US President Joe Biden on Monday said Russia had "some responsibility" to address a ransomware attack that crippled the Colonial fuel pipeline and that he would seek global co-operation to battle similar hacks.
Mr Biden stopped short of blaming the Kremlin for the Friday attack, but said “there’s evidence” the hackers or the software they used are in Russia.
“They have some responsibility to deal with this,” he said on Monday.
“My administration will be pursuing a global effort of ransomware attacks. We have efforts under way with the FBI and Department of Justice to disrupt and prosecute ransomware criminals."
Earlier, Anne Neuberger, deputy national security adviser for cyber and emerging technologies, said the government was “actively engaged” with Colonial, but that the company had not asked for federal assistance with its cyber security.
Ms Neuberger said the FBI was investigating the ransomware used in the attack since October.
“Transnational criminals are most often the perpetrators of these crimes, and they often leverage global infrastructure and global money-laundering networks,” she said.
Ms Neuberger said there was a need for an international campaign to combat ransomware.
“To combat the exploitation of virtual currencies that are often used for payment and ransomware, the US Treasury has also been leading international efforts, including driving development and adoption of virtual assets standards,” she said.
But Ms Neuberger said the US had no advice to victims of the attacks about whether they should pay ransom.
The attacks are known as “ransomware” because the hackers typically ask for money in exchange for restoring control of companies’ systems.
“We recognise that victims of cyber attacks often face a very difficult situation and they have to just balance, often, the cost benefit when they have no choice with regard to paying a ransom,” Ms Neuberger said.
She said that “at this time” the hackers were considered “a criminal actor".
“Our intelligence community is looking for any ties to any nation-state actors,” Ms Neuberger said.
The Colonial pipeline has not been damaged and can be brought back online “relatively quickly", deputy national security adviser Elizabeth Sherwood-Randall said.
“Right now, there is not a supply shortage."
The pipeline was idle for the third consecutive day on Monday, as fuel suppliers increasingly worry about the possibility of petrol and diesel shortages across the east coast of the US.
Colonial Pipeline said on Sunday that it was still working on a plan to restart the nation’s largest fuel pipeline and would when it was “safe to do so, and in full compliance with the approval of all federal regulations".
The company said on Monday that it expected the pipeline to be “substantially” back in operation by the end of the week.
The attack came as the energy industry braced for increased demand from summer travellers and the loosening of Covid-19 restrictions nationally.
The White House said on Sunday that it had launched an inter-agency working group to address the breach, including planning for options to lessen the effects on the US energy supply.
The Department of Energy and the FBI said they had been in contact with Colonial Pipeline.
Mr Biden can invoke emergency powers to keep fuel flowing.
On Sunday, he extended the time delivery drivers can spend behind the wheel when carrying fuel, “to avoid disruption to supply”, the Federal Motor Carrier Safety Administration said.
Mr Biden can also waive the Jones Act, which requires ships to be built and flagged in the US and crewed by American workers to transport goods between US ports.
Foreign-flagged tankers could help to fill any gap, either taking fuel from the Gulf Coast to New York or from Europe.
The FBI confirmed on Monday that ransomware made by a group known as DarkSide was used in the attack.
The group posted a message on its dark-web page suggesting an affiliate was behind the attack and that it would vet buyers of its ransomware in the future to “avoid social consequences".
“We are apolitical. We do not participate in geopolitics,” the message says. “Our goal is to make money and not creating problems for society.
"From today, we introduce moderation and check each company that our partners want to encrypt to avoid social consequences in the future.”
While the inquiry remains in its early stages, some evidence has been discovered linking DarkSide to Russia or elsewhere in Eastern Europe.
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
KILLING OF QASSEM SULEIMANI
India cancels school-leaving examinations
What is an FTO Designation?
FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes.
It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.
Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.
Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.
Source: US Department of State
COMPANY%20PROFILE
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
SWEET%20TOOTH
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McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
EXPATS
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The Indoor Cricket World Cup
When: September 16-23
Where: Insportz, Dubai
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
Killing of Qassem Suleimani
Most%20polluted%20cities%20in%20the%20Middle%20East
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MOST%20POLLUTED%20COUNTRIES%20IN%20THE%20WORLD
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If%20you%20go
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'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5