Summary
When the courtship between Russia and Saudi Arabia and its Gulf allies began more than four years ago, the prospect of billions in new investment for the region was a big selling point for the Kremlin.
For capital-starved Russia, it may still be enough.
Though Russia has reaped plenty of other economic benefits from higher oil prices and geopolitical dividends from cozying up to the Gulf, perceptions of the investment payoff are likely to be a factor in Russia's thinking about whether to extend the production cuts deal at the meeting in early July.
For Russia, the Gulf funds so far haven't been nearly enough to offset the plunge in foreign capital coming in from Western countries amid sanctions.
While the $1.4 billion Mubadala has put into Russia over the last six years is a big jump from the total absence of deals that preceded it, the flow is still just a trickle for the $225 billion wealth fund, which has most of its money in developed markets.
...