UK rushing to close investment deal with Saudi Arabia as PM visits Riyadh

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YFM had originally aimed for £65m, but the funding had ended up also filling the over allotment facility of £25m.
YFM had originally aimed for £65m, but the funding had ended up also filling the over allotment facility of £25m.

The UK is reportedly looking to close a multi-billion pound investment deal with Saudi Arabia as Boris Johnson gets set to visit Riyadh tomorrow.

Sky News reports that the deal could be announced during Johnson’s visit, which will see him meet with Saudi Crown Prince Mohammed bin Salman tomorrow.

City PM reported last year that the Department for International trade was looking to close a series of investment deals with gulf states, after inking one worth £10bn with Abu Dhabi.

Johnson is expected to speak to Saudi Arabia tomorrow about increasing their oil supplies to ease the pressure on global energy prices, which are spiking after Russia’s invasion of Ukraine.

Any investment deal with Saudi Arabia will likely come under heavy scrutiny due to the country’s poor human rights record.

Bin Salman was accused of sanctioning the brutal murder of dissident journalist Jamal Khashoggi in 2018 and last weekend his regime oversaw the execution of 81 people.