Russia may back Aramco IPO, enhance OPEC ties - RTRS

More headlines crossed the wires from the Russian Direct Investment Fund Head Kirill Dmitriev from his speech at the World Economic Forum (WEF) in Davos.

Key Quotes via Reuters:

“We see great interest in the Aramco IPO from Russian pension funds as well as from our Chinese partners.”

“Russia already has significant positions in the oil business so it is hard to expect us taking a very significant stake during the IPO.” 

“The deal has created elements of trust in investments and in political cooperation. It did help political dialogue. It showed Russia and Saudi Arabia can work together.” 

Dmitriev’s $10 billion fund has joint projects with Saudi Arabia, including a $1 billion technology fund.