UAE calls for Ukraine-Russia ceasefire ahead of UN Security Council presidency


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The UAE called for a ceasefire in Ukraine as it prepared to accept the presidency of the UN Security Council on Tuesday.

Mohamed Abushahab, the UAE's Deputy Permanent Representative to the UN, said “we deplore the ongoing violence in Ukraine".

He stressed the need “for restraint, a ceasefire, and a peaceful resolution of the conflict” in a statement.

On Tuesday, the Emirates will accept the rotating presidency of the 15-member Security Council, with Ambassador to the UN Lana Nusseibeh taking the chair.

We deplore the ongoing violence in Ukraine and reiterate the need for restraint, a cease-fire, and a peaceful resolution of the conflict
Mohamed Abushahab,
UAE's Deputy Permanent Representative to the UN

The handover comes on the sixth day since Russian troops crossed the Ukrainian border and amid growing Ukrainian civilian casualties.

Reports and video footage showed Russian missiles striking residential districts of Ukraine's second city, Kharkiv, which has a population of 1.6 million, on Monday. Ukraine's government said dozens of civilians died.

“The humanitarian situation in Ukraine has deteriorated significantly in recent days, as the continued fighting results in damages to civilian infrastructure and civilian casualties and deaths,” Ambassador Abushahab said.

“All civilians who are trying to find a safe place must be allowed to do so unhindered, without being subjected to discrimination.”

  • A monitor displays a projectile striking the regional state administration building in Kharkiv, as the Russian invasion continues. Reuters
    A monitor displays a projectile striking the regional state administration building in Kharkiv, as the Russian invasion continues. Reuters
  • People help a wounded woman in the aftermath of Russian shelling in Kharkiv. EPA
    People help a wounded woman in the aftermath of Russian shelling in Kharkiv. EPA
  • Ukrainian emergency service personnel carry the body of a victim following shelling in Kharkiv. AP
    Ukrainian emergency service personnel carry the body of a victim following shelling in Kharkiv. AP
  • Students who fled the conflict rest in a refugee camp in Voluntari, Romania. AP
    Students who fled the conflict rest in a refugee camp in Voluntari, Romania. AP
  • Members of an Ukrainian civil defence unit pass new assault rifles to the opposite side of a blown-up bridge on Kiev’s northern front. AFP
    Members of an Ukrainian civil defence unit pass new assault rifles to the opposite side of a blown-up bridge on Kiev’s northern front. AFP
  • Civilians cross a river on Kiev's northern front. AFP
    Civilians cross a river on Kiev's northern front. AFP
  • A woman takes photos of a destroyed accommodation building near a checkpoint in Brovary, outside Kiev. AP
    A woman takes photos of a destroyed accommodation building near a checkpoint in Brovary, outside Kiev. AP
  • The city hall of Kharkiv, damaged by Russian shelling. AFP
    The city hall of Kharkiv, damaged by Russian shelling. AFP
  • Debris litters the square outside the damaged Kharkiv city hall. AFP
    Debris litters the square outside the damaged Kharkiv city hall. AFP
  • A Ukrainian woman sleeps on the floor of the railway station in Zahonyi close to the Hungary/Ukraine border. AFP
    A Ukrainian woman sleeps on the floor of the railway station in Zahonyi close to the Hungary/Ukraine border. AFP
  • A medical worker attends to wounded man at a hospital in Brovary, outside Kiev. AP
    A medical worker attends to wounded man at a hospital in Brovary, outside Kiev. AP
  • Refugees from Ukraine in a tent at the Medyka border crossing, Poland. AP
    Refugees from Ukraine in a tent at the Medyka border crossing, Poland. AP
  • Debris outside the regional administration building, which city officials said was hit by a missile, in Kharkiv. Reuters
    Debris outside the regional administration building, which city officials said was hit by a missile, in Kharkiv. Reuters
  • A student evacuated from Ukraine is embraced by her family after arriving at Tunis-Carthage International Airport in Tunisia. AFP
    A student evacuated from Ukraine is embraced by her family after arriving at Tunis-Carthage International Airport in Tunisia. AFP
  • Rescuers in a building damaged by a missile in central Kharkiv. Reuters
    Rescuers in a building damaged by a missile in central Kharkiv. Reuters
  • An ambulance is visible through the damaged window of a vehicle hit by bullets in Kiev, Ukraine. Reuters
    An ambulance is visible through the damaged window of a vehicle hit by bullets in Kiev, Ukraine. Reuters
  • Territorial defence members prepare to head out on patrol in Kiev. EPA
    Territorial defence members prepare to head out on patrol in Kiev. EPA
  • UN Secretary General Antonio Guterres delivers a speech on screen during the opening of the 49th session of the UN Human Rights Council in Geneva, Switzerland. AP
    UN Secretary General Antonio Guterres delivers a speech on screen during the opening of the 49th session of the UN Human Rights Council in Geneva, Switzerland. AP
  • A policeman detains a young demonstrator during a protest against Russia's attack on Ukraine in St Petersburg, Russia. AP
    A policeman detains a young demonstrator during a protest against Russia's attack on Ukraine in St Petersburg, Russia. AP
  • Local residents in Zhytomyr, Ukraine, prepare Molotov cocktails. Reuters
    Local residents in Zhytomyr, Ukraine, prepare Molotov cocktails. Reuters
  • Residents clean a bomb shelter under an out-of-service cinema in central Zhytomyr. Reuters
    Residents clean a bomb shelter under an out-of-service cinema in central Zhytomyr. Reuters
  • Ukrainian volunteers tear cloth into strips to make camouflage nets in Lviv, western Ukraine. AP
    Ukrainian volunteers tear cloth into strips to make camouflage nets in Lviv, western Ukraine. AP
  • Part of the military convoy north-west of Invankiv, Ukraine. AP
    Part of the military convoy north-west of Invankiv, Ukraine. AP
  • Mark Goncharuk, a young boy from Kiev, leaves his father behind as he travels with the rest of his family towards the border. Reuters
    Mark Goncharuk, a young boy from Kiev, leaves his father behind as he travels with the rest of his family towards the border. Reuters
  • People hold an anti-war protest outside the Russian Embassy in Mexico City, Mexico. Reuters
    People hold an anti-war protest outside the Russian Embassy in Mexico City, Mexico. Reuters
  • A crater caused by shelling on the outskirts of Kiev. AFP
    A crater caused by shelling on the outskirts of Kiev. AFP
  • People queue outside a grocery store in the Ukrainian capital. EPA
    People queue outside a grocery store in the Ukrainian capital. EPA
  • Ukrainian soldiers stand at Maidan Nezalezhnosti, or Independence Square, in Kiev. EPA
    Ukrainian soldiers stand at Maidan Nezalezhnosti, or Independence Square, in Kiev. EPA
  • Vladimir Medinsky, the head of the Russian delegation, second left, and Davyd Arakhamia, faction leader of the Servant of the People party in the Ukrainian Parliament, third right, attend the peace talks in the Gomel region of Belarus. AP
    Vladimir Medinsky, the head of the Russian delegation, second left, and Davyd Arakhamia, faction leader of the Servant of the People party in the Ukrainian Parliament, third right, attend the peace talks in the Gomel region of Belarus. AP
  • People who have fled the Russian invasion in Ukraine, clamour to board a bus bound for a refugee centre established in Przemysl, Poland. Reuters
    People who have fled the Russian invasion in Ukraine, clamour to board a bus bound for a refugee centre established in Przemysl, Poland. Reuters
  • Hanna Pavlovna Lukasz, from Mirhord, Ukraine, said her sons, aged 12 and 8, and her 66-year-old mother had been waiting on the Ukrainian side of the border crossing with Medyka, Poland, for four days. AP
    Hanna Pavlovna Lukasz, from Mirhord, Ukraine, said her sons, aged 12 and 8, and her 66-year-old mother had been waiting on the Ukrainian side of the border crossing with Medyka, Poland, for four days. AP
  • A volunteer from Kiev prepares a rear post with trenches in the city. AFP
    A volunteer from Kiev prepares a rear post with trenches in the city. AFP
  • A child being treated for cancer rests in the bomb shelter of the oncology ward at a hospital in Kiev. Getty
    A child being treated for cancer rests in the bomb shelter of the oncology ward at a hospital in Kiev. Getty
  • Police officers check occupants of a suspicious car in Kiev, as Russia's invasion of Ukraine continues. Reuters
    Police officers check occupants of a suspicious car in Kiev, as Russia's invasion of Ukraine continues. Reuters
  • A woman from Ukraine uses a phone to listen to a speech by President Volodymyr Zelenskyy at a refugee shelter in Beregsurany, Hungary. Reuters
    A woman from Ukraine uses a phone to listen to a speech by President Volodymyr Zelenskyy at a refugee shelter in Beregsurany, Hungary. Reuters
  • Shelves empty of bread after a curfew was lifted as Russia's invasion of Ukraine continues, in Kiev. Reuters
    Shelves empty of bread after a curfew was lifted as Russia's invasion of Ukraine continues, in Kiev. Reuters
  • Ukrainian Defence Minister Oleksii Reznikov, left, and President Zelenskyy. AFP
    Ukrainian Defence Minister Oleksii Reznikov, left, and President Zelenskyy. AFP
  • Snow-covered shoes donated for those fleeing the Russian invasion of Ukraine at the border crossing in Medyka, Poland. Reuters
    Snow-covered shoes donated for those fleeing the Russian invasion of Ukraine at the border crossing in Medyka, Poland. Reuters
  • People who have fled Ukraine wait for a bus to transport them away from the border crossing in Medyka. Reuters
    People who have fled Ukraine wait for a bus to transport them away from the border crossing in Medyka. Reuters
  • Norwegian soldiers of the Nato-enhanced forward presence battalion pose at a military plane as they arrive at an airport in Kaunas, Lithuania. AP
    Norwegian soldiers of the Nato-enhanced forward presence battalion pose at a military plane as they arrive at an airport in Kaunas, Lithuania. AP
  • A person fleeing Ukraine sits during snowfall at a temporary camp in Przemysl, Poland. Reuters
    A person fleeing Ukraine sits during snowfall at a temporary camp in Przemysl, Poland. Reuters
  • Footage reportedly of Russian Buk missile system vehicles on a road before a drone strike near Malyn, Ukraine. Reuters
    Footage reportedly of Russian Buk missile system vehicles on a road before a drone strike near Malyn, Ukraine. Reuters
  • An explosion after what are said to be Russian Buk missile system vehicles on a road are struck by a drone. Reuters
    An explosion after what are said to be Russian Buk missile system vehicles on a road are struck by a drone. Reuters
  • The monument to Russian troops from the Second World War, after the figures’ hands were painted red, at the Red Army memorial in Sofia, Bulgaria. EPA
    The monument to Russian troops from the Second World War, after the figures’ hands were painted red, at the Red Army memorial in Sofia, Bulgaria. EPA
  • The Peace Tower on Parliament Hill in Ottawa, Canada, is lit up with the colours of Ukraine’s national flag in a show of support. AP
    The Peace Tower on Parliament Hill in Ottawa, Canada, is lit up with the colours of Ukraine’s national flag in a show of support. AP
  • Russian President Vladimir Putin visits the construction site of the National Space Agency on the premises of the Khrunichev State Research and Production Space Centre, in Moscow. EPA
    Russian President Vladimir Putin visits the construction site of the National Space Agency on the premises of the Khrunichev State Research and Production Space Centre, in Moscow. EPA
  • A man looks out from a train, at the railway station in Lviv, Ukraine. The UN has estimated the conflict could produce as many as four million refugees. AP
    A man looks out from a train, at the railway station in Lviv, Ukraine. The UN has estimated the conflict could produce as many as four million refugees. AP
  • A Ukrainian boy waits for his mother after passing the border crossing point in Siret, northern Romania. EPA
    A Ukrainian boy waits for his mother after passing the border crossing point in Siret, northern Romania. EPA
  • Russian policemen detain a demonstrator in St Petersburg, during a protest against the country's military actions in Ukraine. EPA
    Russian policemen detain a demonstrator in St Petersburg, during a protest against the country's military actions in Ukraine. EPA
  • Ukrainian soldiers at a check point in the city of Zhytomyr. Reuters
    Ukrainian soldiers at a check point in the city of Zhytomyr. Reuters
  • Residents prepare petrol bombs to defend the city, in Uzhhorod, Ukraine. Reuters
    Residents prepare petrol bombs to defend the city, in Uzhhorod, Ukraine. Reuters
  • A pro-Russian fighter sits inside a tank in the separatist self-proclaimed Luhansk People's Republic, in the Luhansk region, Ukraine. Reuters
    A pro-Russian fighter sits inside a tank in the separatist self-proclaimed Luhansk People's Republic, in the Luhansk region, Ukraine. Reuters
  • Russian President Vladimir Putin, right, speaks to Defence Minister Sergei Shoigu, second left, and Head of the General Staff of the Armed Forces and First Deputy Defence Minister Valery Gerasimov, left, during their meeting in Moscow. AP
    Russian President Vladimir Putin, right, speaks to Defence Minister Sergei Shoigu, second left, and Head of the General Staff of the Armed Forces and First Deputy Defence Minister Valery Gerasimov, left, during their meeting in Moscow. AP
  • Ukrainians and supporters gather during a demonstration in front of the Greek Parliament in Athens against the Russian military's operation in Ukraine. AFP
    Ukrainians and supporters gather during a demonstration in front of the Greek Parliament in Athens against the Russian military's operation in Ukraine. AFP
  • Ukrainian Territorial Defence fighters test an automatic grenade launcher taken from a destroyed Russian infantry mobility vehicla after a battle in Kharkiv. AFP
    Ukrainian Territorial Defence fighters test an automatic grenade launcher taken from a destroyed Russian infantry mobility vehicla after a battle in Kharkiv. AFP

He added: “The continuation of the fighting will lead to further losses among civilians, in addition to worsening the humanitarian situation, which is exacerbated by the extreme temperatures this winter, as civilians are fleeing the crisis, seeking refuge and safe havens.

“Therefore, we urge all parties to implement their obligations under international law, including by allowing humanitarian aid to reach those in need and to refrain from targeting civilians.

“In conclusion, my country reiterates the importance of working to reach an immediate ceasefire and seeking peaceful solutions that serve regional and international security and stability.”

The UAE, one of 10 temporary council members serving two-year terms, will hold the presidency for one month.

Ms Nusseibeh is expected to set out her country's policies and focus in a session in New York later.

On Monday night, the Security Council ratcheted up sanctions on Yemen's rebel Houthi group following missile and drone strikes on the UAE and Saudi Arabia this year.

The new sanctions, proposed by the Emirates, expand a UN arms embargo against several Houthi leaders to include the whole group.

The Houthi militias were formally labelled a “terrorist group” in the resolution, which 11 of the 15 council members backed.

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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 

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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. 

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It conducts electricity better than any other material at room temperature.

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Graphene can also detect cancer cells in the early stages of the disease.

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Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

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Updated: March 02, 2022, 8:14 AM