Financial services firm Barings ‘won’t be going to Russia’ anytime soon

Thomas Finke, chairman and chief executive officer at Barings.

Global financial services firm Barings is not looking to invest into Russia anytime soon, its chairman and chief executive officer said Thursday.

That’s because the country doesn’t meet Barings’ standards, Thomas Finke told CNBC’s Hadley Gamble in Riyadh, Saudi Arabia.

“I can pretty much say we probably won’t be going to Russia anytime soon,” he said. “When you invest, you have to have a confidence in the leadership, in the political system. And, so, when you make a local investment, the rules of law does matter.”

Relations between Moscow and Washington have been strained for years, hurt by Russia’s military “aggression” and “invasion” in Ukraine and compounded by its meddling in the 2016 U.S. presidential election. President Vladimir Putin’s regime has denied any wrongdoing in either event.

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