US President Joe Biden met Nato Secretary General Jens Stoltenberg on March 24, 2022, in Brussels, Belgium, and again in June at the White House. AP
US President Joe Biden met Nato Secretary General Jens Stoltenberg on March 24, 2022, in Brussels, Belgium, and again in June at the White House. AP
US President Joe Biden met Nato Secretary General Jens Stoltenberg on March 24, 2022, in Brussels, Belgium, and again in June at the White House. AP
US President Joe Biden met Nato Secretary General Jens Stoltenberg on March 24, 2022, in Brussels, Belgium, and again in June at the White House. AP

Biden aims to 'increase pressure on Russia' at G7 summit


Holly Aguirre
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US President Joe Biden will focus on the continued global response to Russia's invasion of Ukraine and other international threats at the G7 Leaders' Summit on Saturday and the Nato conference in Madrid on Monday.

A senior administration official said there will be measures announced to increase "pressure on Russia" during the G7 event.

US officials also said Ukrainian President Volodymyr Zelenskyy will speak via video link at both summits.

The visit will be Mr Biden’s fourth to Europe since taking office. He last visited Brussels and Warsaw in late March for meetings addressing the conflict in Ukraine.

"The president has been very clear in the context of the Ukraine crisis that Nato must defend every inch of Nato territory," a senior US official said on Wednesday.

Secretary of State Antony Blinken will also travel to both summits.

Mr Biden also hopes to discuss democratic and economic challenges posed by China as well as climate change, food security and global health.

  • Nato Secretary General Jens Stoltenberg, front left, US President Joe Biden and British Prime Minister Boris Johnson pose for a photo during an extraordinary Nato summit in Brussels. AP Photo
    Nato Secretary General Jens Stoltenberg, front left, US President Joe Biden and British Prime Minister Boris Johnson pose for a photo during an extraordinary Nato summit in Brussels. AP Photo
  • Jens Stoltenberg speaks at a press conference at the end of the summit in Brussels. EPA
    Jens Stoltenberg speaks at a press conference at the end of the summit in Brussels. EPA
  • France's President Emmanuel Macron shakes hands with Mr Biden as they arrive at Nato headquarters. AFP
    France's President Emmanuel Macron shakes hands with Mr Biden as they arrive at Nato headquarters. AFP
  • The leaders gather for a photo in Brussels. AP Photo
    The leaders gather for a photo in Brussels. AP Photo
  • Japanese Prime Minister Fumio Kishida and Boris Johnson attend a bilateral meeting. Getty Images
    Japanese Prime Minister Fumio Kishida and Boris Johnson attend a bilateral meeting. Getty Images
  • Joe Biden speaks with Jens Stoltenberg during the summit. Reuters
    Joe Biden speaks with Jens Stoltenberg during the summit. Reuters
  • European Commission President Ursula von der Leyen and Boris Johnson. PA
    European Commission President Ursula von der Leyen and Boris Johnson. PA
  • Mr Biden is greeted by Mr Stoltenberg as he arrives for meetings with Nato allies in the Belgian capital. AP Photo
    Mr Biden is greeted by Mr Stoltenberg as he arrives for meetings with Nato allies in the Belgian capital. AP Photo
  • Mr Johnson addresses media representatives after he arrives in Brussels. AFP
    Mr Johnson addresses media representatives after he arrives in Brussels. AFP
  • Canada's Prime Minister Justin Trudeau speaks to the press in Brussels. AFP
    Canada's Prime Minister Justin Trudeau speaks to the press in Brussels. AFP
  • Mr Macron shakes hands with Turkish President Recep Tayyip Erdogan. AFP
    Mr Macron shakes hands with Turkish President Recep Tayyip Erdogan. AFP
  • Mr Stoltenberg at Nato's headquarters in Brussels. AFP
    Mr Stoltenberg at Nato's headquarters in Brussels. AFP
  • Mr Erdogan with officials including Turkey's Foreign Minister Mevlut Cavusoglu as he arrives in Brussels. AFP
    Mr Erdogan with officials including Turkey's Foreign Minister Mevlut Cavusoglu as he arrives in Brussels. AFP
  • Mr Macron arriving at the summit. AFP
    Mr Macron arriving at the summit. AFP

"Ukraine is not causing us to take our eye off the ball on on China," the official said.

"It's the democratic world on both Russia and China and President Biden has effectively linked our efforts in Europe and Asia."

Mr Biden and Vice President Kamala Harris met earlier this month with Nato Secretary General Jens Stoltenberg to prepare for the summit in Madrid.

"The leaders discussed the implications of Russia’s war on Ukraine for transatlantic security and the importance of strengthening Nato’s deterrence and defense, in addition to ensuring Nato is properly resourced to address a wide range of challenges, from cyber to climate change," a White House statement said.

Defence Secretary Lloyd Austin also met Mr Stoltenberg for preparations for the ministerial.

Mr Stoltenberg had been due to step down as secretary general at the summit, but given the Russian invasion of Ukraine, Nato leaders have requested that he stay on.

"In the face of Russia's unprovoked aggression against Ukraine, Nato has grown stronger and more united,” Mr Austin said during his meeting with Mr Stoltenberg.

"We couldn't have done what's been done … without your strong leadership."

Mr Biden will also travel to Israel, the West Bank and Saudi Arabia next month, where he will hold his first meeting with regional leaders. It will be his first visit to the Arab world as president.

The Middle East trip, which will take place from July 13 to 16, will “reinforce the United States’ ironclad commitment to Israel’s security and prosperity”, White House Press Secretary Karine Jean-Pierre said.

She added that Mr Biden will attend a summit of Gulf Co-operation Council countries plus Egypt, Iraq and Jordan, known as the GCC+3.

Additional reporting by Patrick deHahn

How to vote

Canadians living in the UAE can register to vote online and be added to the International Register of Electors.

They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi

Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday) 

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
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  • Store funds in hardware wallets as opposed to online exchanges.
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
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

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

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Updated: June 23, 2022, 2:23 PM