Russian President Vladimir Putin accused the US of “sabotaging” the Nord Stream pipeline and suggested that the recent attacks had been carried out to destroy Europe's energy infrastructure.
Mr Putin said that the attacks on the crucial trans-Baltic pipeline were the work of “Anglo-Saxons” during a long-winded speech announcing the annexation of four Ukrainian regions.
“The sanctions were not enough for the Anglo-Saxons: they moved on to sabotage,” Mr Putin said. “It is hard to believe, but it is a fact that they organised the blasts on the Nord Stream international gas pipelines.
“They began to destroy the pan-European energy infrastructure.”
He added that it was “clear to everyone who benefits from this”.
Russia on Friday claimed to have intelligence suggesting western involvement in the pipeline disruption, as it stepped up efforts to deflect suspicion away from Moscow.
Swedish authorities said the blasts that caused several leaks on the crucial pipeline were equal to several hundred kilograms of TNT. The country says it does not believe anyone other than a state could have caused the undersea blasts.
“The magnitude of the explosions was measured at 2.3 and 2.1 on the Richter scale, respectively, probably corresponding to an explosive load of several hundred kilos,” Sweden and Denmark said in a joint report to the UN Security Council.
Following a request from Russia, the Security Council is due to hold an emergency meeting on the leaks later on Friday.
“All available information indicates that those explosions are the result of a deliberate act,” the countries said.
All the leaks, which were discovered on Monday, are in the Baltic Sea off the Danish island of Bornholm.
Two of the leaks are located in the Swedish exclusive economic zone and the two others in the Danish one.
The Scandinavian countries also said that “the possible impact on maritime life in the Baltic Sea is of concern, and the climate effect would likely be very substantial”.
Coastguards widened the maritime exclusion zone as gas escaped the pipelines for a fifth day, although there were signs at least one of the leaks was diminishing.
Denmark said the methane leaking from the pipes could be equivalent to a third of its annual greenhouse gas emissions.
There were 778 million cubic metres of gas in the pipes even though none was being exported, Danish authorities said. Both the parallel Nord Stream 1 and Nord Stream 2 pipelines have two leaks.
Amid suspicion that Russia was behind the leaks, the head of its foreign intelligence service, Sergey Naryshkin, said Moscow had clues “that point to the western footprint in the organisation and implementation” of the blasts.
“The West is doing everything to hide the true perpetrators and organisers of this international terrorist act,” news agency Interfax quoted the spy chief as saying.
Kremlin propaganda highlighted American opposition to the Nord Stream 2 pipeline and a remark by US President Joe Biden in February that, if necessary, “we will bring an end to it”.
The US has dismissed suggestions it was involved as Russian disinformation.
“We're as perplexed as anyone else and are very interested in knowing how this came about, whether it's an accident or otherwise,” a senior Pentagon official said this week.
Suspicion has fallen on Russia because of the backdrop of its energy stand-off with Europe, its record of shadowy operations and the suggestion that it wants to unsettle western powers about the safety of their vital infrastructure.
Sweden, one of the countries with gas leaking in its exclusive waters, said on Friday that the leaks “should be seen from the current security situation that Europe is in”.
“It’s very likely that it has been done deliberately and not by accident, and it’s very unlikely it’s been done by anybody else than a state without being detected earlier,” Energy Minister Khashayar Farmanbar said.
Nato said on Thursday it regarded the leaks as sabotage and gave a warning that any deliberate attack against allied infrastructure “would be met with a united and determined response”.
An update from Swedish coast guards on Friday said the leak on Nord Stream 2, the smaller of the two in Sweden’s waters, “has diminished, but is still ongoing”.
As of Thursday evening, passing ships were being told to stay at least seven nautical miles (13 kilometres) from the source of the leak, increased from five.
The rescue ship KBV 03 Amfitrite, built to withstand contaminated environments, was patrolling the leak around the clock amid security concerns around Europe.
French company TotalEnergies added to those concerns late on Thursday by saying it had spotted unauthorised drone activity near one of its North Sea oil and gas installations.
Norway similarly reported drone sightings as it announced it would increase security on its continental shelf following the leaks.
Seismographs in Germany, Denmark and Sweden recorded two separate spikes in the Baltic Sea shortly before the leaks were discovered, in what appeared to be man-made blasts rather than earthquakes.
The mainly Russian owners of the two pipelines told Danish authorities that there were 600 million cubic metres of gas in Nord Stream 1 and 178 million in Nord Stream 2 at the time of the blasts.
Although some of the gas may dissolve in the air and water, the worst-case scenario calculated by Danish scientists suggests the equivalent of 14.6 million tonnes of CO2 would leak into the atmosphere.
This would be equivalent to 32 per cent of Denmark’s annual greenhouse gas emissions, the country’s energy agency said.
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
6 UNDERGROUND
Director: Michael Bay
Stars: Ryan Reynolds, Adria Arjona, Dave Franco
2.5 / 5 stars
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
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
More on animal trafficking
Specs
Engine: 3.0L twin-turbo V6
Gearbox: 10-speed automatic
Power: 405hp at 5,500rpm
Torque: 562Nm at 3,000rpm
Fuel economy, combined: 11.2L/100km
Price: From Dh292,845 (Reserve); from Dh320,145 (Presidential)
On sale: Now
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
