Thursday 28 April 2022

UAE-Russia Relations: Sheikh Mansour Helps Usher More Russian Tycoons to #UAE - Bloomberg

UAE-Russia Relations: Sheikh Mansour Helps Usher More Russian Tycoons to UAE - Bloomberg


Outside the United Arab Emirates, Sheikh Mansour bin Zayed Al Nahyan is best known as owner of English football champion Manchester City. At home, he’s deputy prime minister and a powerful member of the royal family.

But Sheikh Mansour also has a behind-the-scenes role that’s become increasingly important in recent months: Helping manage relationships with wealthy Russians looking to move money into the UAE, according to several people familiar with Abu Dhabi’s engagement with Russians, who requested anonymity as the information isn’t public.

While Sheikh Mansour has long been involved in cultivating UAE-Russia relations, the importance and complexities of that position have grown since Russia’s invasion of Ukraine, the people said.

Even as the U.S., EU and other countries have blitzed Russia with thousands of new financial restrictions, making it the world’s most-sanctioned nation, the UAE hasn’t imposed any. Officials in the Middle Eastern nation have taken the stance that Abu Dhabi respects international law but isn’t required to follow measures implemented by specific countries and that the UAE has the right to adopt its own policies, several people familiar with their thinking said.

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