The UAE sovereign wealth fund announced the suspension of investments in Russia

The Mubadala Sovereign Fund of the United Arab Emirates has decided to suspend investments in Russia. This was reported by Reuters, said the general director of the fund Khaldun al-Mubarak.

“What is happening between Russia and Ukraine has catastrophic consequences both in terms of human lives and in terms of the impact that it has on the economy around the world,” said al-Mubarak.

“Under these conditions,” he stressed, “we are forced to pause investments in this market, in Russia.”

• The total volume of assets managed by Mubadala is estimated at $243 billion. Investments in Russia, according to al-Mubarak, occupy about 1% of the fund's portfolio. Mubadala has close ties with the Russian Direct Investment Fund (RDIF).
• Earlier, sovereign wealth funds of the UAE and Saudi Arabia, working with Russia, did not announce the suspension of investments.