ABU DHABI (Realist English). The UAE will remain a country where the accounts of Russian moneybags will be safe, the Qatari TV channel Al Jazeera reports.
Previously, the UAE, where 40 thousand Russian citizens lived, did not support the American resolution of the UN Security Council, which condemned Russia’s special military operation in Ukraine.
According to Kafiero, good relations with the government of Vladimir Putin is a priority for the UAE.
“As we speak, an alternative financial system is being created in which the FATF (Western Intergovernmental Group for the Development of financial measures to combat money laundering) does not matter much,” says Andreas Krieg, associate professor of Defense Studies Department at King’s College London.
In his turn, Stephen Zunes, a professor at the University of San Francisco, suggests that in case of pressure on the UAE, the administration of Joseph Biden will face strong resistance from both the Pentagon and influential representatives of the corporate America.
The Emirates is China’s largest trading partner in the Arab East. The UAE accounts for 28% of China’s total non-oil trade with the region. Two years ago, China surpassed the European Union as the main trading partner of the GCC (Cooperation Council for the Arab States of the Persian Gulf), and the UAE became a center for re-exporting Chinese goods to the Middle East and Africa. In the first half of 2021, China’s trade with Dubai alone grew by 30.7% year-on-year.