Sovereign Wealth Brothers Patiently Wait as Qatar Investment Authority Loses Big on Rosneft Holding - SWFI
Russian oil and gas giants on the London Stock Exchange have witnessed their stock prices crater following the Russian invasion of Ukraine. At the most recent consequential time in Eastern Europe, the U.S. Treasury increased the number of sanctions on Russia, even putting blocks around Russia’s central bank.
Before Russia’s annexation of Crimea in 2014, the Russian Direct Investment Fund (RDIF), the country’s strategic development sovereign wealth fund (SDSWF), paved the way for institutional investors to access Russian developments and investments. RDIF formed a number of bilateral funds with nations such as United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, Italy, France, India, China, and Japan. The China Investment Corporation (CIC) and RDIF created the US$ 2 billion Russia-China Investment Fund. Other bilateral investment funds propped up like the Russia-Japan Investment Fund (with Japan Bank for International Cooperation). RDIF also constructed inroads with Italy and France. RDIF and Fondo Strategico Italiano (FSI) earlier formed a €1 billion Russian-Italian investment platform. Similarly, RDIF and Caisse des Depots International (CDC International) formed the Russia-France Investment Platform.
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