Abu Dhabi Wealth Fund Mubadala Pauses Investments in Russia, Reuters Says - Bloomberg
Abu Dhabi sovereign wealth fund Mubadala Investment Co. will avoid investing in Russia for now, a sign that the war in Ukraine is complicating ties between Moscow and the UAE.
“Obviously, in this environment, we have to pause investment in this market in Russia,” Mubadala Investment Co. Chief Executive Officer Khaldoon Al Mubarak told an investment conference in Dubai. “Pause and wait to see how the situation settles.”
Mubadala is the first sovereign wealth fund from the Middle East to offer public comments on the month-old war.
“What is happening in this crisis between Russia and Ukraine is a travesty, with catastrophic consequences, in terms of human life and in terms of the impact it’s having on economies all over the world,” Al Mubarak said. “There’s no question it is in the best interest of the whole world this crisis ends now.”
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