الإثنين, أكتوبر 3, 2022
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الرئيسيةEnglishHow did Al-Waleed bin Talal take advantage of the Ukrainian crisis...

How did Al-Waleed bin Talal take advantage of the Ukrainian crisis to invest his money in Russian companies?

Bloomberg Agency revealed that Saudi billionaire Prince Al-Waleed bin Talal has invested more than $500 million in Russian companies, after the start of the Russian military operation in Ukraine.
The agency stated that the investment company of Prince Al-Waleed “Kingdom Holding Group” obtained deposit receipts issued by the Russian companies “Gazprom”, “Lukoil PJSC” and “Rosneft PJSC” in Russia last February.
No specific dates were given for the investments, while the Saudi company did not respond to Bloomberg’s questions about whether it still owns the assets, as the value of all depository receipts decreased, according to the agency.

It is worth noting that the Sovereign Wealth Fund of the Kingdom of Saudi Arabia, headed by Crown Prince Mohammed bin Salman, recently acquired a 16.9% stake in Prince Walid’s Kingdom Holding Company, equivalent to $1.5 billion.
It is noteworthy that Prince Alwaleed was detained at the Ritz-Carlton Hotel in the Saudi capital in 2017, along with other princes and government officials as part of an anti-corruption investigation.
Al-Waleed bin Talal did not face any charges officially, as he was released after 83 days of detention in the hotel, after reaching a “confirmed understanding” with the Saudi government, the contents of which were not disclosed.
Al-Waleed bin Talal is the grandson of the founder of modern Saudi Arabia, and is one of the richest men in the country and one of the most well-known international investors.

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