russian-Saudi commerce.

Mr Putin and Prince Saud al-Faisal re-emphasised the importance of involving European countries in the process of resolving the conflict in the Middle East.

Al-Faisal handed over a message from the King of Saudi Arabia. Putin, for his part, asked the Minister to convey his invitation to the King and the Crown Prince of Saudi Arabia to visit Russia.