2023-09-20 15:36:59
Russia exported about 100 tons to the UAE last year, which is 15 times what the UAE previously imported from Russia, in addition to other historical UAE sources such as India, especially Mali (96 tons) and Ghana (81 tons).
This means that Dubai has become, perhaps, one of the largest importers of gold in the world, but also one of the largest exporters, as it exported 145 tons to Europe in 2022, specifically to Switzerland, according to Bloomberg.
What is striking about this news are two issues. The first is that the import of gold is done openly despite the Western sanctions on Russia, and the West’s pressure on the UAE, including placing its banks on the gray list, and recently sending a large delegation to prevent the UAE from exporting sensitive electronic materials to Russia. And monitoring its purchases of Russian oil…etc.
What is certain is that India and China are carrying out similar practices, but it is difficult for the West to pressure them, so it is expected that Western pressure on the UAE will increase soon.
The West may resort to new types of sanctions on small countries that benefit from Russia’s war on Ukraine. Here it should be noted that the UAE is perhaps the country that has benefited most in the world from this war, especially since it is also the residence of most of the rich Russians abroad.
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