(MENAFN) Bahrain and Russia have signed an investment cooperation deal in a time when Western governments are implementing sanctions on Russia, Arabian Business reported.
The deal signed suggests that the sanctions imposed on Russia may not work to stop countries from expanding business ties with Russia as the Bahrain is considered a diplomatic ally to the US.
The Russian Direct Investment Fund (RDIF) announced that it had recently inked a memorandum of understanding with Bahrain's Mumtalakat to identify and work together on investment opportunities in their countries.
A statement released by the RDIF said that Mumtalakat's chief executive is to join the RDIF's international advisory board to help formulating its strategic direction.
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