British Foreign Secretary Liz Truss. PA
British Foreign Secretary Liz Truss. PA
British Foreign Secretary Liz Truss. PA
British Foreign Secretary Liz Truss. PA

Liz Truss seeks a ‘global Nato’ approach to allies


Thomas Harding
  • English
  • Arabic

Britain’s Foreign Secretary Liz Truss has said the defence of one by all at the heart of the Nato alliance must become a global security and economic principle.

Ms Truss told leaders at Mansion House in the City of London that the new geopolitics after the Russian invasion of Ukraine meant that Nato countries should operate defence alliances beyond Europe.

“I mean that Nato must have a global outlook, ready to tackle global threats,” she said. “We need to pre-empt threats in the Indo-Pacific, working with allies like Japan and Australia to ensure that the Pacific is protected.”

Ms Truss said the G7 countries should adopt a similar approach, “collectively defending our prosperity”.

She said the UK would go “further and faster” in providing the heavy weapons required to push Russia out of all of Ukraine.

Ms Truss said it was “time for courage, not caution”, making it necessary for the West to send warplanes to Kyiv to defeat Moscow.

But she also warned that the invasion had shown global institutions, such as the UN and G20, had failed to curtail Russian President Vladimir Putin’s ambitions, with the country's veto on the Security Council a “green light to barbarism”.

Foreign Secretary Liz Truss speaks at the Easter Banquet at Mansion House in the City of London, on April 27. PA
Foreign Secretary Liz Truss speaks at the Easter Banquet at Mansion House in the City of London, on April 27. PA

Ms Truss's outspoken demand to drive Russia out of Ukraine, including its removal from Crimea and the separatist territories seized in 2014, was the clearest signal yet that the West would not compromise until Mr Putin’s troops had been entirely thrown out.

The speech will further heighten tension after a British defence minister this week said it was “legitimate” for arms supplied by the UK to be used on targets inside Russia.

Moscow has responded by again raising the threat of nuclear war, suggesting it could strike supply lines outside Ukraine, possibly in Poland.

But Ms Truss was stark in her comments, which are among the strongest messages yet to Moscow that it now faces a formidable foe in Nato and an immense challenge in Ukraine.

“We will keep going further and faster to push Russia out of the whole of Ukraine,” she said on Wednesday evening.

“Some argue we shouldn’t provide heavy weapons for fear of provoking something worse. Inaction would be the greatest provocation. This is a time for courage, not caution.”

Despite Nato countries sending artillery, heavy anti-aircraft weapons, tanks and advanced missiles, Ms Truss urged them to “double down” in support for Ukraine as the war could be a “long haul”.

“Heavy weapons, tanks, aeroplanes – digging deep into our inventories, ramping up production, we need to do all of this,” she said.

“We cannot be complacent. The fate of Ukraine remains in the balance."

Foreign Secretary Liz Truss speaking at the Easter Banquet at Mansion House in the City of London, on April 27. PA
Foreign Secretary Liz Truss speaking at the Easter Banquet at Mansion House in the City of London, on April 27. PA

If Mr Putin were victorious, there would be “untold further misery across Europe”, and “terrible consequences across the globe”.

Ms Truss said Europe must cut itself off from Russian energy supplies and stop sending millions of dollars into Mr Putin’s war chest.

“There must be nowhere for Putin to go to fund this appalling war,” she said. “That means cutting off oil and gas imports once and for all.”

Ms Truss said Nato must ensure the security of other East European countries that are prone to Russian aggression, including Moldova, Georgia and the Western Balkans.

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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UAE currency: the story behind the money in your pockets
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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

THREE
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The Sky Is Pink

Director: Shonali Bose

Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

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.”

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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) 

Updated: April 28, 2022, 9:11 AM