Russia Turns Its Back On The Aramco IPO

The Russian Direct Investment Fund (RDIF)—Russia’s sovereign wealth fund—will not make a huge investment in the listing of Saudi Aramco, although some Russian funds believe that the Saudi oil giant is an attractive investment, Kirill Dmitriev, chief executive at the RDIF, told Reuters on Wednesday. “Definitely Russia will not be making a huge investment in Aramco because already it is quite exposed to oil,” Dmitriev said in an interview with Reuters in Riyadh. However, Dmitriev noted, many Russian pension funds find…