UAE mulls export controls on items sanctioned by US, EU - Bloomberg
investing.com(Reuters) — The United Arab Emirates is considering introducing export licenses for a list of items including chips and other components sanctioned by the U.S. and European Union and used by Russia's military in Ukraine, Bloomberg News reported on Thursday, citing people familiar with the matter.
If implemented, licenses could be withheld for dual-use goods used in the battlefield, potentially hurting the Kremlin's ability to «feed its war machine,» the report added.
Dubai remains a key trans-shipment point for components supporting Moscow's war effort, a concern raised by sanctions envoys from the US, UK and EU visiting the UAE earlier this month, Bloomberg said.
The UAE has a legal Export Control framework in place and is continuously monitoring the export of dual-use products, a UAE official said in an emailed statement to Reuters. The UAE also remains in close dialogue with its international partners, including the United States and European Union, concerning the conflict in Ukraine, the official said.
«The UAE strictly abides by UN sanctions and has clear processes in place to deal with sanctioned entities, which we have exercised against a number of companies since the beginning of the conflict, and will continue to take these responsibilities seriously,» the official said.
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