For its failure to combat the flow of "dirty money"... Activists and politicians call for the UAE to be punished

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by the British newspaper, The Observer, stated that activists and politicians called for the UAE to be included in the European blacklist because of its failure to combat the flow of "dirty money" and the imposition of sanctions on the Russian wealthy.

The report quoted British banker Bill Browder - who lived for many years in Moscow - as saying that Dubai remained a safe place for dirty money, and it should now be placed on financial blacklists and its leaders should not be welcome.

Browder said secondary sanctions should be imposed on the UAE unless it provides assistance to countries that seek the assets of these wealthy people.

Threat to the global financial system

Last month, members of the European Parliament wrote to EU Financial Services Commissioner Mered McGuinness urging him to include the UAE in the list of countries that pose significant threats to the financial system.

The report quoted Danish member of the European Parliament, Kira Marie Peter Hansen, as saying that the UAE was a safe haven for criminal proceeds, corrupt officials and the Russian rich, adding, "We want to put the UAE on a blacklist, especially in light of the large number of wealthy Russian elites who use the state to avoid sanctions."

The report stated that Emirati officials did not respond to a request from the newspaper for comment.

He said that the UAE has become a haven for luxury yachts, private planes and "dirty money" since the invasion of Ukraine, without taking any action, and it has emerged as a major haven for wealthy Russians fleeing the impact of global sanctions, as these planes and yachts are heading to it after the attack on Ukraine.

The most expensive in the world

He added that it became clear last week that one of the most expensive private planes in the world was stopped 3 months ago, belonging to former Chelsea Football Club owner Roman Abramovich, in Dubai.

The US Department of Justice referred to the last recorded flight of a Boeing 787 Dreamliner - worth $350 million from Moscow to Dubai - on the fourth of last March in the legal documents that it applied for for its confiscation.

A US judge also authorized the seizure of Abramovich's second Gulfstream aircraft in Moscow, although there is no possibility that it will be seized immediately.

buying real estate

The Observer indicated that US FBI investigators - like many others who seek the assets of wealthy Russians - found that the path often leads to the UAE, with a significant increase in Russians buying real estate there, amounting to 67%.

She stated that the UAE was placed on the "grey list" by the global watchdog (the Financial Action Task Force) "in March of last year due to deficiencies in its measures to combat money laundering and other financial crimes, and there are now calls for its inclusion in similar international lists.

The newspaper pointed out that officials in the UAE do not see that they are required to implement the sanctions imposed by other countries, but they insist that they are working to address the concerns raised by the Financial Action Task Force, and the country has signed a number of mutual legal assistance and extradition agreements with other countries, including the United States. On February 24, the same day Russia entered Ukraine.

A test of UAE commitment

The newspaper expected that the fate of Abramovich's private plane would now be a test of the Emirates' commitment to international cooperation.

Karen Greenaway, a lawyer and former FBI agent who specializes in illicit financial flows, said US officials would certainly seek the help of the UAE authorities regarding the plane linked to Abramovich.

The report quoted the Financial Times as saying that a "super yacht" had lost contact on ocean tracking systems, the £240 million yacht "A", which is linked to billionaire Andrey Melnichenko, and was spotted in a port in the Emirate of Ras Al Khaimah in the United Arab Emirates.

The super yacht "Madame Joe" has also been linked to Andrei Scotch, a billionaire member of the Russian parliament who is under sanctions by the United States, Britain and the European Union.

This luxury yacht is also subject to US sanctions, but its location is unknown, and its last appearance was reported in Dubai on the sixth of last March.