United Arab Emirates unveil plans to invest in Russia

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United Arab Emirates unveil plans to invest in Russia
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The United Arab Emirates (UAE) are interested in investing in Russian assets, the country’s Minister of Energy, Suhail Mohammed Faraj Al Mazroui, told reporters on Wednesday.

Al Mazroui replied in the affirmative, when asked the corresponding question by a reporter. The Minister also noted that the UAE has already investing in Russia jointly with the Russian Fund for Direct Investments, through Mubadala sovereign fund.

In addition, Al Mazroui said that the United Arab Emirates, being a shareholder of Austrian OMV, invests in Russia via Gazprom gas company as well.

As a reference, two sovereign funds, IPIC and Mubadala, jointly own 24,9% of Austrian OMV, which has recently agreed to buy a 24,99% stake in the Yuzhno-Russkoye field located in the Yamal-Nenets Autonomous District, from German Uniper Exploration & Production GmbH.