In this handout satellite image, a close-up view of the 'FSO Safer' can be seen off the port of Ras Isa. AFP / Satellite image ©2020 Maxar Technologies
In this handout satellite image, a close-up view of the 'FSO Safer' can be seen off the port of Ras Isa. AFP / Satellite image ©2020 Maxar Technologies
In this handout satellite image, a close-up view of the 'FSO Safer' can be seen off the port of Ras Isa. AFP / Satellite image ©2020 Maxar Technologies
In this handout satellite image, a close-up view of the 'FSO Safer' can be seen off the port of Ras Isa. AFP / Satellite image ©2020 Maxar Technologies

UN ‘disappointed’ as Houthis delay oil tanker rescue


James Reinl
  • English
  • Arabic

The UN on Wednesday said it was “clearly disappointing” that Yemen's Houthi rebels are again delaying a repair mission for a decaying oil tanker, which is threatening to spill its million-barrel load into the Red Sea.

UN spokesman Stephane Dujarric said talks with the Iran-backed Houthis over the past 10 days failed to approve the long-planned mission to reach the stranded FSO Safer and patch its leaky hull.

Mr Dujarric said the Houthis were "not ready to provide the assurances we need to deploy a UN mission to the Safer tanker".

He said the UN wanted engineers to inspect the vessel and carry out repairs, but the Houthis, who are known formally as Ansar Allah, have their own plans and have not fully endorsed the mission.

“We've had very intensive discussions on this with Ansar Allah over the last 10 days, trying to bridge the gaps in objectives and understanding,” Mr Dujarric said in New York.

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“We've also seen direct engagement by member states to try to unblock things, which has been helpful, but we're not there yet.”

The 45-year-old vessel has been stranded eight kilometres south-west of the Ras Isa oil terminal, 60km north of the Houthi-held port of Hodeidah, since 2015, when the rebels took control of the area.

Experts say it could rupture at any time, releasing 1.1 million barrels of oil into the sea.

The UN has repeatedly asked the Houthis to allow them to stop a maritime disaster that experts fear would be four times worse than the 1989 Exxon Valdez spill near Alaska.

Houthi officials approved a mission late last year but have since backtracked.

Analysts say the rebels want the FSO Safer in place to profit from its cargo and future oil sales, and to increase the risk of any seaborne assault by foreign forces.

The UN Security Council will on Thursday hear from Inger Andersen, executive director of the UN Environment Programme, and others in a meeting devoted to the Safer.

A major spill would hurt tourism, fishing and desalination plants across Yemen, Saudi Arabia, Israel, Jordan, Egypt, Sudan, Eritrea and Djibouti, and impede a shipping lane that facilitates as much as 10 per cent of global trade.

MATCH INFO

Manchester United 1 (Rashford 36')

Liverpool 1 (Lallana 84')

Man of the match: Marcus Rashford (Manchester United)

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

Scoreline:

Cardiff City 0

Liverpool 2

Wijnaldum 57', Milner 81' (pen)

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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