Russia Wealth Fund Blames COVID Vaccine Companies for U.S. Sanctions

Russia Wealth Fund Blames COVID Vaccine Companies for U.S. Sanctions

The Russian Direct Investment Fund criticized U.S. sanctions, claiming officials were influenced by American pharmaceutical companies who sought to hinder Russia's vaccine on the global market.

The Biden administration is prohibiting Americans from engaging in transactions with the Russian Direct Investment Fund (RDIF) in an effort to pressure Russian President Vladimir Putin to end his attacks on Ukraine. RDIF is an investor in Sputnik V, a Russian COVID-19 vaccine, and the backlash could hinder Russia's push to make Sputnik V available worldwide.

In a Monday statement, RDIF accused western pharmaceutical companies of lobbying for the restrictions to complicate RDIF's ability to promote the Russian vaccine product internationally.