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Traders of Russian commodities are rushing to set up businesses in Dubai as Switzerland makes it increasingly challenging for them to deal with Moscow.
"Middle Eastern and Eastern jurisdictions will gain in importance relative to the rather euro-centric situation of the commodities business up to now."
Russian firms departing Geneva for the UAE’s business capital as sanctions force a strategy rethink
Ratcheting up of sanctions is promoting a migration of Russian businesses to Dubai.
By Bloomberg News (Bloomberg) — In early March, as the US and its allies unleashed a wave of sanctions on Russia, President Joe Biden stood in the White House and said...