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Several luxury yachts owned by wealthy Russians have been detained across Europe this month.
It comes after the West imposed sanctions on oligarchs over Moscow's invasion of Ukraine.
Some have taken evasive action – two such superyachts linked to billionaire Roman Abramovich were spotted approaching the Turkish coast on Tuesday. A group of Ukrainians tried to stop one of the yachts from docking in Turkey.
Chelsea FC owner Mr Abramovich is one of several oligarchs who were added to an EU blacklist last week as governments acted to seize yachts and other luxury assets owned by the billionaires.
Western sanctions resulted in many large vessels relocating from Europe in the past few weeks. Several have headed to places such as the Maldives, which have no extradition treaty with the US.
Where is the Abramovich-owned yacht heading?
Mr Abramovich's yacht Eclipse was seen heading towards Marmaris on Tuesday, according to data compiled by monitoring site Marine Traffic, which was seen by Reuters.
The previous day, his superyacht Solaris was moored in Bodrum, about 80 kilometres from Marmaris, data showed, after skirting waters of EU countries.
There was no suggestion Mr Abramovich was on board either of the yachts.
Which yachts have been detained?
On Monday, a superyacht linked to another Russian billionaire was detained by authorities after docking in Gibraltar.
The Axioma, believed to belong to Dmitrievich Pumpyansky, moored at Gibraltar on the southern tip of the Iberian Peninsula, Reuters TV footage showed.
Mr Pumpyansky, who is under UK and EU sanctions, owns Russia's largest steel pipe maker TMK. Data shows the 72-metre vessel is owned by a British Virgin Islands holding company called Pyrene investments, Reuters reported. An article published as part of the Panama Papers leaks names Mr Pumpyansky as a beneficiary of the holding.
On March 12, the world's biggest sailing yacht, called Sailing Yacht A and owned by Russian billionaire Andrey Igorevich Melnichenko, was seized by Italian police.
Several other luxury yachts have also been detained across Europe, including in Gibraltar, Mallorca in Spain's Balearic Islands and the French coast.
Here are 16 superyachts linked to wealthy Russians
1. Eclipse, a superyacht linked to sanctioned Russian oligarch Roman Abramovich, was this week spotted heading in the direction of Marmaris in Turkey.
2. Solaris, belonging to Mr Abramovich, moored in Bodrum at the start of the week.
3. The Axioma superyacht, belonging to Russian oligarch Dmitrievich Pumpyansky, who is on the EU's list of sanctioned Russians, was detained by authorities after docking in Gibraltar on Monday.
4. The Crescent, which was seized by the Spanish government in Tarragona, Spain, on March 17. The ship's owner is not publicly known, although it is believed to belong to Russian Igor Sechin, head of Rosneft Oil in Moscow.
5. Ragnar, owned by former KGB officer and Russian oligarch Vladimir Strzhalkovsky, who is not on the EU sanctions list.
6. Tango, owned by Russian billionaire Viktor Vekselberg, who was sanctioned by the US on March 11.
7. Lady Anastasia, owned by Russian arms manufacturer Alexander Mijeev, is retained at Port Adriano, Mallorca, as a result of sanctions against Russia and Belarus issued by the European Union.
8. Valerie was seized by the Spanish government in Barcelona, Spain, on March 15. Spanish newspaper El Pais reported that the ship is linked to Rostec State Corporation’s chief executive Sergey Chemezov.
9. The $578 million Sailing Yacht A owned by Russian billionaire Andrey Igorevich Melnichenko was seized by Italian police in the port of Trieste on March 12.
10. The 156-metre Dilbar superyacht is owned by Russian billionaire Alisher Usmanov.
11. La Datcha belongs to Russian billionaire businessman Oleg Tinkov.
12. Lady M, owned by Russian oligarch Alexei Mordashov, was seized by Italian police on March 5.
13. Amore Vero was seized in the Mediterranean resort of La Ciotat on March 3 by French authorities. The yacht is linked to Igor Sechin, a Putin ally who runs the Russian oil giant Rosneft.
14. Quantum Blue, owned by a company linked to Russian billionaire Sergei Galitsky, the head of Russian oil giant Rosneft, was seized in southern France on March 3.
15. Superyacht Luna is owned by Russian billionaire Farkhad Akhmedov.
16. Triple Seven is owned by Russian billionaire Alexander Abramov, according to media reports. The yacht was last up for sale in 2020 for €38 million ($41.85 million).
Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
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Medicus AI
Started: 2016
Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh
Based: Vienna, Austria; started in Dubai
Sector: Health Tech
Staff: 119
Funding: €7.7 million (Dh31m)
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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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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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
FIGHT CARD
1. Featherweight 66kg
Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg
Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg
Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg
Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg
Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg
Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg
Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg
Mostafa Radi (PAL) v Abdipatta Abdizhali (KGZ)
9. Featherweight 66kg
Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg
Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
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- On sale: 2026
- Price: Not announced yet
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now