Global public subsidies for fossil fuels almost doubled to $700bn in 2021, analysis has shown, representing a “roadblock” to tackling the climate crisis. Despite the huge profits of fossil fuel companies, the subsidies soared as governments sought to shield citizens from surging energy prices as the global economy rebounded from the Covid-19 pandemic. Most of...
Politicians and activists are calling for Dubai and the United Arab Emirates to be blacklisted over its failure to observe sanctions against Russian oligarchs and stem the flow of dirty money flowing through the UAE. Western countries including the US and UK hit Russia with stringent sanctions in February after Russia invaded Ukraine. This prompted some oligarchs to...
One is a sanctioned businessman. Another is a convict. Two more are celebrities with ties to political power. What unites these disparate individuals? They are all Belarusian politically exposed persons listed as owning real estate in Dubai, a kingdom in the United Arab Emirates that has become a playground for the global rich. In May,...
Call to Blacklist Dubai and UAE Over ‘Dirty Money’ and Oligarchs. Politicians and activists are calling for Dubai and the United Arab Emirates to be blacklisted over its failure to observe sanctions against Russian oligarchs and stem the flow of dirty money flowing through the UAE. Western countries including the US and UK hit Russia with...
Two British men who spent time in detention in the United Arab Emirates have testified in Paris that an Emirati security official who is now the president of Interpol was responsible for their alleged torture. Matthew Hedges, an academic imprisoned in the UAE for seven months on espionage charges he denies, and Ali Issa Ahmad, who was detained...
Tehran, April 23 (IANS) Iranian Foreign Minister Hossein Amir-Abdollahian and his counterpart of the United Arab Emirates (UAE) Sheikh Abdullah bin Zayed Al Nahyan have agreed to expand cooperation in various fields. During a phone call, Iran’s Amir-Abdollahian and UAE’s Sheikh Abdullah agreed to expand cooperation in various fields, including the private sector, Xinhua news...
DUBAI, July 29 (Reuters) – Dubai’s red-hot property market surged in the first half of the year as investors piled in, with Russians among the top five buyers as the emirate benefits from an influx of wealth in the wake of Western sanctions. The first half saw residential real estate transaction volumes up 60% with...
On 4th March 2022, the United Arab Emirates (UAE) was added to the list of jurisdictions under increased monitoring (Grey List) by the Financial Action Task Force (FATF). Grey Listing is typically applied to countries with gaps in their anti-money laundering (AML)/countering the financing of terrorism (CFT) regimes, but where commitments have been made for...
A London-based labor rights group says the migrant workers involved in Expo 2020 in Dubai are subjected to labor abuse and exploitation. STORY-LINE: The legions of workers who built Dubai’s extravagant Expo 2020 site and keep it running face exploitation, grim conditions and a wide range of labor abuses, according to a new report released...
Wealthy Russians are flocking to Dubai’s real estate market as Western sanctions prompt them to look at alternative destinations for their luxury property purchases, The Observer reported on Saturday. Individuals with money tied to Russian financial institutions have been purchasing properties and leasing apartments in Dubai, which has not imposed financial sanctions against Russia in the weeks...