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Abu Dhabi sovereign fund Mubadala must pause Russia investments, CEO says – Reuters.com

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Khaldoon Khalifa Al Mubarak, group chief executive officer of Mubadala Investment Company, speaks at the 2019 New Economy Forum in Beijing, China November 21, 2019. REUTERS/Jason Lee

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DUBAI, March 28 (Reuters) – Abu Dhabi’s Mubadala Investment Company is pausing investments in Russia, which represent less than 1% of its portfolio, because of the Ukraine crisis, the chief executive of the $243 billion sovereign wealth fund said on Monday.

This is the first comment by the top executive of Mubadala, Abu Dhabi’s second biggest sovereign fund, about its Russian investments after Russia’s invasion of Ukraine, which Moscow calls a “special military operation”.

The United Arab Emirates, a member of the OPEC+ oil producing group that includes Russia, did not support a U.N. Security Council vote to condemn the Russian invasion.

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“What is happening in this crisis between Russia and Ukraine is a travesty, with catastrophic consequences, in terms of human life and in terms of the impact it’s having on economies …….

Source: https://www.reuters.com/business/abu-dhabi-sovereign-fund-mubadala-must-pause-russia-investments-ceo-says-2022-03-28/

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