Salman's visit comes after decades of tensions, most recently over the war in Syria, where Saudi Arabia had backed the Sunni rebels fighting to oust President Bashar Assad, while its arch-rival, Shiite powerhouse Iran, had teamed with Russian Federation to shore up his rule.
Salman and his retinue looked on in confusion for several moments, before the 81-year-old king began to descend the staircase step by step. Now everything will depend on the personal meeting between the leaders of Russian Federation and Saudi Arabia.
"This is a landmark event", Mr Putin said in televised comments before the meeting at the Kremlin's opulent St Andrew's Hall.
Among the expected agreements is the establishment of a $1 billion fund for technology investment, cooperation in water desalination and energy efficiency in air-conditioners, as well as Saudi investment into toll-free roads in Russian Federation.
"The partnership with one of Saudi Arabia's biggest petrochemical companies will allow Sibur to develop its expertise and sales areas and to study.the Middle East market", Sibur Chairman Dmitry Konov said. Saudi Arabia had previously been opposed to the plan because it involves Iran.
Two Russian submarines fired 10 "Kalibr" cruise missiles from the Mediterranean Sea at militant targets in Syria's Deir al-Zor province in an effort to support a Syrian army offensive, Russian news agencies cited the Defence Ministry in Moscow as saying on Thursday (October 5).
Falih said that Saudi Arabia wants to develop ties with Russian Federation further, particularly in the private sector. That marked a shift for the kingdom, which buys most of its military kit from the United States and Britain.
And a deal has also been reached for Russian Federation to supply Saudi with S-400 anti-aircraft missiles. "Falling back to the old scheme with decent USA shale-supply growth expected for next year is not an option".
"We strive to continue the positive cooperation between our countries to achieve stability on world oil markets which promotes the growth of the world's economy", Salman said in Moscow.
"I haven't decided whether I'm going to run at all".
The message of further joint Saudi-Russia action on output helped push up oil prices on Thursday.
Experts believe, however, that the alliance between Moscow and Riyadh may change the current situation on the world oil market. If the Saudis make direct investments in Russian assets, this will undoubtedly show influence on the entire oil market.
Saudi Aramco is the national oil company of Saudi Arabia, 100-percent controlled by the Government of Saudi Arabia.
At the same time, Russian President Vladimir Putin successfully fills the "power vacuum" in the Middle East and in fact has become its new "master", Bloomberg said.