Abu Dhabi to invest $5bn in Russia


Abu Dhabi is planning to invest up to $5bn in Russian infrastructure projects. The emirate’s Department of Finance (DoF) and the Russian Direct Investment Fund (RDIF) signed a memorandum of intent to establish a joint investment partnership at the Kremlin on 12 September, during Abu Dhabi Crown Prince Mohammed Bin Zayed Al-Nahyan’s visit to Moscow. Signed by Abu Dhabi DoF chairman Hamad Mohammed Al-Suwaidi and RDIF chief executive Kirill Dmitriev, the deal will be conducted on a project-by-project basis; the two sides are expected to finalise arrangements on the structure and governance of the projects and other conditions by the end of the year.