On Wednesday, October 2, 2024, Yemen's Minister of Oil and Minerals and head of the Yemeni-Russian Committee, Saeed Al-Shamasi, met with Russian Geology Company Director Desatkin Sergeevich to discuss ways to enhance cooperation between the two countries, particularly in the oil, gas, and mineral resources sectors.

According to the official Saba News Agency, Al-Shamasi emphasized the Yemeni government's commitment to creating a favorable investment climate for foreign companies. He noted that the Ministry of Oil and Minerals plans to designate 2025 as “The Year of Mining” to highlight the importance of this sector and attract investment.

For his part, Sergeevich expressed his company's keen interest in investing in Yemen, affirming that they are ready to participate in the development of the country's energy and mineral resources. He mentioned that the company plans to visit Yemen soon to explore available investment opportunities, as reported by Saba.

In May, Yemeni and Russian officials held talks in Moscow to discuss Russian projects in Yemen and their potential revival, including the Al-Hswa thermal power plant, the fishing port in Hajif, and various investment opportunities in the oil, energy, and fisheries sectors.