Russia and Ukraine: Rich Russians turn to Dubai to escape Western sanctions

  • Samir Hashemi
  • Middle East business and trade correspondent

From the United Arab Emirates

photo released, Getty Images

Dubai has emerged as a safe haven for wealthy Russians who want to avoid Western sanctions imposed on their country after the war against Ukraine.

In unprecedented numbers, billionaires and Russian entrepreneurs have arrived in the United Arab Emirates, according to the BBC’s heads of companies.

Russians’ purchases of real estate in Dubai rose by 67 percent in the first three months of 2022, according to a report.

The UAE did not impose sanctions on Russia, nor did it criticize its invasion of Ukraine, in addition to providing non-sanctioned entry visas to Russians, unlike many Western countries that have taken restrictive measures against these Russians. to take.

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