Russia turns to Arab states for financing | The National

Russia turns to Arab states for financing | The National:



"Russia is looking to its Middle Eastern neighbours to help it recover from sanctions – and is finding Arab states eager to scale up economic ties.



A host of Arab ministers showed up to the St Petersburg International Economic Forum on Thursday, indicating that even as sanctions bite the Russian president Vladimir Putin is still able to draw friendly Arab governments to visit.



While Russia’s deputy industry and trade minister Viktor Evtukhov said no significant governmental representatives from the European Union attended the event, he emphasised that Middle East states had sent “everyone”, including “top-level representatives and mid-level representatives”. Arab ministers were keen to pitch for Russian business and to stress their political support for the country. Mounir Abdel Nour, the Egyptian minister of industry, trade and investment, who attended the conference, said: “Russia is a reliable partner – unlike many other countries.”"



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