TEHRAN – Saudi Foreign Minister Faisal bin Farhan said on Thursday that the relations between the Saudi Kingdom and Iran are on advancing on the “right path”.

Bin Farhan made the remarks on the sidelines of Future Investment Initiative (FII) summit held in Riyadh.

He said Israeli actions in northern Gaza could only be described as a form a genocide that was feeding a cycle of violence.

Bin Farhan reiterated the kingdom's position that it would not recognize Israel without a Palestinian state, adding on that proposed step, Saudi Arabia is "quite happy to wait until the situation is amenable," before moving ahead with normalization.

"We look at just what's happening now in north (Gaza) where we have a complete blockade of any access for humanitarian goods coupled with a continued military assault without any real pathway for civilians to find shelter, to find safe zones, that can only be described as a form of genocide," he said, Reuters reported.

"It is certainly against humanitarian law, international humanitarian law, and is feeding a continuing cycle of violence."

He added that potential U.S.-Saudi agreements about trade and artificial intelligence are "not tied to any third parties" and "can progress probably quite quickly."