CAIRO – 22 August 2017: Following the Arab boycott to Qatar, the tiny emirate has exploited its investments’ pressures to infiltrate into the Russian economy and somehow offset the Russian decision-making. As a result, the Qatari pressures have pushed the Russian government for a raft of measures, including hampering the resumption of air flights to Egypt.
Qatari-owned Premium Construction Company succeeded to win a $100 million bid to establish a huge hotel in the Crimea Peninsula, also, it had paid €240 million ($282 million) to buy 25 percent of the Pulkovo International Airport, northern Russia.
Qatar investments hinder Russia tourism resuming to Egypt - Infographics by Ahmed Hussein
Doha is believed to be investing $500 million in Russian private real estate sector. Holding Company also was reported to have offered purchasing many shares of Russian VTB Bank.
In 2016, Qatar bought 19.5 percent of the Russian ROSNEFT Oil Company’s shares with €10.5 billion, while Qatar Sovereign Wealth Fund is expected to buy 20 percent of LUKOIL Company.
Moreover, Qatar Sovereign Wealth Fund will invest $500 million in the exploration of gas and oil within the project of ‘Industrial Urals.’
Egypt is amongst the countries that turned on Qatar with a complete trade and air boycott over its terrorism support, alongside with Saudi Arabia, Bahrain and the United Arab Emirates.
In December, Russian President Vladimir Putin told Egyptian President Abdel Fatah al-Sisi in a phone call that Russian flights to Egypt will resume following a two-year hiatus of Moscow-Cairo flights over the downing of a Russian plane over the Sinai Peninsula in October 2015, killing all 224 passengers and crew on board.
Recently, Egyptian officials pulled all stops to step up security measures at Egyptian airports to enhance aviation security following a string of air accidents that hit Egypt. Most recently was EgyptAir Flight MS804 which crashed into the Mediterranean Sea back in March 2016.
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