The United States restricted trade with five companies on Wednesday that it said help produce and procure drones for use by Russia in Ukraine and by Iran-backed Houthis in Red Sea shipping attacks. The companies from Russia and China were among 11 additions to the Commerce Department’s Entity List, which means suppliers need licenses before...
Last September, I had argued why “a war of arms and a peace of commerce cannot co-exist”. This is a follow up to that and events of the last 2 years sadly reinforce the point. With Russia’s GDP (troublingly) growing by 3.6% in 2023, Putin is overseeing the fastest-growing G7 economy with unemployment at an...
Civil society organisations at the World Trade Organization (WTO) meeting in the United Arab Emirates this week have criticized restrictions on their participation, including alleging that some of their members had been briefly detained at the talks. Our World Is Not For Sale (OWINFS), a network of civil society groups, said on Wednesday it had...
The Biden administration said on Friday it has imposed new trade restrictions on 93 entities from Russia, China, Turkey, the United Arab Emirates, Kyrgyzstan, India and South Korea for supporting Russia’s war effort in Ukraine. The action, one day before the second anniversary of Russia’s invasion of Ukraine, essentially bans U.S. shipments to the targeted...
Some Russian banks appear to have maneuvered around a ban on shipping dollars and euros to the country by trading gold in the United Arab Emirates and Turkey, according to research from a financial-intelligence company. The sanctions on export of banknotes were introduced after the Kremlin’s invasion of Ukraine. The report compiled by Sayari found...
“The UAE Has Become Russia’s Main Trading Partner In The Arab Region” “Russia’s policy in the Middle East in 2023 was particularly active. Moscow managed to improve relations with Arab countries and Iran, strengthen dialogue with Turkey and maintain normal relations with Israel. All this was the result of strict adherence to the two diplomatic...
His presence presented a symbolic split screen: Global climate talks in one frame, Putin’s oil negotiations in the other. DUBAI, United Arab Emirates — While everyone else was trying to rescue the world from climate catastrophe, Vladimir Putin was negotiating Russia’s oil exports down the road. As the COP28 climate talks in Dubai reached their...
Acording to British academic Matthew Hedges, the United Arab Emirates (UAE) has deepened its friendship with the Russian Federation since Russia invaded Ukraine. A fact that taken together with the UAE joining the BRICS alliance, may prove to be a major test of the strength of the West to maintain hegemony over the world order. Just in...
Russia became the United Arab Emirates’ top source of gold last year after Western countries imposed sanctions on supplies following the Kremlin’s invasion of Ukraine. The UAE last year imported 96.4 tons of gold from Russia, more than any other country, according to the United Nations’ Comtrade database. That’s roughly a third of Russia’s annual...
EU Chief Presses UAE President on Russia Sanctions Evasion. The European Union’s top official met the leader of the United Arab Emirates on Thursday for talks on topics including the export of sanctioned goods from the Gulf state to Russia, according to people familiar with the matter. Ursula von der Leyen described her discussions with UAE...