UAE, Russia host first joint business forum despite Ukraine war sanctions
Trade between the two countries is projected to exceed $10 billion in 2025.
The first UAE-Russia Business Forum opened in Dubai on Wednesday, drawing around 500 participants and signaling an expansion of economic ties between the two countries despite international and US sanctions on Russia over its war in Ukraine.
What happened: The forum, set to become an annual event, runs for one day. Roscongress, a Russian state institution that coordinates economic and investment events and helped organize the gathering, said that around 500 people are expected to attend.
The program includes panels on investment, industrial development and the development of export and logistics corridors.
Key attendees include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Russian Industry and Trade Minister Anton Alikhanov, Tatarstan head Rustam Minnikhanov, DP World chairman and CEO Sultan Ahmed Bin Sulayem, VTB Bank executive Vitaly Sergeychuk, Gazprom-Media CEO Alexander Zharov, Chamber of Commerce and Industry of the Russian Federation President Sergey Katyrin and Russia-UAE Business Council Chairman Alexander Vinokurov.
