The UN said on Thursday that it has secured the purchase of a large tanker to store about 1.1 million barrels of oil that will be transferred from a decaying vessel off Yemen's coast in a bid to avert an environmental disaster.
The UN Development Programme said it had signed a contract to purchase a crude carrier from major tanker company Euronav that will head to Yemen to remove the oil from the beleaguered FSO Safer.
The replacement vessel is now in dry dock for modifications and regular maintenance before sailing to the FSO Safer, moored about nine kilometres off Yemen’s Ras Isa peninsula, the UNDP said.
The vessel is expected to arrive in early May for the operation, the programme said.
“This would obviously be a major breakthrough,” programme head Achim Steiner told reporters at UN headquarters.
“We hope if all things go according to plan, that the operation of the ship-to-ship transfer would actually commence in early May.”
The FSO Safer, an ageing 1970s-era tanker built to store oil from Yemen’s Marib oilfield, is under de facto control of the Houthi rebels, who occupy a nearby port.
The tanker can store up to three million barrels of oil but currently holds about one million barrels in a rusting hull that officials say is “irreversibly” damaged and leaking.
UK ambassador to the UN Barbara Woodward has welcomed the step to salvage the tanker.
“Every day brings us closer to potential catastrophe. If the tanker breaks it would become the fifth largest oil spill in history, devastating plant and animal life in the Red Sea and the Yemeni communities that depend on it,” Ms Woodward said in a statement.
“That’s why the UK pledged £6 million for this emergency operation last summer and we’re grateful to other partners including the Netherlands, the US, Saudi Arabia, Qatar and Germany for contributing. Work must now begin urgently. There is no time to delay.”
The FSO Safer has not been maintained since 2015 because of the conflict in Yemen. It has decayed to the point where there is an imminent risk it could explode or break apart, which would have disastrous effects on the region.
A major spill would devastate fishing communities on Yemen’s Red Sea coast, likely wiping out 200,000 livelihoods instantly. Whole communities would be exposed to life-threatening toxins and highly polluted air would affect millions.
It would also result in the closure of the ports of Hodeidah and Saleef — which are essential to bring food, fuel and life-saving supplies into Yemen, where 17 million people need assistance.
Desalination plants would close, cutting off a water source for millions of people. Oil from the Safer could reach the African coast and affect countries on the Red Sea.
The environmental impact on coral reefs, life-supporting mangroves and other marine life would be severe, with fish stocks taking 25 years to recover. The cost of clean-up alone is estimated at $20 billion.
Disruptions to shipping through Bab Al Mandeb to the Suez Canal could cost billions more in global trade losses every day, as happened after the Ever Given ran aground in the canal in 2021.
The salvage operation is estimated to cost $129 million, of which $75 million has been received and another $20 million has been pledged, according to the UN.
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
More from Neighbourhood Watch
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
Company%20profile
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The biog
Year of birth: 1988
Place of birth: Baghdad
Education: PhD student and co-researcher at Greifswald University, Germany
Hobbies: Ping Pong, swimming, reading
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
The Sky Is Pink
Director: Shonali Bose
Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf
Three stars
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
NATIONAL%20SELECTIONS
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Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
The specs
Engine: 1.5-litre, 4-cylinder turbo
Transmission: CVT
Power: 170bhp
Torque: 220Nm
Price: Dh98,900
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
Pathaan
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