Ukraine War Sanctions Hit Middle East Sovereign-Wealth Funds’ Russia Bets
DUBAI—Persian Gulf sovereign-wealth funds have suffered some of the worst losses from falling asset prices in Russia since the invasion of Ukraine.
Abu Dhabi’s and the were some of the most active sovereign-wealth funds in Russia over the past decade and are now among the most exposed to Russia’s growing financial isolation. Until March, Middle East government funds held 69% of all assets bought by state-owned investors in Russia, according to Global SWF, a New York organization that tracks sovereign-wealth fund investments.
