Kingdom Holding invests in Russian energy companies
Saudi team claimed it spent SR1.37 billion in Gazprom and also SR196 million in Rosneft on February 22, and also SR410 million in Lukoil from February 22 to March 22
Saudi Arabia’s Kingdom Holding purchased Russian power teams Gazprom, Rosneft and also Lukoil in between February 22 and also March 22, it claimed on Twitter on Sunday.
Numerous Western countries have actually enforced permissions on Russian power companies and also their execs adhering to Russia’s intrusion of Ukraine on February 24.
The Kingdom Holding financial investments drop within the business’s SR12.8 billion ($ 3.4 billion) three-year financial investment program, the business included.
Kingdom Holding claimed it spent SR1.37 billion in Gazprom and also SR196 million in Rosneft on February 22, and also SR410 million in Lukoil from February 22 to March 22.
Kingdom Holding is primarily had by Saudi Royal prince Alwaleed container Talal, however Saudi Arabia’s sovereign riches fund, the general public Mutual Fund (PIF), took a 16.87 percent risk in the business in Might.
Saudi Arabia and also Russia lead the Opec+ team, a partnership developed in 2017 in between the Organisation of the Oil Exporting Countries (Opec) and also allied manufacturers.– Reuters