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Saudi Aramco Breaks Ground for Upstream Research Center at Moscow University

The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. (Reuters)
The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. (Reuters)
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Saudi Aramco Breaks Ground for Upstream Research Center at Moscow University

The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. (Reuters)
The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018. (Reuters)

Strategic collaboration between Saudi Arabia and Russia continues to progress with Saudi Aramco President and CEO Amin Al-Nasser who attended the groundbreaking ceremony of a new Saudi Aramco Research Center at the Lomonosov Moscow State University (MSU) Science Park, reported the Saudi Press Agency on Friday.

The Center is Saudi Aramco’s 9th R&D facility outside the Kingdom and will focus on upstream technologies in simulation and modeling, advanced materials, data analytics and artificial intelligence. It promotes collaborative research activities primarily with MSU and other entities in Russia.

Al-Nasser said: “Saudi Aramco welcomes the collaboration with Lomonosov Moscow State University, an institution globally known for its centuries-old tradition of academic excellence, and its importance to the oil and gas industry.”

“Strong partnerships between industry and academia are key to addressing society’s energy challenges, and Saudi Aramco’s global research center at MSU Science Park will help drive research and innovation to develop new technology solutions.”

The groundbreaking at MSU Science Park follows the announcement of a Memorandum of Understanding signed in August 2018 by the two partners.

At the event, a research agreement between Saudi Aramco and MSU was signed to enable collaborative research projects between the two entities.

“Our ongoing strategic engagements and discussions with partners in Russia are taking our relationship to new heights. We advance our shared interests in stewarding our nations’ rich hydrocarbon resources, providing reliable energy sources to the world,” Nasser added.

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SAMA: Saudi Arabia Unites Regional Efforts to Combat Money Laundering

A group photo during the MENAFATF conference in Riyadh (X)
A group photo during the MENAFATF conference in Riyadh (X)
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SAMA: Saudi Arabia Unites Regional Efforts to Combat Money Laundering

A group photo during the MENAFATF conference in Riyadh (X)
A group photo during the MENAFATF conference in Riyadh (X)

Governor of the Saudi Central Bank Ayman Al-Sayari reaffirmed the Kingdom’s commitment to unifying regional efforts to combat money laundering, terrorist financing, and the proliferation of weapons, as well as addressing challenges faced by all nations in these areas.

Al-Sayari was speaking on Tuesday during the opening of the conference “Latest Developments in Combating Money Laundering, Terrorist Financing, and Weapons Proliferation,” held on the sidelines of the 39th General Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF).

He highlighted the 20th anniversary of MENAFATF’s establishment, praising its role in raising awareness and deepening understanding of international requirements across the region, which he said has helped relevant agencies in member states strengthen their compliance with global standards.

Al-Sayari commended the efforts of Saudi authorities, particularly through specialized permanent committees, to enhance the effectiveness of anti-money laundering measures and improve the Kingdom’s adherence to international obligations.

He emphasized that as money laundering, terrorist financing, and weapons proliferation crimes continue to evolve rapidly, with increasingly complex methods, countries are striving to update their legislative and regulatory frameworks to keep pace with these changes.

Al-Sayari also underscored Saudi Arabia’s support for the goals of the Financial Action Task Force (FATF) under Mexico’s presidency, aimed at combating financial flows that fuel money laundering and terrorism. These efforts, he stressed, contribute to the integrity, stability, and sustainable growth of the global economy.

Saudi Arabia actively participates in FATF discussions to ensure that cross-border transactions are more efficient, transparent, and inclusive, while maintaining compliance with due diligence requirements and other necessary safeguards.

Separately, Al-Sayari held discussions with FATF President Elisa de Anda Madrazo on key updates and mutual areas of interest in combating money laundering, terrorist financing, and weapons proliferation.