Bilateral Relations

Saudi Arabia Kingdom Holding Company invested in Russian gas and petroleum companies

by APA

Saudi Arabia’s Kingdom Holding Company (KHC) has invested in Russian energy groups Gazprom, Rosneft, and Lukoil between February 22 and March 22, the company disclosed in a filing on Sunday, APA reports citing Teletrader.

According to the data, Kingdom Holding invested 1.37 billion rials ($364 million) in Gazprom, 196 million rials ($52 million) in Rosneft, and 410 million rials ($109 million) in Lukoil.

Other investments include a $220 million investment in Phoenix Group and $221 million in investment manager M&G. Investments were also made in Uber, Lyft, Alibaba, and BlackRock TCP Capital. Finally, the company added that Kingdom Holding’s investments are part of a three-year plan of 12.8 billion rials ($3.4 billion).

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