‘Safe haven’ – the destination Russian oligarchs are fleeing to

A growing number of Russia’s elite have packed up their bags and relocated to Dubai, all in an attempt to avoid the impacts of increasing western sanctions

Russian billionaires and entrepreneurs have been arriving in the UAE in huge numbers, with property purchases increasing by 67% in first part of 2022.

The UAE continues to avoid imposing sanctions on Russia, and is approving visas to non-sanctioned Russians despite opposition and pressure from the West not to do so.

While the exact figures remain unclear, reports suggest hundreds of thousands of Russians have fled their country since Putin’s war began on February 24.

A number of many multinational companies and Russian start-ups are also relocating their employees to the UAE in an attempt to keep business afloat.