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Sovereign Wealth Funds Briefing - Categorized | Market

Bahrain SWF boosts Russian President with deal to co-operate on investments

Posted on 30 April 2014

In a blow for the US efforts to galvanise international support for economic sanctions on Russia, Moscow has announced a new investment deal with Bahrain’s sovereign wealth fund - whose assets include the British sports car maker McLaren Group. The Russian Direct Investment Fund (RDIF) said on Tuesday that it had reached an agreement with Mumtalakat - the investment arm of the Persian Gulf state - to promote investment co-operation.
The deal is potentially an embarrassing snub for the US government and President Barack Obama, given the vital role Bahrain plays in American defence strategy in the region. Manama, the capital of Bahrain, serves as the main operating base of the US Fifth Fleet in the Gulf and a vital American military facility in the region………………………………………..Full Article: Source


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