Saudi Arabia's KHC invests in Russian energy firms

Saudi Arabia
# 15 August 2022 01:05 (UTC +04:00)

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).