Damaged grain silos stand as a reminder of the Beirut port blast five years after the explosion on August 4, 2020. EPA
Damaged grain silos stand as a reminder of the Beirut port blast five years after the explosion on August 4, 2020. EPA
Damaged grain silos stand as a reminder of the Beirut port blast five years after the explosion on August 4, 2020. EPA
Damaged grain silos stand as a reminder of the Beirut port blast five years after the explosion on August 4, 2020. EPA

Russian owner of cargo ship linked to Beirut port blast is arrested in Bulgaria


Fatima Al Mahmoud
  • English
  • Arabic

Bulgarian police have arrested the Russian owner of the ship that transported ammonium nitrate to Beirut in 2013, seven years before the catastrophic 2020 port explosion.

Igor Grechushkin, owner of the cargo vessel Rhosus, has been detained in Bulgaria nearly five years after a Lebanese judge issued an Interpol arrest warrant for him and the ship's captain, Boris Prokoshev.

The vessel owner, who also has Cypriot nationality, was arrested at Vasil Levski Sofia airport after arriving on a flight from Cyprus.

Lebanon will request the extradition of Mr Grechushkin for questioning, judicial officials said. If he is not handed over, Lebanese investigators could travel to Bulgaria to question him there, they added. Authorities have 40 days to send the necessary documents to effect such a move, according to Bulgarian law.

The Rhosus was carrying 2,750 tonnes of the highly explosive chemical from Georgia to Mozambique when it made an unscheduled stop in Beirut in November 2013.

The cargo was unloaded, then stored unsafely for years, while the vessel, which had mechanical problems and owed port fees, was abandoned in the Lebanese capital after being declared unseaworthy.

Despite warnings from some officials, the sacks of ammonium nitrate onboard were unloaded after a court order in 2014 and stored in Warehouse 12 at Beirut port, which lies at the heart of the capital, near densely populated residential and commercial neighbourhoods.

On August 4, 2020, the stockpile of highly combustible chemical exploded, killing more than 220 people, injuring thousands more, and destroying districts around the port.

The Beirut port blast was ranked as one of the largest non-nuclear explosions in history, leaving physical and emotional scars on Lebanon and its people to this day. Justice for the victims remains elusive.

A domestic investigation into the blast, which has been blamed largely on state negligence and mismanagement, is continuing. The judge heading the inquiry, Tarek Bitar, has faced political obstruction and threats that have frequently forced him to suspend his work.

Lebanon’s new government, which came to power this year, has repeatedly said that justice for the blast is a top priority and has publicly vowed to support Mr Bitar.

Last month, Justice Minister Adel Nassar told The National that Lebanon “cannot pretend” to be a state if answers are not found to questions about the port explosion.

“A state that is not able to give answers and ensure accountability to its citizens is a state not fulfilling its role,” he said.

Sheer grandeur

The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.

A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

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A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

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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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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

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MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Napoleon
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Updated: September 16, 2025, 11:01 AM