European parliamentarians are questioning whether the United Arab Emirates should have been taken off the “gray list” of countries at risk of money laundering and terrorist financing, following revelations that Dubai property owners include a host of dubious characters like drug lords and sanctioned businessmen. In mid-May, OCCRP and more than 70 international media outlets...
On Friday 23 February, the Paris-based Financial Action Task Force (FATF) has removed the United Arab Emirates from its “gray list”. The move, critics say, has more to do with political considerations than with any real improvement in fighting money laundering on the part of the UAE authorities. The United Arab Emirates were first added...
When poor countries are forced to default on their foreign debt, as Ghana and Zambia have done, they pay a heavy price. Cut off from credit of any kind, spending on health, education and dealing with the damaging effects of climate change comes to a juddering halt. Countries in the West often plead with us...
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...
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...