{"id":92547,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/"},"modified":"2024-05-30T00:00:00","modified_gmt":"2024-05-30T00:00:00","slug":"dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/","title":{"rendered":"DMCC chair on sanctions against Russia, trade tensions, and the attractiveness of Dubai as a trade hub"},"content":{"rendered":"

It\u2019s another quiet day for UAE in the news<\/strong>, except for a Financial Times<\/a> interview with Dubai Multi Commodities Centre Chairman Hamad Buamim discussing the current global landscape of trade amid geopolitical tensions, the attractiveness of the UAE to Russian and global firms, and what he said was the ineffectiveness of sanctions against Russia.<\/p>\n

\u201cSanctions slow the economy, never stop it.<\/strong> Trade continues flowing, it just flows in a different way,\u201d Buamim said, adding that trade traffic has been redirected to Dubai, owing to its neutral location amid geopolitical tensions, alongside infrastructure and market access. <\/p>\n

He also refuted claims that Russian firms came to the UAE to escape sanctions<\/strong>, explaining that \u201cit is not the Russians that really dominated the growth. We had growth coming from Switzerland. We have companies from other countries. They see that Dubai has the infrastructure, the market access and the neutral stance [on the war].\u201d<\/p>\n

Buamim also touched on the difficulty of maintaining a neutral position between the US and China<\/strong> amid escalating trade tensions, calling it a \u201cchallenge for businesses throughout the world.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

DMCC Chairman Hamad Buamim highlighted the limited impact of Western sanctions on Russia<\/p>\n","protected":false},"author":1,"featured_media":92548,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1551],"tags":[7,1334,41,394],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uae-in-the-news","tag-enterpriseam-uae","tag-trade","tag-uae-in-the-news","tag-uae-russia-relations","wpautop","entry"],"acf":{"mongo_id":"1b827de2-42e4-473c-ad56-0100359daa15","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1218.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DMCC 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