As the Greek debt negotiations lurch from one bruising round to the next, perhaps it's time for Athens to broaden its search for funding. At least that's the suggestion from Kirill Dmitriev, the head of Russia's sovereign wealth fund.
"Well, frankly, I believe there is tremendous opportunity to work with the world's best sovereign funds. They have lots of capital and they're starting to become even more energetic and even more innovative in their approaches, so thinking of how countries can work with them, how they can attract capital and strike deals that will win yields, I think it's a very important aspect, and I think Greece can definitely do that..." Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF), told CNBC in Moscow on Monday.
Dmitriev is experienced in hunting for new sources of funding, since Ukraine-related sanctions imposed on Russia have shut off access to western capital markets. Subsequently, RDIF has sought support for Russian businesses from Asia, Latin America and the Middle East.
A recent partnership between RDIF and the mammoth China Construction Bank will facilitate debt financing of creditworthy Russian companies by Chinese banks, which could potentially unlock as much as $25 billion in loans in the near- to mid-term.
But what about direct financial aid for the Greek government from Russia? So far Moscow's support has been purely verbal and Dmitriev said it was not a route the state-owned $10 billion RDIF was interested in following.