An ISIS terror campaign across Europe, Russia and the Middle East is expected to follow the Moscow massacre as “one attack is not enough”, security experts have told The National.
Extremists from ISIS-Khorasan Province (ISIS-K) who killed 137 people in the Crocus City Hall attack were highly likely to have been acting under orders from the group's central commanders based in the Middle East.
With the likelihood of the attack raising more funds and recruits, the Islamic extremist group will probably launch more assaults to demonstrate that it is no longer a spent force, analysts have said.
Western security agencies are on high alert for more potential attacks, especially in France, Sweden and the Netherlands.
ISIS changes tack
Following the March 22 attack in Russia and the arrests of four Tajik gunmen, attention has been focused on the apparent resurgence of ISIS-K, based in Central Asia.
But terror expert Antonio Giustozzi told The National that the orders for the attack almost certainly came from ISIS commanders currently sheltering in Syria, Iraq or Turkey.
“ISIS-Khorasan had a support role but it was the central leadership which gave the orders to do this,” said the analyst at the Rusi think tank.
“They realised that they are in terminal decline, they have no ‘caliphate’, and an image problem of defeats and losses so they are trying to change the narrative.”
The focus now is on more high-profile attacks that will attract the tens of millions of dollars the group needs to fund its campaign.
“That is why they needed to innovate with a target like Moscow, to show that ‘we are still relevant’ and public enemy number one,” Dr Giustozzi said.
Target Europe
The graphic imagery from the Moscow attack is highly likely to influence young men to join ISIS's ranks and prepare for an attack in Europe, which has not witnessed a major atrocity since the Paris attacks in 2015.
But with anti-immigrant right-wing Islamophobic political parties gaining power in several countries, there are vulnerabilities that ISIS can prey on.
“The problem after a big attack like this succeeds is others get inspired to do it, including lone-wolf types, with a surge in the recruitment space,” a British security official said.
Western intelligence agencies have “raised the ISIS threat one of the biggest concerns out there”, he added, as the group's classic strategy is to “generate interreligious conflict”.
Dr Giustozzi pointed to France and the Netherlands as likely targets because of the “strong tensions between the communities” and “Islamophobic sentiments”.
In November last year, the anti-Muslim PVV party won the most seats in the Dutch Parliament. It leader, Geert Wilders, has previously promised to shutter mosques and ban the publication of the Quran.
A provocative ISIS attack, like striking a church service, “could create the reaction from the hard right like burning a mosque”, said Dr Giustozzi.
“Their aim is surviving via a campaign of terrorist attacks showing that they are not finished and can do things that nobody else can,” added Dr Giustozzi, who is the author of several works on the extremist group.
“To raise the money they need, ISIS require a big project and one attack is not enough.”
Khorasan role
Ever since its defeat in Syria in 2019, ISIS has been forced underground, but Moscow, alongside several less prominent attacks in recent years, demonstrated that it has not disappeared.
The US, in particular, remains focused on destroying its leadership in Syria, Iraq and Turkey. This has forced ISIS to use its affiliates in Khorasan – a historical region that today is largely made up of Afghanistan, Iran and Turkmenistan – to carry out attacks.
“It is more practical to do it from mountains of Afghanistan than from the desert of Syria,” said Dr Giustozzi.
“Khorasan also has a lot of Central Asians, who can handle day-to-day management of cells in Russia, Europe and Asia. It is a large organisation to manage.”
It is understood that there is a tacit agreement between the US and the Taliban that their drones can overfly Afghanistan but cannot bomb, even if they have ISIS-K commanders in their sights.
But they are able to gain valuable “signals intelligence” from ISIS-K, which had been passed on to the Russians before the Moscow attack, and previously to Iran before the bombing in January in which 100 people were killed at a memorial event for Iranian commander Qassem Suleimani.
However, given the distrust between the nations, the warnings were largely ignored.
Russia return
Given ISIS's success in Russia and the antagonism Central Asians feel towards President Vladimir Putin’s regime, analysts predict a rise in attacks there.
This could be stoked by Russia, where 10 per cent of the population is Muslim, rounding up and abusing suspected extremists.
“The consequence is that the Russians overreact or that others get inspired and radicalised,” the British official said.
“ISIS have been trying to do this in Russia for a long time and this one got through.”
The extremist group's propaganda also uses Mr Putin’s war in Chechnya and his strong relationship with Tajikistan’s leader Emomali Rahmon as well as his support for Syria’s President Bashar Al Assad as evidence of Moscow’s anti-Muslim stance.
But there is also a chance of an ISIS resurgence in the Middle East if the Israel-Gaza war spreads.
“ISIS operations have diversified into Africa and now Asia but the Middle East has meaning for them in a way that their other areas don’t,” said a former counter-terrorism analyst.
“They will never give up trying to establish an Islamic caliphate in the Middle East so it is key that the region does not spiral into war again as conflict and chaos is what ISIS thrives on.”
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Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Most wanted allegations
- Benjamin Macann, 32: involvement in cocaine smuggling gang.
- Jack Mayle, 30: sold drugs from a phone line called the Flavour Quest.
- Callum Halpin, 27: over the 2018 murder of a rival drug dealer.
- Asim Naveed, 29: accused of being the leader of a gang that imported cocaine.
- Calvin Parris, 32: accused of buying cocaine from Naveed and selling it on.
- John James Jones, 31: allegedly stabbed two people causing serious injuries.
- Callum Michael Allan, 23: alleged drug dealing and assaulting an emergency worker.
- Dean Garforth, 29: part of a crime gang that sold drugs and guns.
- Joshua Dillon Hendry, 30: accused of trafficking heroin and crack cocain.
- Mark Francis Roberts, 28: grievous bodily harm after a bungled attempt to steal a £60,000 watch.
- James ‘Jamie’ Stevenson, 56: for arson and over the seizure of a tonne of cocaine.
- Nana Oppong, 41: shot a man eight times in a suspected gangland reprisal attack.
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.”
MATCH INFO
English Premiership semi-finals
Saracens 57
Wasps 33
Exeter Chiefs 36
Newcastle Falcons 5
New Zealand 21 British & Irish Lions 24
New Zealand
Penalties: Barrett (7)
British & Irish Lions
Tries: Faletau, Murray
Penalties: Farrell (4)
Conversions: Farrell
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Du Plessis plans his retirement
South Africa captain Faf du Plessis said on Friday the Twenty20 World Cup in Australia in two years' time will be his last.
Du Plessis, 34, who has led his country in two World T20 campaigns, in 2014 and 2016, is keen to play a third but will then step aside.
"The T20 World Cup in 2020 is something I'm really looking forward to. I think right now that will probably be the last tournament for me," he said in Brisbane ahead of a one-off T20 against Australia on Saturday.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
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Starfield
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Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
65
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
COMPANY%20PROFILE
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The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now