Русский
The Russian President, Vladimir Putin met with the United Arab Emirates Deputy Prime Minister and Minister of Interior of Sheikh Saif bin Zayed Al Nahyan in the Kremlin on April 30th, with Russia’s Minister of Internal Affairs Vladimir Kolokoltsev also attending the meeting.
The UAE has been hosting Russia-Ukraine prisoner negotiations and assisting with moves designed towards a peace process between the two countries. The Russian Foreign Ministry has stated choosing Abu Dhabi for the prisoner exchange process reflects the close friendship ties of both countries with the UAE, and emphasized its hopes that these efforts will lead to de-escalating tensions, and enhancing dialogue and understanding, to achieve security and stability both regionally and internationally.
The two sides also reviewed several bilateral projects and joint initiatives in the security and law enforcement sectors, including the launch of the strategic police dialogue and ongoing joint training in child protection.
The United Arab Emirates is one of Russia’s leading trade and economic partners in the Arab world. According to the UAE Economic Ministry, trade between the two countries increased by 3.5% in 2023 to US$11.2 billion. The UAE quadrupled its purchases of Russian oil products to a record US$971.4 million last year. However, 2024 has seen a decline in bilateral trade, mainly to the threats of secondary sanctions in the financial sector. Both Presidents are looking to resolve this issue. The main products Russia exports to the UAE are gold, diamonds, and refined petroleum. Dubai is a major international jewellery trading hub.
According to 2024 statistics, Russian capital invested in the UAE has exceeded US$30 billion, while the volume of Emirati investments in Russia was US$16.8 billion. About 4,000 Russian companies are registered in the UAE. In November 2023, the assembly of Aurus Senat luxury cars began at the production site in Abu Dhabi, and in the future, Aurus Komendant SUVs will also be produced there.
In late 2024, the UAE sovereign wealth fund purchased 6.86% of the Moscow Stock Exchange.
There is also a pending Free Trade Agreement between Russia and the UAE, as part of the UAE – Eurasian Economic Union (EAEU) FTA. One of the important aspects of bilateral relations in this is tourism exchange. According to the World Travel and Tourism Council, Russia became the second country in terms of the number of visitors to the UAE in 2023 (7% of the total), second only to India (14%) and level with Saudi Arabia (7%).
The bilateral trade relationship between the UAE and Russia has also seen significant growth, with trade turnover increasing from US$5.36 billion in 2021 to US$10 billion in 2024.
Further Reading
Russia, UAE Finalise Double Tax Agreement To Commence 1st January 2026
