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Wealthy Russians flee to Dubai to avoid sanctions

Wealthy Russians flee to Dubai to avoid sanctions

Dubai has emerged as a haven for wealthy Russians fleeing the impact of Western sanctions on the war in Ukraine.

Russian billionaires and entrepreneurs have arrived in the United Arab Emirates (UAE) in unprecedented numbers, reports the BBC.

Property purchases in Dubai by Russians increased by 67% in the first three months of 2022, a report said.

The UAE has not imposed sanctions on Russia, nor has it criticized its occupation of Ukraine.

It is also granting visas to unsanctioned Russians, while many Western countries have restricted them.

Hundreds of thousands of people are estimated to have fled Russia in the past two months - although exact figures have not been made public.

A Russian economist said about 200,000 Russians had fled in the first 10 days after the start of the war.