Saudi Arabia signs a $400m agreement with Ukraine

Saudi Arabia signs a $400m agreement with Ukraine

Saudi Arabia signed an agreement and a memorandum of understanding (MoU) with Ukraine to provide the country with $400 million in humanitarian aid. This was during a high-level Saudi delegation’s visit to Kyiv, Ukraine.

The agreement includes a joint cooperation program to provide humanitarian assistance to Ukraine worth $100 million. The memorandum includes the financing of oil derivatives worth $300 million as a grant submitted by the government of Saudi Arabia through the Saudi Fund for Development (SFD). The agreement was signed by SFD CEO Sultan bin Abdulrahman Al-Marshad, and Ukraine’s Energy Minister German Galushchenko.

The visit was the first by an official delegation to Ukraine since the establishment of diplomatic relations between the two countries in 1993. 

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.