A number of big Middle Eastern investors have declared plans to cease investments in Russia, citing fears about the wider economic impact of the ongoing Ukraine conflict.
Qatar’s government and Mubadala Investing Company, based in the United Arab Emirates, have just announced that their investment activities in the country have been halted.
Although this is not the same as the mass migration of western corporations from Russia, it will add to Moscow’s economic woes and may prompt other major investors to reassess their position.
Obviously, we have to stop investment in this sector in Russia in the current context, said Mubadala CEO Khaldoon Al-Mubarak at an investment conference in Dubai this week. Wait and watch how the issue plays out.
“What is happening in this crisis between Russia and Ukraine is a travesty, with catastrophic consequences, in terms of human life and in terms of the impact it’s having on economies all over the world,” he added.
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