Russian Direct Investment Fund, Riyadh Agree On Investment Independence From Energy Market
Muhammad Irfan 7 days ago Fri 27th March 2020 | 11:40 AM
MOSCOW (UrduPoint News / Sputnik - 27th March, 2020) The Russian Direct Investment Fund (RDIF) continues its cooperation with Saudi Arabia, and they have agreed that investment projects implementation should not depend on the situation around energy carriers, RDIF CEO Kirill Dmitriev has said in an interview with Sputnik.
"We continue contact, we continue working on all projects, and we hope that compromise is possible at some stage. We have agreed with Saudi partners that investment projects do not depend on the situation around energy carriers," Dmitriev said, when asked to comment on cooperation with Saudi Arabia among differences on the OPEC+ oil production cuts deal.
On March 6, OPEC+ failed to agree either on deal extension or on changing its parameters, with Saudi Arabia calling for deeper cuts and Russia offering to extend the deal at current levels. As a result of the deal failure, global energy markets are highly volatile, with just several days left before the restrictions on oil production will be lifted on April 1.