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Russia Today
2 days ago
- Business
- Russia Today
From missiles to mega-deals: Russia is the UAE's sovereign choice
On August 7, the president of the United Arab Emirates, Mohammed bin Zayed Al Nahyan, paid a working visit to Moscow, during which he held extensive talks with Russian President Vladimir Putin. The meeting, which lasted approximately three and a half hours, underscored the strategic nature of the bilateral relationship and the mutual commitment to its continued strengthening. President Mohammed bin Zayed reaffirmed the UAE's readiness to keep 'building bridges' with Russia, while President Putin highlighted the 'special significance' of diplomatic ties between the two nations, noting a marked increase in mutual investment flows. On the sidelines of the talks, two significant agreements were signed. The first – an agreement on trade in services and investment – was concluded by the economy ministers of the two countries, Maksim Reshetnikov and Thani bin Ahmed Al Zeyoudi. The second, a memorandum of understanding in the field of land transport, was signed by Russian Transport Minister Andrey Nikitin and UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei. These agreements reflect the steady trend toward deepening economic and infrastructure cooperation. The relationship between Russia and the UAE rests on a robust legal and institutional framework that has been evolving since the early 1990s. Among the cornerstone documents are agreements on trade, economic and technical cooperation, military-technical collaboration, investment protection, nuclear energy cooperation, extradition, and legal assistance. Of particular importance are the Declaration on Strategic Partnership signed in 2018 and the agreement on the elimination of double taxation concluded in February 2025. The Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation, active since 1994, plays a key coordinating role in bilateral affairs, and the Russian-Emirati Business Council has been operating since 2006. Economic cooperation between the two countries has reached an unprecedented level. The UAE is Russia's leading trading partner in the Arab world, with bilateral trade reaching a record $11.8 billion in 2023 and growing by 80% in the first half of 2025 compared to the same period last year. Russia has made significant investments in the UAE economy, with total investments exceeding $25 billion, while Emirati direct investments in Russia have reached $17 billion. Notable joint projects include investment company Mubadala's participation in Russian oil assets, the construction of the Tawila-Fujairah gas pipeline, involvement in the Barakah nuclear power plant, and cooperation with Rosatom on the supply of enriched uranium. Military-technical cooperation remains a key area of engagement. Over the years, the UAE has procured Russian-made Pantsir-S1 air defense systems, Kornet anti-tank missiles, BMP-3 infantry fighting vehicles, and related munitions, while also modernizing previously supplied equipment. The UAE's continued interest in Russian defense technologies is regularly reaffirmed at international exhibitions such as IDEX. Collaboration is also expanding in high-tech sectors. In 2019, Roscosmos organized the flight of the first Emirati astronaut to the International Space Station, and in 2023, the PHI-Demo satellite was launched from the Vostochny Cosmodrome. In 2021, the two countries signed a cooperation agreement on the peaceful exploration of outer space. The cultural, humanitarian, and educational dimensions of the Russia-UAE relationship are also gaining momentum. In 2024, a branch of Plekhanov Russian University of Economics was opened in Dubai, and a Center for International Cooperation began operating at the Primakov Gymnasium in Moscow Region. Plans are also underway to establish a 'Russian University' in the UAE. In June 2024, the two countries signed a cooperation agreement in the field of sports. Tourism plays a vital role in bilateral ties. Since the introduction of visa-free travel between Russia and the UAE in 2018, tourist flows have significantly increased. In 2024 alone, 1.47 million Russian citizens visited the Emirates, and the number of Emirati tourists traveling to Russia also saw noticeable growth. The UAE traditionally pursues a balanced and neutral foreign policy, including on the issue of the Ukraine conflict, where it consistently advocates for a diplomatic resolution. The country has repeatedly acted as a mediator in humanitarian efforts, including prisoner exchanges between Russia and Ukraine – involving more than 3,700 individuals – and, notably, a prisoner swap between Moscow and Washington in April 2025. Frequent high-level visits underscore the close and trusting nature of Russian–Emirati relations. Putin has visited the UAE three times during his presidency – in 2007, 2019, and 2023. Mohammed bin Zayed Al Nahyan has traveled to Russia both as crown prince and as president, with visits in 2022, 2023, 2024, and 2025. These visits have featured substantive negotiations, participation in multilateral summits (including BRICS), and a continued deepening of his personal rapport with Putin. He has consistently voiced support for Russia's efforts to promote a multipolar world order, particularly through platforms such as BRICS and the Shanghai Cooperation Organization (SCO). In recent years, relations between Moscow and Abu Dhabi have acquired a truly strategic character, marked by deep mutual understanding and alignment on a broad range of both regional and global issues. The UAE and Russia are steadily expanding their political dialogue and strengthening bilateral cooperation that goes far beyond pragmatic economic interests. One of the central pillars of their cooperation is joint engagement in resolving Middle Eastern conflicts. The UAE is actively involved in diplomatic efforts to achieve lasting peace in Libya, coordinating its steps with Moscow. Both countries advocate for political settlement and inclusive national dialogue among the conflicting parties, while sharing common positions in supporting Libya's territorial integrity and opposing foreign interference that undermines the country's internal stability. Equally important is their coordination on the Syrian settlement. According to several credible sources, Abu Dhabi – in tandem with Riyadh – has served as a mediator and trusted communication channel in the process of reviving dialogue between Moscow and the Syrian government in Damascus. This mediating role reflects the high level of trust between the UAE and Russia, as well as the Emirates' commitment to advancing regional stability with Russia's active involvement. Abu Dhabi's foreign policy strategy is rooted in a principle of multi-vector diplomacy. Within this context, Russia is regarded not merely as an important partner, but as one of the few remaining global powers capable of playing an independent and constructive role in resolving complex international crises. The UAE values Russia's ability to act consistently, independently of short-term pressures, and to focus on long-term interests in regional security amid evolving global challenges. Moreover, the UAE's aspiration to deepen its ties with Russia reflects a strategic commitment to diversifying its foreign policy and economic partnerships. For Abu Dhabi, strengthening its relationship with Moscow enables the pursuit of a more balanced foreign policy – one that is not limited to exclusively Western orientations. This approach allows the Emirates to maintain flexibility and independence amid global turbulence, positioning their partnership with Russia as a vital instrument for regional stability and for enhancing their own standing within the international system. Another key factor drawing Russia and the United Arab Emirates closer together is their shared vision of the need to reshape the global order – one in which the role of non-Western states is defined more equitably and aligned with their true weight and potential. Both countries believe that the current architecture of international relations, shaped in the post–Cold War era, no longer reflects the balance of power and interests in the 21st century. From the perspectives of Moscow and Abu Dhabi, the Western monopoly on interpreting norms, priorities, and 'correct' development models has become a source of global imbalances, crises, and conflicts – obstructing sustainable development and depriving much of the world of a genuine sovereign choice. Russia consistently advocates for the creation of a multipolar world where no single power or bloc can impose its will on the rest of humanity. In this context, the UAE's position largely aligns with that of Russia. Abu Dhabi increasingly recognizes that the continuation of Western global hegemony – based on unilateral force, sanctions, and the imposition of 'universal' values – hinders regional autonomy and the emergence of new centers of power. The Middle East, long viewed merely as an arena for foreign interests, is now confidently asserting itself as a sovereign actor in global affairs, capable of influencing key international processes. As one of the region's most pragmatic and forward-looking players, the UAE understands that unlocking the full economic, political, and civilizational potential of the Middle East requires a transition to a more inclusive and balanced international system. Such a system must reject destructive hegemony and double standards, and instead recognize the legitimacy of diverse development paths – free from coercion, interference, or ideological dictates. It is within this framework that the UAE's decision to join the BRICS format should be seen. For Abu Dhabi, this move is not merely a symbolic foreign policy gesture, but a reflection of a deeper strategic calculus. Within BRICS, the UAE sees the potential for a new model of global leadership – multilateral, balanced, and rooted in dialogue, development, and respect for sovereignty. Participation in this bloc enables the Emirates not only to deepen ties with key powers such as Russia, China, and India, but also to contribute to building alternative mechanisms of global governance that reflect the interests of the majority, rather than the privileges of the few. Thus, the strategic partnership between Russia and the United Arab Emirates is built not only on their shared approach to global transformation, but also on a strong mutual interest in realizing the full spectrum of bilateral potential. Both countries consistently demonstrate their readiness to advance cooperation on the basis of equality, mutual respect, and tangible benefit. Given the high level of political trust and the growing depth of strategic dialogue, it is safe to say that Russian–Emirati relations will continue to evolve along two key trajectories. On one hand, they are working together to shape a new world order in which both Russia and the UAE act as independent and active global players united by a common vision for a more just and balanced system of international relations. On the other, they are steadily expanding practical cooperation across a wide range of fields – including trade, investment, energy, logistics, advanced technologies, agriculture, tourism, and culture. Both capitals are committed to pursuing concrete initiatives that will lay the foundation for a resilient economic architecture capable of delivering meaningful benefits to both sides. Of particular importance is collaboration in advanced sectors – from the development of peaceful nuclear energy and renewables to digital technologies and innovative manufacturing. At the same time, growing attention is being given to humanitarian and educational exchanges, including at the level of academic and cultural institutions. Under these conditions, the relationship between Moscow and Abu Dhabi is evolving into more than just a component of regional or global diplomacy – it is maturing into a comprehensive alliance that reflects the depth and maturity of their mutual interests. In the long term, this will enable both countries not only to adapt to a changing world, but also to help shape it – in line with their sovereign priorities and long-term strategic goals.
LBCI
24-06-2025
- Politics
- LBCI
Iran says not seeking nuclear weapons but will assert 'legitimate rights'
Iran's President Masoud Pezeshkian said Tuesday that his country was not seeking nuclear weapons but will continue to defend its "legitimate rights" as a ceasefire took hold with Israel. "We expect you to explain to them, in your dealings with the United States, that the Islamic Republic of Iran is only seeking to assert its legitimate rights," Pezeshkian said during a phone call with United Arab Emirates President Mohammed bin Zayed, according to the official IRNA news agency. He added that Iran was "ready to resolve the issues... at the negotiating table." AFP
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First Post
24-06-2025
- Politics
- First Post
Iran not seeking nuclear weapons but won't back down on 'legitimate rights', says Iran President Pezeshkian
'We expect you to explain to them, in your dealings with the US, that the Islamic Republic of Iran is only seeking to assert its legitimate rights,' Pezeshkian said during a phone call with UAE President Mohammed bin Zayed. read more Iranian President Masoud Pezeshkian on Tuesday said that Iran is not pursuing nuclear weapons but will continue to defend its 'legitimate rights,' as a fragile ceasefire between Iran and Israel took hold after 12 days of fighting. 'We expect you to explain to them, in your dealings with the United States, that the Islamic Republic of Iran is only seeking to assert its legitimate rights,' IRNA news agency quoted Pezeshkian as saying during a phone call with United Arab Emirates President Mohammed bin Zayed. STORY CONTINUES BELOW THIS AD Pezeshkian said that Israel and the US 'cannot impose unjust aspirations by force'. 'The Islamic Republic of Iran was forced into the military conflict to defend itself, and I hope that we will never be forced to fight again,' Pezeshkian said. 'It has never sought to acquire nuclear weapons and does not seek them,' he was quoted as saying by the official IRNA news agency, adding that Iran was 'ready to resolve the issues… at the negotiating table'. The conflict between Israel and Iran, two longstanding regional adversaries, escalated with Israeli strikes targeting Iranian nuclear facilities and killing several nuclear scientists as well as senior military officials. On Sunday, Israel's close ally, the United States, carried out its own unprecedented strikes on key Iranian nuclear sites at Fordow, Isfahan, and Natanz. The hostilities erupted just two days before Iran and the U.S. were scheduled to resume talks over Tehran's nuclear program. At the center of the dispute is Iran's uranium enrichment — a process Tehran insists is a 'non-negotiable' right, while Washington has labeled it a 'red line.' With inputs from agencies
The National
19-06-2025
- Business
- The National
UAE foreign direct investment hit $45bn in 2024 on economic diversification boost
The UAE, the Arab world's second-largest economy, received Dh167 billion ($45.5 billion) in foreign direct investment last year, and the country has its sight firmly set on achieving its aggregate FDI target of Dh1.3 trillion by 2031. The 48 per cent annual FDI rise in 2024 is a 'international vote of confidence in the UAE's economy', Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on X on Thursday, citing a report issued by the UN Conference on Trade and Development. 'The UAE accounted for 37 per cent of the total foreign investment flows in the region … (Out of every $100 that comes as foreign investment to the region, $37 of it goes to the UAE),' he said. The country, also ranked second globally in the number of new foreign direct investment projects, after the US, he added. Last November, the UAE launched a strategy to double its cumulative FDI to Dh1.3 trillion in the next six years as it continues to push to diversify its economy. The investment strategy launched at the annual meetings of the UAE government in Abu Dhabi, also aims to triple the cumulative FDI balance to Dh2.2 trillion by 2031, and targets key sectors such as advanced manufacturing and renewable energy. 'We have a clear development agenda drawn up by Mohammed bin Zayed. We have a unified team committed to his instructions, and we have a people united around their leadership. This is the secret to our success,' Sheikh Mohammed said. 'Our message from the UAE: development is the key to stability … and the economy is the most important policy.'
Khaleej Times
29-05-2025
- Business
- Khaleej Times
Economy Middle East Summit 2025, gathers public, private sectors to drive sustainable growth
Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence has officially opened the Economy Middle East Summit 2025, which convened high-level public and private sector leaders to discuss collaborative solutions for sustainable economic transformation. The event was held at Abu Dhabi Global Market (ADGM) under the theme 'Bridging Sectors, Building Economic Growth', and brought together more than 1,500 participants, including policymakers, business leaders, global investors, and technology pioneers. In his opening address, Sheikh Nahayan welcomed delegates and emphasised the summit's timely focus on collaboration and future-readiness. He said: "It is a deep personal pleasure to join you at the second edition of the Economy Middle East Summit. We come together as governments, businesses, and stakeholders to share knowledge, forge partnerships, and imagine new possibilities for the future of our economies and our region." 'Today, we gather at a critical moment that demands clarity of vision, boldness of action, and depth of partnership. The global economic landscape is undergoing profound transformation — driven by shifts in trade, geopolitical realignments, technological revolutions, and societal expectations. These changes offer rare windows of opportunity,' he added. He affirmed the UAE's proactive approach under the leadership of President Sheikh Mohammed bin Zayed Al Nahyan, saying: 'We are fully committed to economic diversification, innovation, and global competitiveness. From smart infrastructure and AI to sustainable finance and forward-looking education, we are building the pillars of future growth.' Sheikh Nahayan went on to stress regional integration: 'Now is the time to transform our regional ties into corridors of collaboration and opportunity. We must harmonise digital trade regulations, invest in green infrastructure, nurture entrepreneurs, and align our innovation and education systems. By working together, we can ensure that the Middle East is not only resilient — but energised with new possibilities.' 'Bridging Sectors, Building Economic Growth' is not just a slogan — it is a mission. Let us invest boldly, collaborate openly, and build a sustainable, inclusive economic future for our region,' he concluded. Abdulla bin Touq Al Marri, UAE Minister of Economy, delivered the opening remarks and shared the UAE perspective on navigating the global economy. 'The global economic landscape in 2025 is marked by heightened uncertainty. The IMF's latest World Economic Outlook projects global growth at 2.8 per cent and this year at 3 per cent next year,' the minister said. Al Marri explained that the slower than usual growth is primarily due to escalating trade tensions and persistent policy uncertainty. He also mentioned the resurgence of protectionist policies, most notably the recent US tariff hikes, which have disrupted trade flows, eroded business confidence, and delayed investments. He added: 'Our approach is rooted in the belief that economic prosperity is achieved through cooperation, not isolation. By building bridges, we aim to create a more inclusive and sustainable global economy. Our Comprehensive Economic Partnership Agreements (CEPAs) with countries across Asia, Europe, and Africa reflect this commitment, expanding our market access, strengthening supply chains, and accelerating investment flows. These agreements have not only diversified our economic partnerships but have also bolstered our resilience against external shocks. As a result, we expect the impact of recent US tariffs on the UAE economy to remain limited.' Salem Al Darei, CEO of ADGM Authority said: 'As an official partner of the Economy Middle East Summit, we are pleased to have been part of this platform that brought together influential voices from across the region. The event not only provided an invaluable opportunity for industry experts and leaders to engage in meaningful discussions, but also an opportunity for the ecosystem to listen to and connect on matters that are important for fostering innovation and driving sustainable economic growth.' "ADGM remains committed to contributing towards a prosperous and sustainable economy by fostering innovation, enabling business growth, and strengthening collaboration between public and private sectors. Through strategic initiatives like these, ADGM continues to play a vital role in shaping the region's economic future," he added. A high-profile panel featuring Dr Mahmoud Mohieldin, the UN special envoy on Financing the 2030 Agenda; Rashed Al Blooshi, undersecretary of the Abu Dhabi Department of Economic Development; and Safaa El Tayeb El-Kogali, country director for the GCC, World Bank, discussed the world's economic landscape, highlighting key issues that affect global trade, noting that the global economy's order which has been in place for decades, is now changing. The summit featured an in-depth analysis of the UAE's investment ecosystem, with experts from Visa, the Abu Dhabi Investment Office (ADIO) and the Multiply Group discussing trade and investment opportunities across key sectors. The panel shed light on the growing adoption of e-commerce and mobile commerce in a rapidly evolving digital landscape. A related panel on the financial services sector featured speakers from Wio Bank, Finstreet and the Financial Services Regulatory Authority of ADGM who explored the forces reshaping the industry, from digital innovation and regulatory developments to shifting customer expectations and regional growth. Technology continues to be a major conduit for enabling smart cities to thrive and enhancing living standards across the region, but also in transforming the mobility of people and goods as well as in transitioning to a greener and sustainable economy. Major stakeholders and thought leaders in this field – from e& and Mercedes-Benz to Siemens and Mubadala – shared optimism on the region's path to technological adoption and innovation. The experts also examined innovative approaches to decarbonising power systems, enhancing water and energy efficiency, and building infrastructure that supports long-term environmental and economic goals. Joe Chidiac, publisher of JC Media Group and organisers of the summit, said: 'As we venture into today's journey of dialogue and discovery, I challenge each one of you to embrace the spirit of innovation that has been the hallmark of the UAE and its capital, Abu Dhabi. The partnerships formed here, the ideas exchanged, and the commitments made will ripple beyond these walls to shape economies, empower communities, and create prosperity for generations to come. Together, let us bridge sectors and build not just growth, but a legacy of sustainable economic excellence.'
