US disappointed with Bahrain-Russia investment deal The United - TopicsExpress



          

US disappointed with Bahrain-Russia investment deal The United States is disappointed with US ally Bahrains decision to sign an agreement to cooperate on investment with Russia at a time when American and European governments impose sanctions on Moscow over the crisis in Ukraine, a US State Department official said Wednesday. With Russia continuing its efforts to destabilise Ukraine, this isnt the time for any country to conduct business as usual [with Moscow], the official said. He pointed out that the US has raised its concerns with the Bahraini government. Russias Direct Investment Fund issued a statement on Tuesday saying it had signed a memorandum of understanding with Bahrains Mumtalakat sovereign wealth fund to identify investment opportunities between the two countries. Mumtalakat is the smallest wealth fund in the Gulf and possessed assets valued at $7.1 billion in September. The Russian government established the Direct Investment Fund worth $10 billion to invest in stocks, mainly in Russia. Bahrains state news agency BNA said the agreement was signed at the end of Bahraini Crown Prince Salman Bin Hamad Al-Khalifas visit to Moscow earlier this week. Bahrain is a key ally to the US and the decision indicates that Western sanctions may not discourage other countries from expanding their economic ties with Russia. BNA said Bahrain will facilitate visa procedures for Russian citizens travelling to the Kingdom for business while its national carrier, Gulf Air, will start direct flights between Moscow and Manama.
Posted on: Fri, 02 May 2014 11:47:15 +0000

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