Middle Eastern wealth funds are reportedly facing a higher level of scrutiny from the Biden administration when it comes to US deals. This is part of a wider pushback on entities believed to maintain close ties with Beijing. This information comes from unnamed sources claiming direct knowledge of the situation.
The Committee on Foreign Investment in the United States (CFIUS) has been flagged as one of the sources of this heightened scrutiny. The sources suggest that the CFIUS is currently in the process of reviewing a series of multibillion-dollar deals made this year that could potentially pose national security risks.
The sources further clarified that, currently, officials in President Joe Biden’s cabinet are reviewing over half a dozen acquisitions. This includes deals from institutions like the Abu Dhabi Investment Authority and the Mubadala Investment Corporation, among others. However, due to the confidential nature of this information, these sources have taken the step to remain anonymous.
This news marks another significant chapter in the escalating tensions between the United States and China. With the potential for a considerable impact on international trade and investment, legal professionals around the globe will undoubtedly be keeping a close eye on how this situation unfolds. For further information on this development, you can read the full report on Bloomberg Law.