Farnborough Airport in southern England, where a private jet has been impounded by UK authorities. Photo: Alamy
Farnborough Airport in southern England, where a private jet has been impounded by UK authorities. Photo: Alamy
Farnborough Airport in southern England, where a private jet has been impounded by UK authorities. Photo: Alamy
Farnborough Airport in southern England, where a private jet has been impounded by UK authorities. Photo: Alamy

Private jet impounded at Farnborough Airport as UK widens ban on Russian aircraft


Laura O'Callaghan
  • English
  • Arabic

A private jet linked to a Russian oil tycoon has been impounded at Farnborough Airport in Hampshire.

Britain’s Transport Secretary Grant Shapps ordered authorities to seize the aircraft on Tuesday to enable an investigation into its connection with billionaire oil tycoon Eugene Shvidler. The tycoon is a friend of Roman Abramovich, the owner of Chelsea FC who is in the process of selling the club.

The move came as the government tightened its sanctions on President Vladimir Putin’s regime by making it a criminal offence for any Russian aircraft to enter UK airspace.

Mr Shapps said the latest round of punitive measures, which include private jets linked to oligarchs, would “suffocate Putin’s cronies’ ability to continue living as normal while thousands of innocent people die”.

The new law gives authorities the jurisdiction to impound Russian-owned and Russian-chartered planes. It also gives the government the power to remove aircraft belonging to designated Russian individuals and entities from the UK aircraft register.

A government source said Mr Shvidler was “free to continue his journey by other means” after the plane was impounded.

The Bombardier Global 6500 jet arrived in Farnborough from the US state of New Jersey on Friday and had been due to fly to Dubai on Tuesday afternoon.

Mr Shapps revoked its foreign carrier permit, meaning it could not legally carry passengers, before issuing a restriction of flying order which grounded the plane.

The jet is registered in Luxembourg to a company named Global Jet Luxembourg, but ownership of private planes is often complicated by the involvement of third parties.

It will only be allowed to leave Farnborough if no link with Russia is established, the source added. That is unlikely to happen on Wednesday.

Mr Shapps confirmed that a private jet was impounded at Farnborough.

The Transport Secretary told the BBC that Russian airlines and private jets had already been banned from the UK but the latest law would close gaps allowing people to exploit loopholes in the rules.

“There were potential loopholes and I also wanted to make the issue a criminal one, so last night I also signed a law which closes off some of those loopholes to do with trying to work out the ownership of some of these aircraft," he said.

“There is one such aircraft on the ground at Farnborough that I have essentially impounded while we carry out further investigations. It’s very important that we have the laws available to enable that to happen.”

A government source told the PA news agency the aircraft “was transporting a wealthy Russian and the ownership of the aircraft is now the subject of an investigation”.

“The aircraft will only be allowed to leave Farnborough if the inquiry shows it is not a Russian-owned or controlled jet,” the source said.

In a letter to all UK airports and airfields on Tuesday evening, Mr Shapps laid out the new rules and said air traffic control had the power to tell pilots on Russian planes – private or commercial – not to enter UK airspace, or to leave it by a designated route.

The latest measures add to an earlier airspace ban on Russian commercial airlines and private planes.

“Where we have aircraft which might be connected with Russian oligarchs flying into the country, they should know this sends the clearest signal of all – you can’t do that any more, we can impound your aircraft,” Mr Shapps told Sky News on Wednesday. “[The law] turns this into a criminal offence and I hope sets out the position very, very clearly to them.”

Foreign Secretary Liz Truss has also introduced a ban on the export of aviation and space-related goods and technology to Russia.

Ms Truss will head to Washington on Wednesday where she will meet her US counterpart Antony Blinken to discuss what more can be done to help Ukraine. She will meet members of Congress to discuss UK-US ties and will deliver a speech on Thursday.

Stemming the flow of Putin's oil

Ukrainian President Volodymyr Zelenskyy on Tuesday thanked the UK and the US for their moves to sanction Russian oil. During his historic address to the British Parliament via video link, Mr Zelenskyy welcomed the announcement aimed at hurting Russia financially, which he said sent a “powerful signal” to the world.

Mr Shapps acknowledged that the ban on Russian oil imports could have a knock-on effect on consumers but insisted it was the right decision.

“We need to stem the flow of Putin’s gas and oil blood money from funding his war machine,” he said.

“I think that the British people – even though it will, of course, lead to some higher energy prices, although we’ve probably already seen that as they’re happening already – are not prepared to see us funding Putin’s horrific war.

“And so I think it’s very, very important that we take this step, we will step up our own production.

“And we’re fortunate in the UK that we don’t buy, proportionately, very much Russian oil and gas and we do also produce our own, so we’ll step that up as well.”

On Wednesday, the 14th day of Russia's invasion of Ukraine, Britain's Ministry of Defence said its latest intelligence suggested Ukrainian cities continued to come under heavy shelling but Mr Putin’s assault on the capital Kyiv had failed to make tangible progress.

“Fighting north-west of Kyiv remains ongoing with Russian forces failing to make any significant breakthrough,” the ministry said.

“The cities of Kharkiv, Chernihiv, Sumy and Mariupol remain encircled by Russian forces and continue to suffer heavy Russian shelling.

“Ukrainian air defences appear to have enjoyed considerable success against Russia’s modern combat aircraft, probably preventing them achieving any degree of control of the air.”

PREMIER LEAGUE TABLE

1 Man City    26   20   3   3   63   17   63 

2 Liverpool   25   17   6   2   64   20    57 

3 Chelsea      25   14   8  3   49   18    50 

4 Man Utd    26   13   7  6   44   34    46 

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5 West Ham   26   12   6   8   45   34    42 

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6 Arsenal      23  13   3   7   36   26   42 

7 Wolves       24  12   4   8   23   18   40 

8 Tottenham  23  12   4   8   31   31   39  

What is 'Soft Power'?

Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye. 
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength. 
Soft power is, at its root, the ability to convince other states to do what you want without force. 
This is traditionally achieved by proving that you share morals and values.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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

What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
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Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

Views: 5.3 billion on YouTube

Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

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UAE currency: the story behind the money in your pockets
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Syria v Australia
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Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
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  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
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  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less

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Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Last 10 NBA champions

2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

England Test squad

Ben Stokes (captain), Joe Root, James Anderson, Jonny Bairstow, Stuart Broad, Harry Brook, Zak Crawley, Ben Foakes, Jack Leach, Alex Lees, Craig Overton, Ollie Pope, Matthew Potts

 
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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Stamp duty timeline

December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%

April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.

July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.

March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.

April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.

MATCH INFO

Scotland 59 (Tries: Hastings (2), G Horne (3), Turner, Seymour, Barclay, Kinghorn, McInally; Cons: Hastings 8)

Russia 0

BIG SPENDERS

Premier League clubs spent £230 million (Dh1.15 billion) on January transfers, the second-highest total for the mid-season window, the Sports Business Group at Deloitte said in a report.

Dubai Women's Tour teams

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UAE Women’s Team
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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

The specs: 2018 Maserati GranTurismo/GranCabrio

Price, base Dh485,000 (GranTurismo) and Dh575,000 (GranCabrio)

Engine 4.7L V8

Transmission Six-speed automatic

Power 460hp @ 7,000rpm

Torque 520Nm @ 4,750rpm

Fuel economy, combined 14.3L (GranTurismo) and 14.5L (GranCabrio) / 100km

Updated: March 09, 2022, 12:39 PM