Saudi to invest in Russia

A Russia-Saudi foundation is set to invest more than $2 billion of funds in Russia during 2019.

The deal was announced at the recent G20 conference in Argentina by the chief executive of Russia’s sovereign wealth fund.

“We plan to increase investment in Russia by the joint Russian-Saudi fund by an extra $2 billion next year,” said Kirill Dmitriev.

Dmitriev also referenced a meeting at the G20 event between Russian president Vladimir Putin and Saudi crown prince Mohammed bin Salman during which Putin reportedly asked the kingdom to increase its investments in Russian projects in 2019.

Both Putin and the Prince Bin Salman have attracted controversy during 2018 – the former for alleged meddling with US elections and the latter for his alleged role in the murder of US-based journalist Jamal Khashoggi.

©2018 funds global mena

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