Saudi Arabia to invest $10b in Russia

Amid currently difficult economic relationship between Russia and Europe, Saudi Arabia is ready to step in. Saudi Arabia’s Public Investment Fund made a deal with Russia’s Direct Investment Fund to pour $10 billion to its economy. Investments aim at agriculture, medicine, logistics, retail and real estate sectors in a five years run.

A solid dedicated money sum should be conceived as a sign of both Saudi’s and Russia’s arrangements for taking joint financial actions. “This deal is about building an important partnership. Russia needs to be an integrated global player. We are also going to invest in Saudi Arabia, which is a very attractive market for us so the deal is very interesting,” said RDIF’s Chief Executive Kirill Dmitriev.

Not as much as Mr. Putin would seek something alternative for the Occident, a reciprocal understanding to create the political bond is essential. “Riyadh and Moscow are working to rebuild relations long plagued by the Russian government’s support for the regime of Bashar Al Assad in Syria”, reported Gulf News.

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