Saudi sovereign fund to invest $10b in Russia

Gulf News, 07.07.2015

First seven projects receive preliminary approval, with another 10 expected to be closed by year-end

Saudi Arabia's sovereign wealth fund has agreed to invest $10 billion (Dh36.7 billion) in Russia, in a powerful sign of the rapprochement between Moscow and Riyadh.

The Public Investment Fund (PIF) signed a deal with the Russian Direct Investment Fund (RDIF) for the largest foreign direct investment yet in Russia, RDIF said late on Monday.