Featured UAE

As U.S. Cracks Down on Iran’s Oil Sales, It Calls Out an Ally

On a scorching June day, a senior U.S. official arrived in the United Arab Emirates with a clear message: The Trump administration intended to tighten the screws on Iran through sanctions targeting its oil sales. “We are going to increase our sanctions on Iran and continue our foreign policy,” Brian… Read More

Oil Tankers’ Tracking Signals Are Vanishing in the Strait of Hormuz

Oil tanker owners are finding a way to reduce the risks of navigating the Strait of Hormuz, the world’s most important — and lately most dangerous — energy chokepoint: vanish from global tracking systems. Copying from Iran’s own playbook, at least 20 ships turned off their transponders while passing through… Read More

Going Dark and Fake Voyages: The Tricks Used to Dodge Trade Sanctions

As the U.S. looks to enforce sanctions aimed at halting trade with states such as Iran and Venezuela, there’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Ships… Read More
24th June 2019
The United Arab Emirates Central Bank is focusing on the real estate sector as part of its work to combat money laundering in the country, an official said on Sunday. The UAE has been tightening its financial regulations to fight the perception among some foreign investors that it is a… Read More
18th June 2019
Two individuals accused of playing prominent roles in the sprawling 1Malaysia Development Bhd. scandal have been convicted of financial crimes in Abu Dhabi, The Wall Street Journal reported Sunday. The Abu Dhabi Criminal Court sentenced Khadem al Qubaisi, a United Arab Emirates citizen who previously headed the International Petroleum Investment Company… Read More
14th May 2019
The U.S. Commerce Department said on Monday it banned six Chinese technology entities, one Pakistani firm and five based in the United Arab Emirates from exporting sensitive U.S. technologies and other goods. In a statement, the Commerce Department said four of the Chinese firms, also with offices in Hong Kong,… Read More
25th April 2019
Billions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found. Customs data shows that the UAE… Read More
9th April 2019
Qatar said on Monday it had filed lawsuits against three banks, accusing them of using what it called overseas currency manipulation to sabotage its economy in the wake of an Arab boycott against the country in 2017. The cases, filed in London and New York, name Luxembourg-based Banque Havilland, the… Read More
15th March 2019
The European Union’s decision to include the United Arab Emirates on its blacklist of tax havens was caused by “lack of communication” between the EU and the UAE government, the head of the UAE Banks Federation said. European Union governments updated a blacklist of tax havens this week, adding the… Read More
14th March 2019
The European Union has published its updated list of non-cooperative jurisdictions for tax purposes, dubbed the tax haven blacklist, adding ten jurisdictions to the existing five states. The new additions include Bermuda and the UAE. “Those jurisdictions did not implement the commitments they had made to the EU by… Read More
31st October 2018
The United Arab Emirates has passed a law to combat money laundering and terrorism financing, it said on Tuesday, as it aims to bring its rules into line with international standards on combating illicit money flows. The law, which is in line with the requirements and recommendations of the Financial… Read More
28th September 2018
South Africa has signed an extradition treaty with the United Arab Emirates, the justice minister said on Thursday, raising the prospect of the Gupta brothers, friends of former president Jacob Zuma, returning to face corruption charges. The Indian-born brothers – Ajay, Atul and Rajesh – have been accused of using… Read More
9th August 2018
AP — The United States announced Wednesday it will impose new sanctions on Russia for illegally using a chemical weapon in an attempt to kill a former spy and his daughter in Britain earlier this year. The new sanctions, to be imposed later this month, come despite President Donald Trump’s… Read More