Qatar and Russia signed a major agreement that will see each nation contribute an additional EUR1 billion ($1.14 billion) into a collaborative investment fund, Qatar News Agency (QNA) reported, citing a Russian official.
“This is an agreement to expand our investment platform with Qatar by the amount of about two billion euros, one billion euros from each side. This will allow us to invest more, to attract more Qatari investment money into various projects in Russia,” said Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF).
Focus on key sectors of mutual interest
According to RDIF, this deal with the Qatar Investment Authority, which is the sovereign wealth fund of the Gulf state, will target investments in technology, healthcare, minerals, and other sectors of mutual interest. The two funds previously established a $4 billion joint venture in 2014.
Major investor in Russian infrastructure
Dmitriev further informed reporters that Qatar has emerged as a major investor in Russian infrastructure. He noted that Russian companies are eager to enter the Middle Eastern market alongside Qatari partners.
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High-level discussions in Moscow
The agreement was finalized during a meeting in Moscow between Russia’s President Vladimir Putin and Qatari Amir Sheikh Tamim bin Hamad Al-Thani. On Thursday, His Highness Sheikh Tamim bin Hamad Al-Thani, Amir of the State of Qatar, and Vladimir Putin, President of the Russian Federation, discussed ways to enhance bilateral cooperation between the two nations across various domains.
Growing relations and future commitments
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
