US and Russian government officials confirmed that Brittney Griner and Viktor Bout were exchanged in a prisoner swap mediated by the UAE and Saudi Arabia. EPA
US and Russian government officials confirmed that Brittney Griner and Viktor Bout were exchanged in a prisoner swap mediated by the UAE and Saudi Arabia. EPA
US and Russian government officials confirmed that Brittney Griner and Viktor Bout were exchanged in a prisoner swap mediated by the UAE and Saudi Arabia. EPA
US and Russian government officials confirmed that Brittney Griner and Viktor Bout were exchanged in a prisoner swap mediated by the UAE and Saudi Arabia. EPA

UAE

UAE President and Saudi Crown Prince mediate release of Brittney Griner

US basketball player Griner was released Thursday and is heading home via UAE

Amr Mostafa
Amr Mostafa

December 08, 2022

  • English
  • Arabic

The UAE and Saudi Arabia mediated the release of American basketball star Brittney Griner from Russia through a prisoner swap, the two nations said in a statement on Thursday.

Griner, who Washington claimed had been wrongfully detained in Russia over alleged drug offences, was released on Thursday and was heading back home via the UAE, US President Joe Biden said.

“The UAE and Saudi foreign ministries declare the success of Emirati and Saudi mediation led by UAE President Mohamed bin Zayed and Saudi Crown Prince Mohammed bin Salman to release and swap two prisoners between the US and Russia,” a joint statement read.

“The UAE received on December 8, 2022, American citizen Brittney Griner on a private plane coming from Moscow after she was released by Russian authorities, coincidently with the arrival of Russian citizen Viktor Bout on a private plane from Washington after he was released by US authorities, in the attendance of officials from the UAE and Saudi Arabia.

“The success of the mediation efforts was a reflection of the mutual and solid friendship between their two countries and the United States of America and the Russian Federation.”

The mediation also “highlighted the important role played by the leaderships of the two brotherly countries in promoting dialogue between all parties”.

After speaking with Griner earlier in the day, Mr Biden said “she is safe” and added that she would be back in the US within 24 hours.

The president thanked his administration and the UAE for enabling Griner's release.

US Secretary of State Antony Blinken also praised the move. He spoke of his “deep appreciation” for the UAE's role in Griner's release and said he was in contact with her family.

Russia's Foreign Ministry said Griner had been traded for Viktor Bout, a convicted arms dealer being held in the US.

Phoenix Mercury centre Brittney Griner during the first half of Game 2 of the WNBA Finals against the Chicago Sky. AP
Phoenix Mercury centre Brittney Griner during the first half of Game 2 of the WNBA Finals against the Chicago Sky. AP
Griner, a two-time Olympic gold medallist and WNBA champion, was detained at Moscow airport in February on charges of carrying in her luggage vape cartridges with cannabis oil. AFP
Griner, a two-time Olympic gold medallist and WNBA champion, was detained at Moscow airport in February on charges of carrying in her luggage vape cartridges with cannabis oil. AFP
Griner leaving a courtroom after a hearing in May. The Phoenix Mercury star, considered in some polls to be the US’s most gifted female athlete, could face 10 years in prison if convicted on charges of large-scale transportation of drugs. AP
Griner leaving a courtroom after a hearing in May. The Phoenix Mercury star, considered in some polls to be the US’s most gifted female athlete, could face 10 years in prison if convicted on charges of large-scale transportation of drugs. AP
Griner asked US President Joe Biden to free her from a Russian prison in a handwritten letter on July 4, 2022, portions of which were made public by her family. AFP
Griner asked US President Joe Biden to free her from a Russian prison in a handwritten letter on July 4, 2022, portions of which were made public by her family. AFP
Grineris escorted before a court hearing in Khimki outside Moscow, Russia on July 1, 2022. Reuters
Grineris escorted before a court hearing in Khimki outside Moscow, Russia on July 1, 2022. Reuters
The US stepped up its push in March for consular access to Griner, who is detained in Russia on allegations of drug smuggling. AP
The US stepped up its push in March for consular access to Griner, who is detained in Russia on allegations of drug smuggling. AP
Griner at the White House alongside teammates. Photo: US National Archives
Griner at the White House alongside teammates. Photo: US National Archives
Brittney Griner of the Phoenix Mercury celebrates with fans. Getty Images North America / AFP
Brittney Griner of the Phoenix Mercury celebrates with fans. Getty Images North America / AFP
A man holds a sign for Brittney Griner Home during the first half of the WNBA game between the Chicago Sky and Phoenix Mercury at Wintrust Arena in Chicago, Illinois. EPA
A man holds a sign for Brittney Griner Home during the first half of the WNBA game between the Chicago Sky and Phoenix Mercury at Wintrust Arena in Chicago, Illinois. EPA
Griner, a player of the WNBA's Phoenix Mercury team was arrested in February at Moscow's Sheremetyevo Airport after some hash oil was detected and found in her luggage, for which she now could face a prison sentence of up to ten years. EPA
Griner, a player of the WNBA's Phoenix Mercury team was arrested in February at Moscow's Sheremetyevo Airport after some hash oil was detected and found in her luggage, for which she now could face a prison sentence of up to ten years. EPA
Fans hold signs Griner during the first half of the WNBA game between the Chicago Sky and Phoenix Mercury at Wintrust Arena in Chicago, Illinois. EPA
Fans hold signs Griner during the first half of the WNBA game between the Chicago Sky and Phoenix Mercury at Wintrust Arena in Chicago, Illinois. EPA
A sign for Griner is displayed during a game between Portland Thorns FC and Angel City FC at Banc of California Stadium in Los Angeles, California. Getty Images / AFP
A sign for Griner is displayed during a game between Portland Thorns FC and Angel City FC at Banc of California Stadium in Los Angeles, California. Getty Images / AFP
The Khimki City Court reportedly had extended Greiner's detention for the duration of her trial on charges of drug smuggling that started on 01 July. EPA
The Khimki City Court reportedly had extended Greiner's detention for the duration of her trial on charges of drug smuggling that started on 01 July. EPA
Griner gestures during a game against Australia at Saitama Super Arena in their Tokyo 2020 Olympic women's basketball quarterfinal game in Saitama, Japan August 4, 2021. Reuters
Griner gestures during a game against Australia at Saitama Super Arena in their Tokyo 2020 Olympic women's basketball quarterfinal game in Saitama, Japan August 4, 2021. Reuters
Dallas Wings' Marina Mabrey wears shoes that have a "BG" logo on them, a reference to Brittney Griner, during the second half of the team's WNBA basketball game against the Indiana Fever, Thursday, June 23, 2022, in Arlington, Texas. AP
Dallas Wings' Marina Mabrey wears shoes that have a "BG" logo on them, a reference to Brittney Griner, during the second half of the team's WNBA basketball game against the Indiana Fever, Thursday, June 23, 2022, in Arlington, Texas. AP
"We Are BG 42" is displayed on the exterior of Footprint Center before the WNBA game between the Phoenix Mercury and the Minnesota Lynx on June 21, 2022 in Phoenix, Arizona. Getty Images / AFP
"We Are BG 42" is displayed on the exterior of Footprint Center before the WNBA game between the Phoenix Mercury and the Minnesota Lynx on June 21, 2022 in Phoenix, Arizona. Getty Images / AFP
Minnesota Lynx's Aerial Powers wears a shirt in support of Griner during introductions for the team's WNBA basketball game against the Seattle Storm. Star Tribune / AP
Minnesota Lynx's Aerial Powers wears a shirt in support of Griner during introductions for the team's WNBA basketball game against the Seattle Storm. Star Tribune / AP
Griner poses with her gold medal in Women's Basketball at the Tokyo 2020 Summer Olympics at the Saitama Super Arena in Saitama, Japan, August 8, 2021. Reuters
Griner poses with her gold medal in Women's Basketball at the Tokyo 2020 Summer Olympics at the Saitama Super Arena in Saitama, Japan, August 8, 2021. Reuters
Brittney Griner with teammates Diana Taurasi and Skylar Diggins posing for pictures with their gold medals on the podium during the medal ceremony for the women's basketball competition of the Tokyo 2020 Olympic Games. AFP
Brittney Griner with teammates Diana Taurasi and Skylar Diggins posing for pictures with their gold medals on the podium during the medal ceremony for the women's basketball competition of the Tokyo 2020 Olympic Games. AFP

The US team was unable to secure the release of a second US citizen from Russia.

Paul Whelan has been held in Russia since 2018 and is serving a 16-year sentence after being convicted of espionage.

“This was not a choice of which American. The choice was one or none,” said Mr Blinken.

Whelan's brother said on Thursday that his family supports the deal that brought back Griner.

“I think President Biden made the right decision,” David Whelan told MSNBC. “His job is to protect all Americans. It would've been wrong for him to leave behind an American when he had the ability to bring them home.”

Paul Whelan in Moscow in 2020. AP
Paul Whelan in Moscow in 2020. AP
Dubai World Cup factbox

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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.”

Updated: December 09, 2022, 4:47 AM
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