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French Navy observing Russian shadow fleet tanker

August 4th, 2026 - 12:20 GMT

P. Choiaqo

Russia preparing shadow fleet ahead of complete EU oil import ban

ALBAWABA - Russia is expanding its shadow fleet network in anticipation of the total and complete European ban on Russian oil and gas exports to the continent coming into effect on 1 January, 2027. The flagships of the fleet in question are Liquified Natural Gas (LNG) tankers and, over the past six months, at least eight of these tankers were sold and redirected to serve Russian oil exports bringing the ...

A rendering of Nakheel's Deira Islands. (Photo courtesy of Nakheel)

July 27th, 2017 - 01:15 GMT

Dubai's Nakheel Sees 22 Percent Drop in Profit for Q2 2017

Banks and other financial institutions in the UAE to freeze all bank accounts of groups and individuals mentioned in the new terror list issued by Saudi Arabia and its allies on July 25, 2017. (AFP/ File)

July 27th, 2017 - 01:05 GMT

UAE Freezes Accounts of Individuals, Entities in Qatar-Linked Terror List

Oil prices finished higher after data from the U.S. Energy Information Administration showed a large drop in domestic crude and gasoline supplies. (File photo)

July 27th, 2017 - 12:52 GMT

Oil Prices Jump to 8-Week High on Lower US Crude Reserves

Etihad posts disappointing results for 2016. (File photo)

July 27th, 2017 - 12:38 GMT

Etihad Reports $1.8 Billion Loss in 2016, First Time in Six Years

The Dubai government said on Wednesday that the Arabian Business website had been blocked, and its print edition stopped for a month.

July 27th, 2017 - 09:23 GMT

Arabian Business Website, Magazine Banned in UAE for Publishing ‘False News’

With oil prices remaining relatively low, countries in the GCC are faced with the urgent need to diversify their economies. (AFP/ File)

July 26th, 2017 - 11:43 GMT

Diversification and Growth: Are There Lessons for GCC Countries?

DP World's core business is container handling which generates more than three quarters of its revenues. (File photo)

July 26th, 2017 - 09:52 GMT

'No Serious Impact From Qatar Ban on Container Volumes,' Says DP World

Surplus reserves at UAE banks surged to AED 42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 percent from the first month of 2017, according to UAE Central Bank statistics. (Shutterstock)

July 26th, 2017 - 08:14 GMT

UAE Surplus Reserves Jump 77.6 Percent in June: Central Bank

The agency said the foreign assets of the Saudi banks reached their highest level in May since July 2016. (AFP/ File)

July 26th, 2017 - 06:00 GMT

Saudi Arabia's Foreign Assets Close to SR2 Trillion: SAMA

Earlier this month, Saudi Arabia announced it would cut crude oil shipments in August. (AFP/ File)

July 25th, 2017 - 11:58 GMT

Saudi Arabia's Reduced Oil Exports Will Force US Inventories Lower: Analysts

Saudi Arabia on Monday approved the establishment of a national project for atomic energy. (File photo)

July 25th, 2017 - 10:51 GMT

Saudi Arabia Says Atomic Program Will 'Optimize Use of Energy Sources'

The Jordanian ministry of tourism issued instructions to travel agencies, directing them not to send tourists to Wadi Rum, 300km south of Amman, and to avoid some roads in the south of the Kingdom, for fear of possible violence. (File photo)

July 25th, 2017 - 10:36 GMT

Jordanians Insist Wadi Rum Safe, Reject Ministry Ban Over 'Tribal Violence'