DH Latest NewsDH NEWSLatest NewsNEWSGulfInternationalBusinessSpecial

Oil sanctions against Iran, Russia, and Venezuela are being canceled by the UAE

Following the Ukraine conflict, the EU sanctioned Russian oil. The US has sanctioned Venezuelan and Iranian oil for alleged support for terrorism and anti-US powers. But nothing has stopped the sanctioned oil from reaching European ports. According to reports, the UAE is lifting all Western sanctions against Russia, Iran, and Venezuela.

According to Business Insider, fuel oil shipments from Iran, Russia, and Venezuela are being disguised at a trading hub in the UAE, specifically the Fujairah trading hub. Interestingly, the oil offered to buyers in Fujairah matches Russian characteristics such as sulphur content.

The shipments, however, are labelled differently, and the UAE is careful not to reveal the origin of the oil. Simply put, nations that desperately need Russian, Iranian, and Venezuelan oil but do not want to risk US retaliation can approach the UAE and buy oil without fear of retaliation.

Overall, the UAE serves as a massive washing machine for ‘dirty’ and sanctioned Russian, Iranian, and Venezuelan oil. The amount of Russian oil used in ‘dark’¬†ship-to-ship transfers, for example, has risen dramatically in recent months. By turning off their location data, Russian oil tankers have also vanished from tracking systems near Portugal’s Azores islands. The UAE is most likely importing the sanctioned oil. It is believed that UAE oil is being shipped to Europe as well as countries such as China, India, and Turkey. In the past, the UAE has openly welcomed Russian oligarchs and supported Russia’s actions in Ukraine by assisting it in evading Western sanctions.

UAE’s beef with the Biden regime;
First and foremost, why is the UAE so eager to punish the US and the Biden administration? The UAE has long been a US ally, relying on the US security umbrella to counter Iranian security threats. The Trump administration went to great lengths to strengthen economic and strategic ties with the UAE in order to isolate Iran and appease Israel. During his presidency, the Abraham Accords came to fruition.

But take a look at what Biden has done to this relationship. He first halted defence sales to the UAE before placing the country on the FATF’s grey list. Understandably, the UAE saw it as an attack on its economy, as it is heavily reliant on tourism. The inclusion of the UAE on the grey list is said to have had a significant impact on the UAE’s tourism industry, making it difficult to obtain cheaper credits. The inclusion of Abu Dhabi on the list completely irritated it, prompting it to shift its foreign policy away from Washington’s influence.

UAE establishing a global anti-US alliance
It’s payback time for the UAE. On the one hand, the country is fostering closer defence ties with France. On the other hand, it is uniting all anti-US forces on the global stage. Venezuela, Iran, and Russia are all staunch US foes. By assisting these countries in selling their oil abroad, the UAE has launched an economic war against the United States.

The UAE is also working to normalise its diplomatic relationship with Iran. The United Arab Emirates (UAE) is set to send its ambassador, Saif Mohammed Al Zaabi, to Tehran to reestablish diplomatic ties with Iran after a 6.5-year hiatus. Because the UAE is a close Russian ally, Russia will easily gain control of global energy supplies via the UAE. This will only further strangle Europe and the US.


Post Your Comments

Back to top button