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Thursday, 26 January 2017

Qatar sovereign wealth fund plans another $2bn Russian investment

Qatar sovereign wealth fund plans another $2bn Russian investment:

"Qatar’s sovereign welfare fund is planning to spend a further $2bn in Russia following a triumphant but controversial investment in state oil giant Rosneft. Vladimir Putin, Russia’s president, said on Wednesday that the Qatar Investment Authority would participate in new oil extraction projects in the country, without elaborating further. Abullah bin Mohammed Al Thani, the fund’s chief executive, said it would invest a further $2bn on top of $500m of existing investments in the country. Some of the investments would be made jointly with the $10bn sovereign Russian Direct Investment Fund, its partner in a deal last summer for St. Petersburg’s airport, he added. Mr Putin hosted Mr Al-Thani in the Kremlin at an event to celebrate QIA and Glencore’s deal to buy a 19.5 per cent stake in Rosneft, which concluded early this month."

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