A polishing fluid comprising a distributed organic phase and a continuous aqueous phase, each phase comprising at least one complexing agent. The aqueous phase also having abrasive particles dispersed therein. Reaction products generated during polishing interact with the aqueous phase complexing agent to form water soluble metallic complexes, the water soluble metallic complexes diffuse to an organic/water interface where they release complexing agent molecules in the aqueous phase and generate metal ions which interact with the organic phase complexing agent to form organometallic complexes. Further disclosed is a polishing method, a semiconductor device and semiconductor device fabrication method utilizing the polishing fluid.