Qatar seeks more Russia investments

Qatar seeks more Russia investments
Updated 24 May 2014

Qatar seeks more Russia investments

Qatar seeks more Russia investments

ST. PETERSBURG, Russia: Sovereign wealth funds in China and Qatar signaled their increased commitment to Russia, boosting Moscow’s hopes of strengthening ties with Asia and the Middle East as relations with the West deteriorate.
Major sovereign wealth funds in the Middle East and Asia have invested in Russian businesses and backed its state-funded private equity fund, the Russian Direct Investment Fund (RDIF). By contrast, US financial investors in the country remain few.
“CIC has invested several billions of dollars in Russia,” said Ding Xuedong, chairman of the $575 billion CIC, on the sidelines of the country’s main annual investment conference in St. Petersburg.
“We will continue to increase our investment in Russia, not only in the public markets, but in direct investments,” he said.
Russia’s RDIF separately announced that Qatar’s sovereign wealth fund, the Qatar Investment Authority, is allocating $2 billion to investments with the fund.
Numerous US financiers avoided the annual investment conference in St. Petersburg on advice from the White House.
Washington and the European Union have imposed sanctions against various individuals deemed close to President Vladimir Putin in response to the situation in Ukraine.
“In our platforms — we raised $10 billion from our partners — around 90 percent came from Asia and the Middle East,” said Kirill Dmitriev, the RDIF chief executive.
“Those longer-term investors ... take a longer-term view on Russia. They see some turbulence but realize it is impossible to isolate the sixth-largest economy in the world.”