US President Joe Biden waves as he boards Air Force One to head to Brussels on Wednesday. AP
US President Joe Biden waves as he boards Air Force One to head to Brussels on Wednesday. AP
US President Joe Biden waves as he boards Air Force One to head to Brussels on Wednesday. AP
US President Joe Biden waves as he boards Air Force One to head to Brussels on Wednesday. AP

Joe Biden heads to Brussels for western summit as Russia braces for tougher sanctions


Tim Stickings
  • English
  • Arabic

US and western leaders assembled in Brussels for back-to-back summits to formulate a response to Russia's invasion of Ukraine on Thursday with further arms shipments to Kyiv and new sanctions measures at the top of the agenda.

Once the handshakes and photographs with visiting US President Joe Biden are out of the way, the leaders of Nato, the G7 and the European Union will get down to grappling with the multifaceted fallout of Russia’s war in Ukraine.

The US says a new sanctions package will be unveiled this week and will include measures to close loopholes in existing embargoes.

Nato Secretary General Jens Stoltenberg said he expected the Brussels summit to produce major increases in troop deployments on the alliance’s eastern flank.

The Nato meeting will begin on Thursday morning exactly one month on from the start of an invasion that has driven 3.6 million people out of Ukraine, prompted unprecedented sanctions on Russia and led to a fundamental rethink of Europe’s energy and defence policies.

G7 leaders will then break off for talks before Mr Biden makes a guest appearance at a European Council summit stretching into Friday. Mr Biden is expected to announce sanctions on 300 members of the Russian State Duma, matching measures imposed by the EU a month ago.

Although diplomats have spoken of a surge of western unity in the face of Russia’s aggression, many of the issues arising from the war have the potential to cause political headaches as leaders decide how to proceed.

  • Workers unloading a Royal Canadian Air Force military transport plane to assist Ukraine at Lviv airport. AFP
    Workers unloading a Royal Canadian Air Force military transport plane to assist Ukraine at Lviv airport. AFP
  • A new member of the Territorial Defence Forces trains to operate an AT4 anti-tank launcher in Kyiv. Reuters
    A new member of the Territorial Defence Forces trains to operate an AT4 anti-tank launcher in Kyiv. Reuters
  • A plane loaded with military equipment for Ukrainian forces takes off from Albacete, Spain. EPA
    A plane loaded with military equipment for Ukrainian forces takes off from Albacete, Spain. EPA
  • A Ukrainian soldier holds a Next Generation Light Anti-tank Weapon used to destroy a Russian armoured personal carrier in Irpin, north of Kyiv. AFP
    A Ukrainian soldier holds a Next Generation Light Anti-tank Weapon used to destroy a Russian armoured personal carrier in Irpin, north of Kyiv. AFP
  • A Ukrainian serviceman with a Javelin missile system on the front line near Kyiv. Reuters
    A Ukrainian serviceman with a Javelin missile system on the front line near Kyiv. Reuters
  • A soldier holds a Panzerfaust 3 anti-tank rocket launcher at the Munster military training area in Germany in 2016. Getty Images
    A soldier holds a Panzerfaust 3 anti-tank rocket launcher at the Munster military training area in Germany in 2016. Getty Images
  • A US Marine Corps staff sergeant aims a M72 Light Anti-tank Weapon. Photo: US National Archives
    A US Marine Corps staff sergeant aims a M72 Light Anti-tank Weapon. Photo: US National Archives
  • The Switchblade is a camera-equipped, remote-controlled flying bomb with a reputation for pinpoint delivery. AP Photo
    The Switchblade is a camera-equipped, remote-controlled flying bomb with a reputation for pinpoint delivery. AP Photo
  • A coalition forces member fires a Carl Gustav recoilless rifle system during weapons practice on a range in Helmand province, Afghanistan, in 2013. US Army Photo
    A coalition forces member fires a Carl Gustav recoilless rifle system during weapons practice on a range in Helmand province, Afghanistan, in 2013. US Army Photo
  • A Starstreak surface-to-air missile system. PA
    A Starstreak surface-to-air missile system. PA

As well as Mr Biden working on long-term efforts to boost defences in Eastern Europe, where countries especially fear Russian aggression, the president is also aiming to reduce the continent’s reliance on Russian energy.

“This war will not end easily or rapidly,” Jake Sullivan, the US National Security Adviser, cautioned in a briefing before the four-day Europe trip.

The diplomatic preparations came as Ukrainian authorities reported a fightback on the ground against Russian forces near the capital Kyiv. Mayor Vitali Klitschko said Ukraine's military had wrested back control of areas to the north-west and north-east of the city as well as the western town of Makariv. He said 264 civilians had died in Kyiv since the war began, including four children. Pentagon spokesman John Kirby said the US had “seen indications that the Ukrainians are going a bit more on the offensive now” and are trying to regain territory around the Russian occupied-city of Kherson.

Kremlin spokesman Dmitry Peskov meanwhile maintained Moscow's insistence that what it calls a special military operation was going to plan.

Sanctions

The many faces of western power will assemble in Brussels on Thursday for a two-day diplomatic push aimed at showing solidarity with Ukraine, shoring up Europe’s defences and tightening the economic squeeze on Russia.

Mr Biden can expect to discuss those sanctions with European leaders as well as with Canada and Japan in the G7. Japanese Prime Minister Fumio Kishida said on Wednesday that Tokyo planned to strengthen its own measures.

The sanctions imposed so far have weakened Russia’s financial sector, cut off much of its economy from the world market and punished prominent individuals in the Kremlin's inner circle.

But some European countries want to go further by terminating fossil fuel imports from Russia, as the US has already done, and thereby cutting off one of Moscow's most lucrative sources of funding for the war.

Not all EU members are on board, however, and the energy-rich US says it understands that some import-reliant European partners will not be able to go this far.

Other proposals on the table include blocking land and sea trade from Russia, widening its ban from payments system Swift and barring its diplomats from the UN’s Human Rights Council.

Candles and lights are laid out at a peace vigil in front of the European Council and Commission buildings in Brussels. AP
Candles and lights are laid out at a peace vigil in front of the European Council and Commission buildings in Brussels. AP

Refugees

The daily flow of refugees from Ukraine into Poland and other neighbouring countries is beginning to strain Europe’s capacity despite repeated statements of goodwill.

Although many Ukrainians would like to return home as soon as possible, there is no knowing when the country will be safe and the task of integrating the women and children who make up the bulk of the refugees is considerable.

The issue goes beyond the EU because Poland has been lobbying the US and other allies for humanitarian assistance, after its border guards allowed more than two million people fleeing Ukraine into the country.

It will have another opportunity to make its case when Mr Biden visits Warsaw on Friday, where the White House said he would meet humanitarian experts.

Germany, France and Poland have been discussing ways to share out refugees — typically a thorny subject in the EU — with German Foreign Minister Annalena Baerbock notably looking to distribute them in Europe “and beyond”.

Nato is not immune from this issue either, with the UK’s former national security adviser Mark Sedwill urging countries to show a willingness to help to underscore their commitment to the Article 5 security guarantee.

  • Mykhaila and her daughter from Loubny, central Ukraine, travelled by train to the Ukrainian city of Lviv then took a bus to Medyka on the Polish border, before walking across. Photo: DEC
    Mykhaila and her daughter from Loubny, central Ukraine, travelled by train to the Ukrainian city of Lviv then took a bus to Medyka on the Polish border, before walking across. Photo: DEC
  • Women hold hands at the Medyka border crossing point, through which thousands of Ukrainian refugees have passed. Photo: DEC
    Women hold hands at the Medyka border crossing point, through which thousands of Ukrainian refugees have passed. Photo: DEC
  • Angelika, 27, and her daughter Diana, 4, from Khmelnytskyi in Ukraine arrive at a reception centre on the outskirts of Przemysl, Poland. Photo: DEC
    Angelika, 27, and her daughter Diana, 4, from Khmelnytskyi in Ukraine arrive at a reception centre on the outskirts of Przemysl, Poland. Photo: DEC
  • Maria, 38, from Chernihiv, left Ukraine with a friend. They came to the Romanian border to wait for another friend before crossing. Photo: Panos Pictures
    Maria, 38, from Chernihiv, left Ukraine with a friend. They came to the Romanian border to wait for another friend before crossing. Photo: Panos Pictures
  • Ukrainian Red Cross staff and volunteers are providing food and other basic necessities to about 8,000 people sheltering in an underground station in Kyiv. Photo: Tebukhukhov Maksym
    Ukrainian Red Cross staff and volunteers are providing food and other basic necessities to about 8,000 people sheltering in an underground station in Kyiv. Photo: Tebukhukhov Maksym
  • Kristina wipes away tears at Lwowska reception centre on the outskirts of Przemysl, Poland. Photo: DEC
    Kristina wipes away tears at Lwowska reception centre on the outskirts of Przemysl, Poland. Photo: DEC
  • Ira, 45, and her daughter Olena, 12, outside a transit centre in Przemysl, Poland. Photo: Adrienne Surprenant
    Ira, 45, and her daughter Olena, 12, outside a transit centre in Przemysl, Poland. Photo: Adrienne Surprenant
  • Veronika feeds her son Aleksander at the temporary refugee station in Medyka, eastern Poland. Photo: DEC
    Veronika feeds her son Aleksander at the temporary refugee station in Medyka, eastern Poland. Photo: DEC

Energy

Beyond the question of an immediate energy embargo lies the longer-term debate over how to reduce Europe’s reliance on Russian fossil fuel imports.

EU leaders will consider making collective gas purchases from outside Russia, a proposal described by a senior official as similar to the bloc’s joint acquisition of coronavirus vaccines.

Another suggestion is to mandate a minimum level of gas storage going into the winter to reduce the risks of power cuts if Russia turns off the tap.

President Vladimir Putin added another complication by saying on Wednesday that Russia would only accept payments in roubles for gas deliveries to “unfriendly countries”.

Leaders will have to navigate these issues at a time when energy prices are already high and there is disagreement in Europe over whether nuclear power is part of the solution.

The G7 also touched on the energy issue in its last statement on Russia, when it called for constructive engagement among major producers to ensure stability in global markets.

Nato Secretary General Jens Stoltenberg will lead the alliance's talks on Thursday. AFP
Nato Secretary General Jens Stoltenberg will lead the alliance's talks on Thursday. AFP

Military

Leaders are likely to discuss “red lines” that could draw Nato out of its current defensive stance, with opinion divided between those who say they have already been crossed and others who fear a direct confrontation with Russia.

“In almost 80 years of postwar history we have successfully avoided the unthinkable — a direct military confrontation between our western defence alliance, Nato, and Russia,” said German Chancellor Olaf Scholz. “It must stay that way.”

Allies have issues to work out on how to equip Ukraine, with proposals from Poland and Slovakia to supply planes and missile systems both running into difficulty when the US gave a lukewarm response.

On top of those short-term considerations, Mr Stoltenberg has spoken of a need to rethink Nato’s posture towards Russia more generally amid what diplomats have described as a more hostile climate to the east.

One aspect of this is cyber defence. Mr Meagher said 21 American energy companies involved with LNG production had been targeted by hackers.

At the EU talks, meanwhile, leaders are expected to endorse a strategic blueprint agreed by foreign and defence ministers on Monday which envisages a more security-conscious bloc with a 5,000-troop rapid response force.

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4.35pm Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m

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5.45pm Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m

6.20pm Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m

6.55pm Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m

7.30pm Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

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Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
While you're here

Michael Young: Where is Lebanon headed?

Kareem Shaheen: I owe everything to Beirut

Raghida Dergham: We have to bounce back

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
TUESDAY'S ORDER OF PLAY

Centre Court

Starting at 2pm:

Elina Svitolina (UKR) [3] v Jennifer Brady (USA)

Anastasia Pavlyuchenkova (RUS) v Belinda Bencic (SUI [4]

Not before 7pm:

Sofia Kenin (USA) [5] v Elena Rybakina (KAZ)

Maria Sakkari (GRE) v Aryna Sabalenka (BLR) [7]

 

Court One

Starting at midday:

Karolina Muchova (CZE) v Katerina Siniakova (CZE)

Kristina Mladenovic (FRA) v Aliaksandra Sasnovich (BLR)

Veronika Kudermetova (RUS) v Dayana Yastermska (UKR)

Petra Martic (CRO) [8] v Su-Wei Hsieh (TPE)

Sorana Cirstea (ROU) v Anett Kontaveit (EST)

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

The specs: 2017 Lotus Evora Sport 410

Price, base / as tested Dh395,000 / Dh420,000

Engine 3.5L V6

Transmission Six-speed manual

Power 410hp @ 7,000rpm

Torque 420Nm @ 3,500rpm

Fuel economy, combined 9.7L / 100km

AS%20WE%20EXIST
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COMPANY%20PROFILE
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Seven tips from Emirates NBD

1. Never respond to e-mails, calls or messages asking for account, card or internet banking details

2. Never store a card PIN (personal identification number) in your mobile or in your wallet

3. Ensure online shopping websites are secure and verified before providing card details

4. Change passwords periodically as a precautionary measure

5. Never share authentication data such as passwords, card PINs and OTPs  (one-time passwords) with third parties

6. Track bank notifications regarding transaction discrepancies

7. Report lost or stolen debit and credit cards immediately

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

The Uefa Awards winners

Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)

Uefa Women's Player of the Year: Lucy Bronze (Lyon)

Best players of the 2018/19 Uefa Champions League

Goalkeeper: Alisson (Liverpool)

Defender: Virgil van Dijk (Liverpool)

Midfielder: Frenkie de Jong (Ajax)

Forward: Lionel Messi (Barcelona)

Uefa President's Award: Eric Cantona

UAE currency: the story behind the money in your pockets
The biog

Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages

Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”  

Favourite food: “I'm a vegetarian, so I can't get enough of salad.”

Favourite film:  “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”

Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Updated: March 23, 2022, 4:46 PM