Ukrainian President Volodymyr Zelenskyy has accused Moscow of plotting an imminent attack on the Zaporizhzhia nuclear plant, saying the Kremlin may “commit new evil” in its fight to hold on to occupied territory in Ukraine.
Mr Zelenskyy said information from Ukraine's intelligence showed Russia had placed objects “resembling explosives” on the roofs of several units at the plant, the largest nuclear station in Europe.
“Perhaps to simulate an attack on the plant. Perhaps they have some other scenario,” he said of the objects during a nightly address on Tuesday.
“But in any case, the world sees – can't but see – that the only source of danger to the Zaporizhzhia nuclear power plant is Russia and no one else.”
Mr Zelenskyy warned last week of Russian threats to the plant, claiming Moscow was “technically ready” to provoke a blast at the station, which it seized shortly after its invasion of Ukraine last February.
Since then, each side has regularly accused the other of conducting shelling around the plant, raising the risk of a major nuclear disaster.
The president also referenced the Kakhovka dam collapse, which Kyiv blamed on Russia, saying the lack of response to the devastating floods may “incite the Kremlin to commit new evil.”
“It is the responsibility of everyone in the world to stop it, no one can stand aside, as radiation affects everyone.”
He has also spoken to French President Emmanuel Macron over threats to the plant, telling him Moscow was preparing a “dangerous provocation” at the site.
Meanwhile, Russia accused Kyiv of also planning to attack the plant using long-range weapons and drones.
Renat Karchaa, an adviser to the head of Rosenergoatom, which operates Russia's nuclear network, said Ukraine planned to drop ammunition laced with nuclear waste, transported from one of the country's five nuclear stations, on the plant.
“Under cover of darkness overnight on 5th July, the Ukrainian military will try to attack the Zaporizhzhia station using long-range precision equipment and kamikaze attack drones,” Russian news agencies quoted Mr Karchaa as telling Russian television.
The UN's nuclear watchdog, the International Atomic Energy Agency, has been trying for more than a year to clinch a deal to ensure the plant is demilitarised and reduce the risks of any nuclear accident.
The agency's director general, Rafael Grossi, has visited the plant three times since the Russian takeover but failed to reach any agreement to keep it safe from shelling.
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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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