According to a Russian official quoted by Qatar News Agency (QNA), Qatar and Russia inked a significant deal that will see each country deposit an extra EUR1 billion ($1.14 billion) into a joint investment fund.
This deal aims to increase our investment platform with Qatar by roughly two billion euros, with one billion euros coming from each party. The president of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, stated, “This will enable us to invest more and draw more Qatari investment money into various projects in Russia.”
The agreement with the Qatar Investment Authority, the Gulf state’s sovereign wealth fund, would focus on investments in technology, healthcare, minerals, and other areas of shared interest, according to RDIF. In 2014, the two funds had previously formed a $4 billion joint partnership.
Dmitriev also told reporters that Qatar has become a significant infrastructure investor in Russia. He pointed out that Russian businesses are keen to join Qatari partners in the Middle East market.
Amir Sheikh Tamim bin Hamad Al-Thani of Qatar and Russian President Vladimir Putin met in Moscow to formalize the accord. Vladimir Putin, the president of the Russian Federation, and His Highness Sheikh Tamim bin Hamad Al-Thani, the amir of the State of Qatar, spoke Thursday about measures to improve bilateral cooperation between their two countries in a number of areas.
According to QNA, President Putin praised the strengthening relations between the two countries, identifying Qatar as one of Russia’s most significant partners in the Middle East. H.H. the Amir emphasized his country’s determination to further cultivate its partnership with Russia in a manner that benefits both peoples.