Qatar is not planning new investments in Russia based on a commercial assessment and will not make new investments until it sees “a better atmosphere and more political stability” according to the country’s foreign minister.

In an interview with CNN, Sheikh Mohammed bin Abdulrahman Al-Thani said Qatar’s investments in Russia were being reviewed in the light of the ongoing conflict between Russia and Ukraine.

He said: “Our investment decisions, as I told you, is based on commercial assessment and what we have currently in Russia, we are not thinking about increasing that these days until we see a better atmosphere and more political stability.”

Al-Thani said the unprecedented deterioration in the humanitarian situation should be the focus, with humanitarian corridors and a ceasefire in Ukraine being prioritised.

 “Qatar’s stand has been very, very clear, we are against any act of aggression or threatening of use of power or the use of power against the sovereign country or you know, trying to undermine the territorial integrity of any country,” he said.

The foreign minister also said that his country would never give up on its efforts to try to support both Ukraine and Russia: “In order to find a common ground and to help to put an end for this humanitarian catastrophe, and we will never give up on our efforts.”

Qatar Development Bank announced last year that it had facilitated the entry of nine Qatari companies into the Russian market.

(Reporting by Imogen Lillywhite; editing by Seban Scaria)