• Initiative Future of Global Oil Markets Future of Global Oil Markets
  • Type Press release
  • Date 14 October 2019

From Russia with love


For millions of my generation, Russia was never considered as a possible destination — until recently. Be it for business, tourism, academic, medical or other purposes, we opted to visit and explore other countries.
The decades-long Cold War with the West, coupled with the language barrier and other cultural factors, kept us distant from Russia. But now the exchange of high-profile official visits by the two countries’ leaderships has ushered in a new era between the nations, with historic milestones in the making.
On his latest official visit to the Kingdom, Russian President Vladimir Putin signed a series of investment contracts worth billions of dollars across a wide variety of sectors.
Before the visit and as a sign of commitment to this country, the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, opened its first overseas office in Saudi Arabia. The office will conduct its activities based on ongoing partnerships, mainly with the Saudi Public Investment Fund (PIF), as well as agreements and platforms with key partners from the country.

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