UAE became Russia's safe haven for evading sanctions

Russian businesspeople and entrepreneurs have sought to move their businesses to Dubai to benefit from its global standing as a key financial hub. Similar to many Iranian businesses subject to Western sanctions, Russian businesses are using the UAE as a base to avoid such sanctions and continue their operations.

Wealthy Russians have been applying for the UAE golden visa scheme which enables applicants to gain long-term residency in the country conditional on investing $280 000 in a local company or an investment fund. The flocking of Russians to Dubai has meant that billions of potentially sanctionable dollars and euros have been transferred to the emirate.

The property market in the UAE has also been another key recipient of Russian funds. The UAE is also aspiring to be an industrial hub for some Russian factories struggling to access the global market due to sanctions, which would generate significant financial flows to the country.

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Bloomberg: Russia may face a longer and deeper recession as the impact of US and European sanctions spreads, handicapping sectors that the country has relied on for years to power its economy, according to an internal report prepared for the government.

Faced with war losses, Russian propagandists retreat to anger and patriotism

Russian state television pundits and officials for months painted Moscow’s invasion of Ukraine as a well-oiled “special military operation” that is methodically achieving its goals of “demilitarizing” and “denazifying” the Kyiv “regime.”

But the embarrassing rout of Russian forces from northeastern Ukraine in recent days sent a normally harmonious choir of Kremlin-friendly television shows and newspapers into a frenzy, struggling to explain to the audiences that they had been assuring of victory why Ukraine had recaptured more land than Russia took since April.

The result was the broadcast of unusually tense scenes to millions of Russian households, with some uncharacteristically blunt concessions.

Read the full story here.

Bloomberg: Russia has secretly funneled more than $300 million to foreign political parties and candidates since 2014 in an effort to influence elections in more than two dozen countries.

Putin’s bridge of dreams explodes in flames

It was a media extravaganza, Putin-style. At the lead of a small truck convoy, Russian President Vladimir Putin drove an orange dump truck flying Russian flags across a portion of the Crimean Bridge in 2018, proudly inaugurating a 12-mile colossus of steel and concrete connecting the Crimean Peninsula he illegally annexed from Ukraine to mainland Russia. At the end of the ride, he was met with cheers and applause.

Even during the reign of the Czars, “people dreamed of building this bridge,” Putin boasted. “Finally, thanks to your hard work and talents, this project, this miracle, has come true.”

Early Saturday, a giant explosion sent a fireball rolling across Putin’s crown jewel thanks, it could be said, to Putin’s own hard work in launching an invasion of Ukraine in February. Portions of the bridge, among the longest in Europe, could be seen sinking in the water.

Read the full story here.

The Wall Street Journal о боевом применении Украиной ракетных комплексов М142 HIMARS

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Russia is grabbing men off the street to fight in Ukraine

Police and military officers swooped down on a Moscow business center this week unannounced. They were looking for men to fight in Ukraine — and they seized nearly every one they saw. Some musicians, rehearsing. A courier there to deliver a parcel. A man from a Moscow service agency, very drunk, in his mid-50s, with a walking disability.

“I have no idea why they took him,” said Alexei, who, like dozens of others in the office complex, was rounded up and taken to the nearest military enlistment office, part of a harsh new phase in the Russian drive.

In cities and towns across Russia, men of fighting age are going into hiding to avoid the officials who are seizing them and sending them to fight in Ukraine.

Police and military press-gangs in recent days have snatched men off the streets and outside Metro stations. They’ve lurked in apartment building lobbies to hand out military summonses. They’ve raided office blocks.

Read the full story here.

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